Newell Brands Inc (NWL)

Shares of Newell Brands, Inc. (NWL) dropped by 9.88% from $7.39 to $6.66 in the trading on Friday, October 27, 2023. The reason why NWL stock down is due to the company's mixed quarterly results:

• In the third quarter, Newell Brands reported a 9.1% year-over-year decrease in net sales to $2.05 billion, resulting in adjusted (non-GAAP) earnings of $0.39 per share, down from $0.50 per share a year ago. Analysts had anticipated lower earnings at $0.24 per share but with higher sales of $2.11 billion.
• The revenue decline affected multiple segments, including a 7.1% drop in home and commercial solutions sales, an 8.1% reduction in learning and development segment revenue, and a 20.9% decline in outdoor and recreation segment sales.