Spectrum Brands Q1 2025 10-Q Filed
Ticker: SPB · Form: 10-Q · Filed: Feb 6, 2025 · CIK: 109177
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
Spectrum Brands 10-Q filed: Q1 FY25 results out, check financials.
AI Summary
Spectrum Brands Holdings, Inc. filed its 10-Q for the period ending December 29, 2024. The filing covers the first quarter of fiscal year 2025, detailing financial performance and operational updates. Key financial data and segment information for continuing operations are presented for the current and prior year periods.
Why It Matters
This filing provides investors with the latest financial performance data for Spectrum Brands, crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the specific details within can reveal significant financial health indicators or operational challenges.
Key Numbers
- 0930 — Fiscal Year End (Indicates the end of the company's annual accounting cycle.)
- 2024-12-29 — Quarter End Date (Marks the end of the reporting period for this 10-Q.)
- 2023-12-31 — Prior Year Quarter End (Used for comparative financial analysis.)
Key Players & Entities
- Spectrum Brands Holdings, Inc. (company) — Filer of the 10-Q
- 2024-12-29 (date) — End of the reporting period
- 2025-02-06 (date) — Filing date
- Middleton, WI (location) — Company headquarters
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended December 29, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on February 6, 2025.
What is the company's fiscal year end?
Spectrum Brands Holdings, Inc.'s fiscal year ends on September 30.
What was the previous company name before Spectrum Brands Holdings, Inc.?
The company was formerly known as HRG Group, Inc. and before that, Harbinger Group Inc., and Zapata Corp.
Where is Spectrum Brands Holdings, Inc. headquartered?
Spectrum Brands Holdings, Inc. is headquartered in Middleton, WI.
Filing Stats: 4,566 words · 18 min read · ~15 pages · Grade level 9.9 · Accepted 2025-02-06 10:04:35
Key Financial Figures
- $0.01 — ange On Which Registered Common Stock, $0.01 par value SPB New York Stock Exchange
Filing Documents
- spb-20241229.htm (10-Q) — 1474KB
- spb-q1f25ex221.htm (EX-22.1) — 17KB
- spb-q1f25ex311.htm (EX-31.1) — 10KB
- spb-q1f25ex312.htm (EX-31.2) — 10KB
- spb-q1f25ex321.htm (EX-32.1) — 7KB
- spb-q1f25ex322.htm (EX-32.2) — 7KB
- spb-20241229_g1.jpg (GRAPHIC) — 237KB
- 0000109177-25-000009.txt ( ) — 8500KB
- spb-20241229.xsd (EX-101.SCH) — 41KB
- spb-20241229_cal.xml (EX-101.CAL) — 83KB
- spb-20241229_def.xml (EX-101.DEF) — 252KB
- spb-20241229_lab.xml (EX-101.LAB) — 625KB
- spb-20241229_pre.xml (EX-101.PRE) — 443KB
- spb-20241229_htm.xml (XML) — 1277KB
Forward-Looking Statements
Forward-Looking Statements We have made or implied certain forward-looking statements in this document. All statements, other than statements of historical facts included or incorporated by reference in this document, including the statements under Management's Discussion and Analysis of Financial Condition and Results of Operations, without limitation, statements or expectations regarding our business strategy, future operations, financial condition, estimated revenues, projected costs, inventory management, earnings power, prospects, plans and objectives of management, the geopolitical environment and impact of tariffs and information concerning expected actions of third parties are forward-looking statements. When used in this report, the words future, anticipate, pro forma, seek, intend, plan, envision, estimate, believe, belief, expect, project, forecast, outlook, earnings framework, goal, target, could, would, will, can, should, may and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Because these forward-looking statements are based upon our current expectations of future events and projections and are subject to a number of risks and uncertainties, many of which are beyond our control and some of which may change rapidly, actual results or outcomes may differ materially from those expressed or implied herein, and you should not place undue reliance on these statements. Important factors that could cause our actual results to differ materially from those expressed or implied herein include, without limitation: the economic, social and political conditions or civil unrest, terrorist attacks, acts of war, natural disasters, other public health concerns or unrest in the United States ("U.S.") or the international markets impacting our business, customers, employees (including our ability to retain and attract key personnel), manufacturing facilities, suppliers
Financial Statements (unaudited)
Financial Statements (unaudited) 4 Condensed Consolidated Statements of Financial Position as of December 29, 2024 and September 30, 2024 4 Condensed Consolidated Statements of Income for the three month period s ended December 29, 2024 and December 31, 2023 5 Condensed Consolidated Statements of Comprehensive Income for the three month period s ended December 29, 2024 and December 31, 2023 6 Condensed Consolidated Statements of Shareholders' Equity for the three month period s ended December 29, 2024 and December 31, 2023 7 Condensed Consolidated Statements of Cash Flows for the three month period s ended December 29, 2024 and December 31, 2023 8 Notes to the Condensed Consolidated Financial Statements 9 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 19 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 26 Item 4.
Controls and Procedures
Controls and Procedures 26 PART II OTHER INFORMATION Item 1.
Legal Proceedings
Legal Proceedings 26 Item 1A.
Risk Factors
Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 27 Item 5. Other Information 27 Item 6. Exhibits 27
Signatures
Signatures 28 3 Table of Contents
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements (Unaudited)
Item 1. Financial Statements (Unaudited) SPECTRUM BRANDS HOLDINGS, INC. Condensed Consolidated Statements of Financial Position As of December 29, 2024 and September 30, 2024 (unaudited) (in millions) December 29, 2024 September 30, 2024 Assets Cash and cash equivalents $ 179.9 $ 368.9 Trade receivables, net 615.2 635.4 Other receivables 64.9 70.7 Inventories 507.4 462.1 Prepaid expenses and other current assets 39.3 41.5 Total current assets 1,406.7 1,578.6 Property, plant and equipment, net 255.8 266.6 Operating lease assets 94.5 101.9 Deferred charges and other 38.2 39.9 Goodwill 856.5 864.9 Intangible assets, net 962.9 990.4 Total assets $ 3,614.6 $ 3,842.3 Liabilities and Shareholders' Equity Current portion of long-term debt $ 9.2 $ 9.4 Accounts payable 361.6 397.3 Accrued wages and salaries 31.6 78.8 Accrued interest 3.1 4.7 Income tax payable 25.3 25.0 Other current liabilities 156.4 171.9 Total current liabilities 587.2 687.1 Long-term debt, net of current portion 549.6 551.4 Long-term operating lease liabilities 79.0 87.0 Deferred income taxes 167.1 170.8 Uncertain tax benefit obligation 174.6 171.5 Other long-term liabilities 28.5 32.8 Total liabilities 1,586.0 1,700.6 Commitments and contingencies (Note 13) Shareholders' equity Common stock 0.5 0.5 Additional paid-in capital 1,982.5 1,988.1 Accumulated earnings 2,178.9 2,169.0 Accumulated other comprehensive loss, net of tax ( 253.1 ) ( 204.0 ) Treasury stock ( 1,880.3 ) ( 1,812.7 ) Total shareholders' equity 2,028.5 2,140.9 Non-controlling interest 0.1 0.8 Total equity 2,028.6 2,141.7 Total liabilities and equity $ 3,614.6 $ 3,842.3 See accompanying notes to the condensed consolidated financial statements 4 Table of Contents SPECTRUM BRANDS HOLDINGS, INC. Condensed Consolidated Statements of Income For the three month periods ended December 29, 2024 and December 31, 2023 (unaudited) Three Month Periods Ended (in millions, except per share)