Newell Announces Q1 2023 Results
On 28th April Newell Brands announced their first quarter financial results for 2023.
Chris Peterson, Newell Brands President, said, “First quarter results were relatively in-line with our expectations. We made meaningful progress implementing Project Phoenix and operationalising the distribution and transportation benefits associated with Project Ovid.
“While we continue to face a very challenging macroeconomic environment, I am confident that our portfolio of leading consumer brands and talented employees will allow us to further strengthen the company in the years ahead, as we sharpen our strategy, optimize our cost structure and fully leverage the scale of the company.”
Mark Erceg, Newell Brands Chief Financial Officer, added, “We are reaffirming our full year 2023 outlook, although we now expect to be towards the low end of the range since consumer discretionary spending in our categories remains under pressure making us incrementally more cautious on the overall operating environment. Despite these persistent near-term challenges, we remain committed to improving the company’s financial performance and creating sustainable shareholder value for our stakeholders.”
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