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Newell Brands Boost FY19 Normalized EPS, Net Sales Outlook - Quick Facts

While reporting financial results for the third quarter on Friday, consumer goods company Newell Brands (NWL) raised its normalized earnings and net sales guidance for the full-year 2019, based on the stronger than anticipated performance thus far in the year. The company also provided outlook for the fourth quarter.

For fiscal 2019, the company now projects normalized earnings in a range of $1.63 to $1.68 per share on net sales between $9.6 billion and $9.7 billion, with core sales to decline in the low-single digit percentage.

Previously, the company expected normalized earnings in the range of $1.50 to $1.65 per share on net sales between $9.1 billion and $9.3 billion, with core sales decline in the low-single digit percentage.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.63 per share on net sales of $9.25 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, the company projects normalized earnings in a range of $0.35 to $0.40 per share, net sales between $2.50 billion and $2.60 billion and core sales decline of 2 to 4 percent. Analysts expect earnings of $0.47 per share on net sales of $2.51 billion for the quarter.

The company said its outlook for full year and fourth quarter have been updated to reflect the inclusion of the Mapa/Spontex and Quickie businesses as part of continuing operations beginning in the fourth quarter.

"We are taking decisive and strategic actions to stabilize the company's performance in the near term and return to sustainable profitable growth over time," said Chris Peterson, Newell Brands Chief Financial Officer.

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