Spectrum Brands Holdings Inc (SPB)

[Enterprising Investor]

Spectrum Brands Holdings Reports Fiscal 2024 Second Quarter Results (5/09/24)

- Net Sales Decreased 1.5% Driven by Lower Consumer Demand in Home Appliances, Aquatics Particularly in North America and the Impact of SKU Rationalizations, Offset by Strong POS in Controls Due to Favorable Weather Trends

- Net Income From Continuing Operations of $49.9 Million and Adjusted EBITDA of $112.3 Million Improved by $124.9 million and $61.3 million, Respectively

- Excluding Investment Income of $17.0 million, Adjusted EBITDA was $95.3 million

- Repurchased 1.2 million Shares in Q2 for $98 million

- Repurchased 12.1 Million Shares Since the Close of HHI Through Today for $920 Million

- Entered into New Long-Term Black & Decker License Agreement

- Updating Fiscal 2024 Earnings Framework and Now Expect Net Sales to be Relatively Flat Compared to Prior Year and, Excluding Investment Income, Adjusted EBITDA to Grow Low Double-Digits

https://www.businesswire.com/news/home/20240508537488/en/