Newell Rubbermaid Inc. Earnings: Profit Rises Year-Over-Year

S&P 500 (NYSE:SPY) component Newell Rubbermaid Inc. (NYSE:NWL) reported net income above Wall Street’s expectations for the first quarter. Newell Rubbermaid markets consumer and commercial products, including housewares, hardware, and home furnishings.

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Newell Rubbermaid Earnings Cheat Sheet for the First Quarter

Results: Net income for Newell Rubbermaid Inc. rose to $79.3 million (27 cents per share) vs. $75.7 million (25 cents per share) in the same quarter a year earlier. This marks a rise of 4.8% from the year-earlier quarter.

Revenue: Rose 4.6% to $1.33 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Newell Rubbermaid Inc. reported adjusted net income of 33 cents per share. By that measure, the company beat the mean estimate of 31 cents per share. It beat the average revenue estimate of $1.3 billion.

Quoting Management: Michael Polk, President and Chief Executive Officer, commented, “We’re encouraged by the solid start to the year. We generated 5.2 percent core sales growth, normalized operating margin expansion, and nearly 14 percent normalized EPS improvement. When adjusted for the timing shift related to our European SAP conversion, core sales growth was 2.9 percent and normalized EPS growth was about in the middle of our full year guidance range of three to six percent. These results were driven by strong performance in our Professional and Baby segments and continued double digit growth in Latin America and Asia. Our first quarter performance represents a positive step towards our full year guidance as we continue to strengthen our cadence of delivery.”

Key Stats:

The company has now topped analyst estimates for the last four quarters. It beat the mark by 2 cents in the fourth quarter of the last fiscal year, by 3 cents in the third quarter of the last fiscal year, and by 4 cents in the second quarter of the last fiscal year.

Looking Forward: Analysts appear increasingly negative about the company’s results for the next quarter. The average estimate for the second quarter has moved down from 48 cents a share to 46 cents over the last ninety days. The average estimate hasn’t changed from $1.68 per share for the fiscal year.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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