Spectrum Brands Slips To Loss In Q4

RTTNews | 913 ngày trước
Spectrum Brands Slips To Loss In Q4

(RTTNews) - Consumer products company Spectrum Brands Holdings, Inc. (SPB) reported Friday a net loss from continuing operations of $24.8 million or $0.61 per share, compared to net income of $6.1 million or $0.14 per share in the prior-year quarter.

Excluding items, adjusted earnings from continuing operations was $0.48 per share, compared to $0.38 per share in the year-ago quarter.

Net sales decreased 1.1 percent to $749.5 million from $757.8 million in the same quarter last year, with significant unfavorable foreign currency impact. Net sales grew 7.3 percent organically, excluding the impact of fx and acquisition.

"Our latest financial results for the fourth quarter complete a challenging year for our business where we faced high input cost inflation, supply chain disruptions, and cost headwinds related to currency changes," said David Maura, Chairman and CEO.

Looking ahead to fiscal 2023, the company now expects to deliver low single-digit net sales growth, with foreign exchange expected to have a negative impact based upon current rates.

The company also said it expects to collect $4.3 billion upon completion of the sale of HHI, which is anticipated to close no later than the end of June 2023.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China Industrial Output Growth Tops Expectations; Retail Sales Disappoint

China's industrial production increased more than expected in April despite trade tariff hikes and the unemployment rate dropped marginally but growth in retail sales fell short of expectations signalling weaker domestic demand, official data revealed on Monday. Industrial output logged an annual growth of 6.1 percent in April after rising 7.7 percent in March.
RTTNews | 2h 12phút trước
Thai Downgrades GDP Growth Outlook

Thai Downgrades GDP Growth Outlook

Thailand's economy is projected to expand less than the previous estimate this year as trade tariffs are likely to dampen exports in the second half of the year, the National Economic and Social Development Council said Monday. Southeast Asia's second largest economy is forecast to grow in the range of 1.3 percent to 2.3 percent this year. This was down from the previous outlook of 2.3 percent-
RTTNews | 3h 45phút trước
Fijian Import & Export Recalls Ready-To-Eat Meat Pie Products

Fijian Import & Export Recalls Ready-To-Eat Meat Pie Products

Hayward, California-based Fijian Import & Export Co. Inc. is recalling around 127 pounds of ready-to-eat meat pie products from Australia that were not presented for import reinspection upon entry into the United States, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The recall involves 5.6-oz. plastic packages...
RTTNews | 4h 37phút trước
Australian Market Halves Early Losses In Mid-market

Australian Market Halves Early Losses In Mid-market

The Australian stock market is halving its early losses in mid-market trading on Monday, snapping an eight-session winning streak, despite the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling to near the 8,300.00 level, with weakness in iron ore miners, energy and financial stocks partially offset by gains in gold miners.
RTTNews | 6h 16phút trước