Newell Brands reports 2024 financial results

Newell Brands has announced its fourth-quarter and full-year 2024 results, showing a small decline in sales but improved profitability.

Quarterly net sales fell 6.1% year-on-year to $1.95 billion, with core sales down 3%. However, gross margin rose to 34.9% from 30.3%, driven by cost savings and pricing strategies. The company posted a net loss of $54 million ($0.13 per share), an improvement from last year’s $86 million loss. Normalised earnings per share reached $0.16, exceeding analyst expectations.

For the full year, Newell reported $7.8 billion in net sales, impacted by weaker core sales, currency fluctuations, and business exits. Operating cash flow stood at $500 million, including $150 million in restructuring costs.

Looking ahead, the company expects sales to decline by 2% to 4% in 2025, with normalised earnings per share between $0.70 and $0.76. First-quarter sales are forecast to drop 5% to 8%, with a normalised loss per share of up to $0.09.

CEO Chris Peterson acknowledged ongoing challenges but remains focused on returning the company to growth. Following the announcement, Newell’s stock dropped 26% to $7.17.

More information here.