Newell Brands Files Q3 2024 10-Q
Ticker: NWL · Form: 10-Q · Filed: Oct 25, 2024 · CIK: 814453
Sentiment: neutral
Topics: 10-Q, quarterly-report, consumer-goods
TL;DR
NWL Q3 10-Q filed. Financials out.
AI Summary
Newell Brands Inc. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter of 2024, detailing financial performance and operational updates. Specific financial figures and operational details for the quarter and year-to-date periods are presented within the report.
Why It Matters
This filing provides investors with the latest financial performance data for Newell Brands, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company, Newell Brands is subject to market fluctuations and business risks inherent in the consumer goods sector.
Key Numbers
- 2024 Q3 — Reporting Period (The filing covers the third quarter of fiscal year 2024.)
- 2024-09-30 — As of Date (The financial data presented is as of September 30, 2024.)
Key Players & Entities
- NEWELL BRANDS INC. (company) — Filer
- 20240930 (date) — Period of Report
- 20241025 (date) — Filing Date
- ATLANTA (location) — Business Address City
- DE (location) — State of Incorporation
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 25, 2024.
What is the company's primary SIC code?
The company's primary SIC code is 3089 for PLASTICS PRODUCTS, NEC.
Where is Newell Brands Inc. incorporated?
Newell Brands Inc. is incorporated in Delaware (DE).
What is the fiscal year end for Newell Brands Inc.?
The fiscal year end for Newell Brands Inc. is December 31.
Filing Stats: 4,812 words · 19 min read · ~16 pages · Grade level 16 · Accepted 2024-10-25 16:48:36
Key Financial Figures
- $1 — ANGE ON WHICH REGISTERED Common stock, $1 par value per share NWL Nasdaq Stock Ma
Filing Documents
- nwl-20240930.htm (10-Q) — 1513KB
- exhibit311-ceocertificatio.htm (EX-31.1) — 11KB
- exhibit312-cfocertificatio.htm (EX-31.2) — 11KB
- exhibit321-ceocertificatio.htm (EX-32.1) — 4KB
- exhibit322-cfocertificatio.htm (EX-32.2) — 5KB
- nwl-20240930_g1.gif (GRAPHIC) — 1KB
- 0000814453-24-000115.txt ( ) — 8846KB
- nwl-20240930.xsd (EX-101.SCH) — 57KB
- nwl-20240930_cal.xml (EX-101.CAL) — 76KB
- nwl-20240930_def.xml (EX-101.DEF) — 298KB
- nwl-20240930_lab.xml (EX-101.LAB) — 671KB
- nwl-20240930_pre.xml (EX-101.PRE) — 505KB
- nwl-20240930_htm.xml (XML) — 1585KB
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 27
Quantitative and Qualitative Disclosures about Market Risk
Item 3. Quantitative and Qualitative Disclosures about Market Risk 39
Controls and Procedures
Item 4. Controls and Procedures 39
OTHER INFORMATION
PART II. OTHER INFORMATION 41
Legal Proceedings
Item 1. Legal Proceedings 41
Risk Factors
Item 1A. Risk Factors 41
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 41
Other Information
Item 5. Other Information 41
Exhibits
Item 6. Exhibits 42
SIGNATURES
SIGNATURES 43 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 September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 1,947 $ 2,048 $ 5,633 $ 6,057 Cost of products sold 1,268 1,427 3,751 4,325 Gross profit 679 621 1,882 1,732 Selling, general and administrative expenses 536 501 1,518 1,457 Restructuring costs, net 4 16 40 76 Impairment of goodwill, intangibles and other assets 260 263 266 274 Operating income (loss) ( 121 ) ( 159 ) 58 ( 75 ) Non-operating expenses: Interest expense, net 75 69 223 213 Loss on extinguishment and modification of debt — — 1 — Other expense, net 9 70 15 91 Loss before income taxes ( 205 ) ( 298 ) ( 181 ) ( 379 ) Income tax benefit ( 7 ) ( 80 ) ( 19 ) ( 77 ) Net loss $ ( 198 ) $ ( 218 ) $ ( 162 ) $ ( 302 ) Weighted average common shares outstanding: Basic 416.0 414.2 415.3 414.1 Diluted 416.0 414.2 415.3 414.1 Loss per share: Basic $ ( 0.48 ) $ ( 0.53 ) $ ( 0.39 ) $ ( 0.73 ) Diluted $ ( 0.48 ) $ ( 0.53 ) $ ( 0.39 ) $ ( 0.73 ) COMPREHENSIVE INCOME (LOSS): Net loss $ ( 198 ) $ ( 218 ) $ ( 162 ) $ ( 302 ) Other comprehensive income (loss), net of tax: Foreign currency translation adjustments ( 2 ) ( 16 ) ( 61 ) ( 8 ) Pension and postretirement costs ( 3 ) 53 5 52 Derivative financial instruments ( 1 ) 9 13 ( 8 ) Total other comprehensive income (loss), net of tax ( 6 ) 46 ( 43 ) 36 Total comprehensive loss $ ( 204 ) $ ( 172 ) $ ( 205 ) $ ( 266 ) 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) September 30, 2024 December 31, 2023 Assets: Cash and cash equivalents $ 494 $ 332 Accounts receivable, net 931 1,195 Inventories 1,652 1,531 Prepaid e