Newell Brands positive outlook for quarterly results
Leading global consumer goods company, Newell Brands, has announced its Q2 results.
It was another quarter of progress, delivering significant improvements in operating margin and operating cash flow. This is following a streamline and costed management plan driving better margin and cash flow progression in the second quarter.
Second Quarter 2019 Executive Summary
- Net sales from continuing operations were $2.1 billion, a decline of 3.9 percent compared with the prior year period
- Reported operating margin was 8.4 percent up from 3.8 percent in the prior year period.
- Operating cash flow was $191 million, a $180 million improvement versus a year ago.
- Gross debt came down by $517 million in the quarter; net debt was reduced by $777 million.
- The company announced its decision to retain the Rubbermaid Commercial Products business, which has previously been included in discontinued operations. In addition, the Rubbermaid Commercial Products to the continuing operations portfolio will be accretive to operating margins, normalized earnings per share and operating cash flow in 2020 and future years