Newell Brands Files 10-Q for Q2 2024
Ticker: NWL · Form: 10-Q · Filed: Jul 26, 2024 · CIK: 814453
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
Related Tickers: NWL
TL;DR
NWL 10-Q filed for Q2 2024 - financials and ops update.
AI Summary
Newell Brands Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter of 2024, detailing financial performance and business operations. Key financial data and operational updates are presented for the reporting period.
Why It Matters
This filing provides investors and analysts with the latest financial results and operational details for Newell Brands, crucial for understanding the company's current performance and future outlook.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health or operational challenges.
Key Numbers
- 2024 Q2 — Reporting Period (Second quarter of 2024 financial performance)
- 2024-01-01 to 2024-06-30 — Year-to-Date Period (Financials for the first six months of 2024)
- 2023-04-01 to 2023-06-30 — Prior Year Q2 (Comparison period for Q2 2023)
Key Players & Entities
- NEWELL BRANDS INC. (company) — Filer of the 10-Q
- 20240630 (date) — Period of report
- 20240726 (date) — Filing date
- ATLANTA (location) — Company headquarters city
- GA (location) — Company headquarters state
FAQ
What is the filing date for this 10-Q report?
The filing date for this 10-Q report is 20240726.
What is the period of report for this 10-Q?
The conformed period of report for this 10-Q is 20240630.
What is the company's central index key?
The company's central index key is 0000814453.
What is the company's fiscal year end?
The company's fiscal year end is 1231.
What is the company's business address?
The company's business address is 6655 Peachtree Dunwoody Road, Atlanta, GA 30328.
Filing Stats: 4,820 words · 19 min read · ~16 pages · Grade level 15.9 · Accepted 2024-07-26 16:06:44
Key Financial Figures
- $1 — ANGE ON WHICH REGISTERED Common stock, $1 par value per share NWL Nasdaq Stock Ma
Filing Documents
- nwl-20240630.htm (10-Q) — 1471KB
- exhibit102-2024nonxemploye.htm (EX-10.2) — 19KB
- exhibit103-newellxcreditre.htm (EX-10.3) — 1333KB
- exhibit311-ceocertificatio.htm (EX-31.1) — 11KB
- exhibit312-cfocertificatio.htm (EX-31.2) — 10KB
- exhibit321-ceocertificatio.htm (EX-32.1) — 4KB
- exhibit322-cfocertificatio.htm (EX-32.2) — 5KB
- nwl-20240630_g1.gif (GRAPHIC) — 1KB
- 0000814453-24-000106.txt ( ) — 10243KB
- nwl-20240630.xsd (EX-101.SCH) — 57KB
- nwl-20240630_cal.xml (EX-101.CAL) — 76KB
- nwl-20240630_def.xml (EX-101.DEF) — 298KB
- nwl-20240630_lab.xml (EX-101.LAB) — 662KB
- nwl-20240630_pre.xml (EX-101.PRE) — 501KB
- nwl-20240630_htm.xml (XML) — 1547KB
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 26
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 37
Controls and Procedures
Item 4. Controls and Procedures 37
OTHER INFORMATION
PART II. OTHER INFORMATION 38
Legal Proceedings
Item 1. Legal Proceedings 38
Risk Factors
Item 1A. Risk Factors 38
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 38
Other Information
Item 5. Other Information 38
Exhibits
Item 6. Exhibits 39
SIGNATURES
SIGNATURES 40 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 June 30, Six Months Ended June 30, 2024 2023 2024 2023 Net sales $ 2,033 $ 2,204 $ 3,686 $ 4,009 Cost of products sold 1,334 1,575 2,483 2,898 Gross profit 699 629 1,203 1,111 Selling, general and administrative expenses 520 476 982 956 Restructuring costs, net 10 22 36 60 Impairment of goodwill, intangibles and other assets 6 11 6 11 Operating income 163 120 179 84 Non-operating expenses: Interest expense, net 78 76 148 144 Loss on extinguishment and modification of debt — — 1 — Other expense, net 1 9 6 21 Income (loss) before income taxes 84 35 24 ( 81 ) Income tax provision (benefit) 39 17 ( 12 ) 3 Net income (loss) $ 45 $ 18 $ 36 $ ( 84 ) Weighted average common shares outstanding: Basic 415.2 414.2 415.0 414.0 Diluted 418.2 415.3 417.9 414.0 Earnings (loss) per share: Basic $ 0.11 $ 0.04 $ 0.09 $ ( 0.20 ) Diluted $ 0.11 $ 0.04 $ 0.09 $ ( 0.20 ) COMPREHENSIVE INCOME (LOSS): Net income (loss) $ 45 $ 18 $ 36 $ ( 84 ) Other comprehensive income (loss), net of tax: Foreign currency translation adjustments ( 35 ) ( 10 ) ( 59 ) 8 Pension and postretirement costs — — 8 ( 1 ) Derivative financial instruments 7 ( 7 ) 14 ( 17 ) Total other comprehensive loss, net of tax ( 28 ) ( 17 ) ( 37 ) ( 10 ) Total comprehensive income (loss) $ 17 $ 1 $ ( 1 ) $ ( 94 ) 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) June 30, 2024 December 31, 2023 Assets: Cash and cash equivalents $ 382 $ 332 Accounts receivable, net 1,072 1,195 Inventories 1,639 1,531 Prepaid expenses and other current assets 332 296 Total current assets 3,425 3,354 Property,