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Newell Brands Reiterates FY19 Normalized EPS Outlook, Boosts Sales Forecast

While reporting financial results for the second quarter, consumer goods company Newell Brands (NWL) on Friday reiterated its normalized earnings and core sales guidance for the full-year 2019, while raising net sales outlook. The company also initiated outlook for the third quarter.

For fiscal 2019, the company continues to project normalized earnings in the range of $1.50 to $1.65 per share and core sales to decline in the low-single digit percentage.

Net sales for the full year are now expected between $9.1 billion and $9.3 billion, up from the prior guidance range of $8.2 billion to $8.4 billion.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.55 per share on net sales of $8.37 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company projects normalized earnings in a range of $0.55 to $0.60 per share, net sales between $2.42 billion and $2.47 billion and core sales decline of 2 to 4 percent. Analysts expect earnings of $0.54 per share on net sales of $2.23 billion for the quarter.


Further, the company announced its intent to retain the Rubbermaid Commercial Products business, including the related Rubbermaid Outdoor, Closet, Refuse and Garage business lines, which has been classified as held for sale and discontinued operations.

The retention of Rubbermaid Commercial Products will be accretive to operating margins, normalized earnings per share and operating cash flow in 2020 and future years.

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