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  4. Newell Brands Cuts Guidance on Demand Worries as Inflation Squeezes Consumer
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Newell Brands Cuts Guidance on Demand Worries as Inflation Squeezes Consumer

By Yasin Ebrahim AiVIF.con -- Newell Brands on Tuesday cut its guidance for the current quarter and fiscal year warning that a deteriorating macroeconomic backdrop and an...
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Newell Brands Cuts Guidance on Demand Worries as Inflation Squeezes Consumer © Reuters.

By Yasin Ebrahim

AiVIF.con -- Newell Brands on Tuesday cut its guidance for the current quarter and fiscal year warning that a deteriorating macroeconomic backdrop and an inflation-squeezed consumer will hurt demand.

Newell Brands (NASDAQ:NWL) was down more than 8% in afterhours trading following the news. 

The company cut its guidance on third-quarter adjusted earnings per share to a range of $0.46 to $0.51, down from the prior guidance of $0.50 to $0.54, with sales trimmed to between $2.21 billion and $2.32 billion from $2.39 billion to $2.50 billion previously. This compared with Wall Street estimates for EPS of $0.53 per share on sales of $2.47 billion.

For 2022, the company expects adjusted EPS in a range of $1.56 to $1.70, down from $1.79 to $1.86, with sales forecast between $9.37 billion and $9.58 billion, down from $9.76 billion to $9.98 billion previously.

"[W]e have experienced a significantly greater than expected pullback in retailer orders and continued inflationary pressures on the consumer. As a result of these developments and our more cautious posture for the balance of the year, we are adjusting our expectations for the second half of 2022," the company said.

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01-05-2024 10:45:17 (UTC+7)

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
 S&P 5005,035.69↑ Sell
 DAX17,921.95↑ Sell
 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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