Newell announces Q2 results

Newell Brands sees a positive quarter for sales, bringing the company back into line with pre-covid levels.

Topline results included:

• Net sales were $2.7 billion, a 28.3 percent increase compared with the prior year period. During which the company experienced a significant business disruption from the COVID-19 pandemic.
• Core sales grew 25.4 percent compared with the prior year period.
• Reported operating margin was 11.3 percent compared with 7.7 percent in the prior year period.

Chris Peterson, Chief Financial Officer and President, Business Operations, said: “Second quarter results exceeded our expectations across key financial metrics, including operating margin and cash conversion. We are updating our full year 2021 outlook to account for stronger than expected demand, higher productivity savings, as well as an unprecedented escalation in inflation.”

Read more here.