Spectrum Brands Holdings Earnings: Here’s Why the Stock is Down Now
Spectrum Brands Holdings, Inc. (NYSE:SPB) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.43%.
Spectrum Brands Holdings, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 29.41% to $0.44 in the quarter versus EPS of $0.34 in the year-earlier quarter.
Revenue: Rose 32.36% to $987.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Spectrum Brands Holdings, Inc. reported adjusted EPS income of $0.44 per share. By that measure, the company missed the mean analyst estimate of $0.52. It beat the average revenue estimate of $970.16 million.
Quoting Management: “We delivered a good second quarter, which seasonally is our smallest quarter of the year,” said Dave Lumley, Chief Executive Officer of Spectrum Brands Holdings. “We were especially pleased with the quarter-over-quarter growth from our new HHI acquisition and improved adjusted EBITDA in the second quarter.”
Key Stats (on next page)…
Revenue increased 13.51% from $870.27 million in the previous quarter. EPS decreased 38.89% from $0.72 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $1.23 to a profit $1.2. For the current year, the average estimate has moved up from a profit of $3.3 to a profit of $3.36 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)