S&P 500 (NYSE:SPY) component Newell Rubbermaid Inc. (NYSE:NWL) reported its results for the third quarter. Newell Rubbermaid markets consumer and commercial products, including housewares, hardware, and home furnishings.
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Newell Rubbermaid Inc. Earnings Cheat Sheet
Results: Reported a profit of $108.3 million (37 cents per diluted share) in the quarter. Newell Rubbermaid Inc. had a net loss of $177.6 million or a loss 61 cents per share in the year-earlier quarter.
Revenue: Fell 0.9% to $1.54 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Newell Rubbermaid Inc. fell short of the mean analyst estimate of 44 cents per share. Analysts were expecting revenue of $1.52 billion.
Quoting Management: “Our solid third quarter results represent another step toward establishing a more consistent cadence of delivery. I am encouraged by the progress we have made over the last 15 months and excited by the significant potential that lies ahead,” said Michael Polk, President and Chief Executive Officer.
The company fell short of forecasts after beating estimates in the previous two quarters. In the second quarter, it topped the mark by 2 cents, and in the first quarter, it was ahead by 2 cents.
Revenue has dropped in the past two quarters. In the second quarter, revenue declined 3.6% to $1.52 billion from the year-earlier quarter.
Looking Forward: Analysts appear increasingly optimistic about the company’s results for the next quarter. The average estimate for the fourth quarter has moved up from 43 cents a share to 44 cents over the last thirty days. The average estimate for the fiscal year has risen to $1.68 per share from $1.67 in the past month.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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