Newell Brands Inc (NWL) Shares Soar on Q1 Earnings Beat

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Newell Brands Inc (NYSE:NWL) stock was flying high on Monday following positive results in its earnings report for the first quarter of 2017.

Newell Brands Inc (NWL) Shares Soar on Q1 Earnings BeatDuring the first quarter of the year, Newell Brands Inc reported earnings per share of 34 cents. This is down from its earnings per share of 40 cents from the first quarter of the year prior. However, it did come in above Wall Street’s earnings per share estimate of 29 cents for the quarter.

Revenue reported by Newell Brands Inc for the first quarter of 2017 was $3.27 billion. This is an increase over its revenue of $1.31 billion from the same time last year. It also beat out analysts’ revenue estimate of $3.22 billion for the first quarter of the year.

During the first quarter of 2017, Newell Brands Inc reported operating income of $156.0 million. This is above its operating income of $125.4 million from the same quarter of the previous year.

Net income reported by Newell Brands Inc in the first quarter of the year was $638.5 million. The commercial products marketer reported net income of $40.5 million in the same period of 2016.

Newell Brands Inc also updated its guidance in its earnings report for the first quarter of 2017. The company is now expecting earnings per share for the year to range from $3.00 to $3.20. Its previous guidance had earnings per share falling between $2.95 and $3.15. Wall Street is expecting earnings per share of $3.05 from NWL in 2017.

Newell Brands Inc says that it is still expecting revenue for 2017 to range from $14.52 billion to $14.72 billion. Analysts are expecting revenue of $14.71 billion from the company in 2017.

NWL stock was up 11% as of Monday morning.


Article printed from InvestorPlace Media, https://investorplace.com/2017/05/newell-brands-inc-nwl/.

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