Spectrum Brands (SPB) Misses Q1 EPS by 31c
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Spectrum Brands to Acquire Tristar Products’ Appliance and Cookware Business and Combine It With Its Home and Personal Care Segment
February 4, 2022 6:30 AM ESTThis New Combined Business Is Intended to Be Separated From Spectrum Brands, Creating a New Standalone Global Company and a New Spectrum Brands Consisting of Its Global Pet Care and Home & Garden Businesses
Acquisition adds PowerXL, Emeril Lagasse and Copper Chef, well-established brands in the fast-growing cooking appliances category, with net sales totaling $546 million in last twelve months ending December 31, 2021, growing sales over 85% in the last three years Adds highly complementary and synergistic leading market share positions in the fastest growing cooking categories including air fryers, indoor grills, and... MoreSpectrum Brands Holdings Reports Fiscal 2022 First Quarter Results
February 4, 2022 6:30 AM ESTNet Sales Increased 2.9% and Organic Net Sales Increased 1.6% Income from Continuing Operations Decreased to a Loss of $30.2 Million and Adjusted EBITDA was $49.3 Million Attributable to Supply Chain Disruptions, Input Cost Inflation and Higher Restructuring Costs As Anticipated, Margins Contracted as Inflationary Costs were Materially Higher than Related Price Increases Additional Pricing Actions Throughout the Balance of the Year are Expected to Offset the Majority of Currently Projected Inflationary Increases of $310-$330 Million Maintaining 2022 Earnings Framework of Mid-to-High Single-Digit Net Sales Growth and Low Single-Digit Adjusted EBITDA... More
