Newell Brands Announces Q2 2024 Results

Newell Brands announces its financial results for the second quarter of 2024.

Highlights included:

Second quarter net sales were $2.0 billion, a decline of 7.8 percent compared with the prior year period. Core sales declined 4.2 percent compared with the prior year period.
Second quarter reported gross margin increased to 34.4 percent compared with 28.5 percent in the prior year period. Normalized gross margin increased to 34.8 percent compared with 29.9 percent in the prior year period.
Second quarter reported operating margin increased to 8.0 percent compared with 5.4 percent in the prior year period. Normalized operating margin increased to 10.8 percent compared with 9.1 percent in the prior year period.
Second quarter reported net income was $45 million compared with $18 million in the prior year period.
Second quarter reported diluted earnings per share were $0.11 compared with $0.04 in the prior year period. Normalized diluted earnings per share were $0.36 compared with $0.24 in the prior year period.
Year-to-date operating cash flow was $64 million compared with $277 million in the prior year period.
The company raised its full year 2024 outlook.