UBS downgrades Newell Brands, looks for more attractive valuation to become constructive [Seeking Alpha]
Newell Brands Inc. (NWL)
Last newell brands inc. earnings: 5/1 07:30 am
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US:NYSE Investor Relations:
ir.newellbrands.com/investor-relations/default.aspx
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Source: Seeking Alpha
Brokerage says, it had long expected CEO Chris Peterson's turnaround strategy to result in more consistent financial delivery and multiple expansion. While UBS continues to believe in the strategy, it had anticipated greater progress at this stage. UBS also believes, a return to top line growth is likely needed in order for these benefits to flow through, which it does not expect until 2025 (it forecast core sales down -5.2% in '24, with growth of +1.5% in '25). "Although current valuation may suggest that FY24 estimates are now de-risked with the potential for upside from here, it views this as unlikely given the top line backdrop," UBS added. At this stage, UBS says the brokerage "would need a more attractive valuation or greater visibility into profitable top line growth in order to become constructive again." Newell Brands ( NWL ) earlier this month initiated full year 2024 outlook for net sales decline of 8% to 5% and normalized earnings per share of $0.52 to $0.62 vs. $0.
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NWL
News
- Newell (NWL) Earnings Surpass Estimates in Q1 Sales Dip Y/Y [Yahoo! Finance]Yahoo! Finance
- Why Newell Brands is trimming its brand portfolio: CEO [Yahoo! Finance]Yahoo! Finance
- Here's What Key Metrics Tell Us About Newell Brands (NWL) Q1 Earnings [Yahoo! Finance]Yahoo! Finance
- Newell Brands breaks even in Q1 amid progress on turnaround plans [Seeking Alpha]Seeking Alpha
- Newell Brands Announces First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
NWL
Earnings
- 4/26/24 - Beat
NWL
Sec Filings
- 4/26/24 - Form 10-Q
- 4/26/24 - Form 8-K
- 3/27/24 - Form ARS
- NWL's page on the SEC website