Newell Brands Inc. Files 10-Q for Period Ending March 31, 2024

Ticker: NWL · Form: 10-Q · Filed: Apr 26, 2024 · CIK: 814453

Sentiment: neutral

Topics: Newell Brands, 10-Q, Quarterly Report, Financial Filing, SEC

TL;DR

<b>Newell Brands Inc. has submitted its quarterly report (10-Q) for the period ending March 31, 2024.</b>

AI Summary

NEWELL BRANDS INC. (NWL) filed a Quarterly Report (10-Q) with the SEC on April 26, 2024. Newell Brands Inc. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. The filing was submitted on April 26, 2024. The company's principal business address is 6655 Peachtree Dunwoody Road, Atlanta, GA 30328.

Why It Matters

For investors and stakeholders tracking NEWELL BRANDS INC., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Newell Brands Inc. during the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: medium — NEWELL BRANDS INC. shows moderate risk based on this filing. The filing is a standard 10-Q, indicating routine financial reporting. However, the absence of specific financial performance data within the provided text necessitates a medium risk assessment as the full financial picture is not immediately available.

Analyst Insight

Review the full 10-Q filing to analyze revenue, net income, and debt levels for Q1 2024 to understand Newell Brands' financial performance.

Key Numbers

Key Players & Entities

FAQ

When did NEWELL BRANDS INC. file this 10-Q?

NEWELL BRANDS INC. filed this Quarterly Report (10-Q) with the SEC on April 26, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by NEWELL BRANDS INC. (NWL).

Where can I read the original 10-Q filing from NEWELL BRANDS INC.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by NEWELL BRANDS INC..

What are the key takeaways from NEWELL BRANDS INC.'s 10-Q?

NEWELL BRANDS INC. filed this 10-Q on April 26, 2024. Key takeaways: Newell Brands Inc. filed its 10-Q report for the period ending March 31, 2024.. The filing covers the first quarter of fiscal year 2024.. The company's fiscal year ends on December 31st..

Is NEWELL BRANDS INC. a risky investment based on this filing?

Based on this 10-Q, NEWELL BRANDS INC. presents a moderate-risk profile. The filing is a standard 10-Q, indicating routine financial reporting. However, the absence of specific financial performance data within the provided text necessitates a medium risk assessment as the full financial picture is not immediately available.

What should investors do after reading NEWELL BRANDS INC.'s 10-Q?

Review the full 10-Q filing to analyze revenue, net income, and debt levels for Q1 2024 to understand Newell Brands' financial performance. The overall sentiment from this filing is neutral.

How does NEWELL BRANDS INC. compare to its industry peers?

Newell Brands Inc. operates in the consumer goods sector, manufacturing and marketing a wide range of products. This filing provides insights into their performance within this competitive industry.

Are there regulatory concerns for NEWELL BRANDS INC.?

As a publicly traded company, Newell Brands Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly reports (10-Q).

Industry Context

Newell Brands Inc. operates in the consumer goods sector, manufacturing and marketing a wide range of products. This filing provides insights into their performance within this competitive industry.

Regulatory Implications

As a publicly traded company, Newell Brands Inc. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the filing of quarterly reports (10-Q).

What Investors Should Do

  1. Analyze the detailed financial statements within the 10-Q for revenue, expenses, and profitability.
  2. Review the Management's Discussion and Analysis (MD&A) section for insights into the company's performance drivers and outlook.
  3. Examine any disclosed risk factors or legal proceedings that could impact the company's future operations.

Key Dates

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, providing the initial quarterly financial data for the year.

Filing Stats: 4,649 words · 19 min read · ~15 pages · Grade level 16.7 · Accepted 2024-04-26 16:00:53

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 2

Financial Statements

Item 1. Financial Statements 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosures about Market Risk

Item 3. Quantitative and Qualitative Disclosures about Market Risk 32

Controls and Procedures

Item 4. Controls and Procedures 32

OTHER INFORMATION

PART II. OTHER INFORMATION 33

Legal Proceedings

Item 1. Legal Proceedings 33

Risk Factors

Item 1A. Risk Factors 33

Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 33

Other Information

Item 5. Other Information 33

Exhibits

Item 6. Exhibits 34

SIGNATURES

SIGNATURES 35 1 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements NEWELL BRANDS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) (Amounts in millions, except per share amounts) Three Months Ended March 31, 2024 2023 Net sales $ 1,653 $ 1,805 Cost of products sold 1,149 1,323 Gross profit 504 482 Selling, general and administrative expenses 462 480 Restructuring costs, net 26 38 Operating income (loss) 16 ( 36 ) Non-operating expenses: Interest expense, net 70 68 Loss on extinguishment and modification of debt 1 — Other expense, net 5 12 Loss before income taxes ( 60 ) ( 116 ) Income tax benefit ( 51 ) ( 14 ) Net loss $ ( 9 ) $ ( 102 ) Weighted average common shares outstanding: Basic 414.7 413.9 Diluted 414.7 413.9 Loss per share: Basic $ ( 0.02 ) $ ( 0.25 ) Diluted $ ( 0.02 ) $ ( 0.25 ) COMPREHENSIVE INCOME (LOSS): Net loss $ ( 9 ) $ ( 102 ) Other comprehensive income (loss), net of tax: Foreign currency translation adjustments ( 24 ) 18 Pension and postretirement costs 8 ( 1 ) Derivative financial instruments 7 ( 10 ) Total other comprehensive income (loss), net of tax ( 9 ) 7 Total comprehensive loss $ ( 18 ) $ ( 95 ) See Notes to Condensed Consolidated Financial Statements (Unaudited). 2 Table of Contents NEWELL BRANDS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Amounts in millions, except par values) March 31, 2024 December 31, 2023 Assets: Cash and cash equivalents $ 372 $ 332 Accounts receivable, net 958 1,195 Inventories 1,695 1,531 Prepaid expenses and other current assets 376 296 Total current assets 3,401 3,354 Property, plant and equipment, net 1,194 1,212 Operating lease assets 492 515 Goodwill 3,059 3,071 Other intangible assets, net 2,447 2,488 Deferred income taxes 775 806 Other assets 732 717 Total assets $ 12,100 $ 12,163 Liabilities: Accounts payable $ 1,038 $ 1,003 Other accrued liabilities 1,489 1,565 Short-term debt and c

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