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Why is Newell Brands Inc (NWL) Stock down?
We've noticed a 5.67% decline in Newell Brands Inc (NWL) stock during the 2024-10-29 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
27 Oct, 2023:
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.
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