Spectrum Brands Holdings Inc (SPB)

Shares of Spectrum Brands Holdings (SPB) dropped by 11.81% from $96.90 to $67.82 in the trading on Friday, Novemeber 17, 2023. The reason why SPB is down today is due to the company's announcement of weaker-than-expected quarterly result.

• Quarterly Performance: Despite reporting earnings of 65 cents per share (beating estimates) and sales of $290.56 million (also exceeding expectations), SPB faced challenges from global supply chain disruptions and fewer shipping days in the quarter. Inflation pressures were also a concern.
• Q4 2023 Highlights: In Q4 2023, adjusted earnings were 38 cents per share (below estimates), while net sales grew 2.8% to $747.8 million. However, organic net sales fell by 3.4%. The gross profit increased 1.6%, but the gross margin contracted due to higher costs. SG&A expenses rose 8.8%.

Shares of Spectrum Brands Holdings (SPB) dropped by 11.81% from $96.90 to $67.82 in the trading on Friday, Novemeber 17, 2023. The reason why SPB is down today is due to the company's announcement of weaker-than-expected quarterly result.

• Quarterly Performance: Despite reporting earnings of 65 cents per share (beating estimates) and sales of $290.56 million (also exceeding expectations), SPB faced challenges from global supply chain disruptions and fewer shipping days in the quarter. Inflation pressures were also a concern.
• Q4 2023 Highlights: In Q4 2023, adjusted earnings were 38 cents per share (below estimates), while net sales grew 2.8% to $747.8 million. However, organic net sales fell by 3.4%. The gross profit increased 1.6%, but the gross margin contracted due to higher costs. SG&A expenses rose 8.8%.