Research Desk Line-up: Acme United Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 24, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Newell Brands Inc. (NYSE: NWL), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=NWL, following the Company's announcement of its financial results on August 04, 2017, for the second quarter fiscal 2017. The Company's revenue increased 5.1% on a y-o-y basis and topped analysts' estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Housewares & Accessories industry. Pro-TD has currently selected Acme United Corporation (NYSE American: ACU) for due-diligence and potential coverage as the Company announced on July 25, 2017, its financial results for Q2 which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Acme United when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on NWL; also brushing on ACU. With the links below you can directly download the report of your stock of interest free of charge at:
For three months ended June 30, 2017, Newell Brands' revenue increased 5.1% to $4.05 billion on a y-o-y basis from $3.86 billion in Q2 FY16. The revenue surpassed analysts' expectations of $3.96 billion.
During Q2 FY17, Newell Brands' gross profit increased 34.6% to $1.48 billion from $1.10 billion in Q2 FY16. For the reported quarter, the Company's gross margin increased 800 basis points to 36.4% of revenue from 28.4% of revenue in Q2 FY16.
For the reported quarter, the Company's selling, general, and administrative expenses (SG&A) increased 0.9% to $955.5 million from $947.0 million in Q2 FY16. During Q2 FY17, Newell Brands' operating income increased 207.3% to $423.1 million from $137.7 million in the same quarter last year. During Q2 FY17, the Company's operating margin increased 680 basis points to 10.4% of revenue from 3.6% of revenue in Q2 FY16.
For the reported quarter, Newell Brands' effective tax rate was 17.6% compared to 20.3% in Q2 FY16.
During Q2 FY17, Newell Brands' net income increased 64.2% to $223 million from $135.2 million in Q2 FY16. For the reported quarter, the Company's normalized net income increased 20.8% to $421.9 million on a y-o-y basis from $349.2 million in Q2 FY16. For the reported quarter, the Company's diluted EPS increased 53.3% to $0.46 from $0.30 in Q2 FY16. During Q2 FY17, Newell Brands' normalized diluted EPS increased 11.5% to $0.87 on a y-o-y basis from $0.78 in Q2 FY16. The normalized diluted EPS surpassed analysts' expectations of $0.86.
On August 10, 2017, the Company announced a quarterly cash dividend of $0.23 per share, payable on September 15, 2017, to common stockholders of record at the close of business on August 31, 2017.
Newell Brands' Segment Details
Live - During Q2 FY17, the Live segment's revenue increased 13.8% to $1.28 billion from $1.12 billion in Q2 FY16. For the reported quarter, the segment's operating income was $96.2 million compared to $2.5 million in Q2 FY16. During Q2 FY17, the segment's normalized operating income decreased 0.7% to $120.6 million from $121.4 million in the same quarter last year.
Learn - During Q2 FY17, the Learn segment's revenue increased 10.9% to $1.01 billion from $911.7 million in Q2 FY16. For the reported quarter, the segment's operating income was $304.5 million compared to $233.3 million in Q2 FY16. During Q2 FY17, the segment's normalized operating income increased 9.6% to $330.2 million from $301.4 million in the same quarter last year.
Work - During Q2 FY17, the Work segment's revenue increased 14.1% to $737.7 million from $646.8 million in Q2 FY16. For the reported quarter, the segment's operating income was $120.5 million compared to $27.2 million in Q2 FY16. During Q2 FY17, the segment's normalized operating income increased 35.5% to $131.7 million from $97.2 million in the same quarter last year.
Play - During Q2 FY17, the Live segment's revenue increased 14.2% to $782.0 million from $685.0 million in Q2 FY16. For the reported quarter, the segment's operating income was $89.0 million compared to $2.2 million in Q2 FY16. During Q2 FY17, the segment's normalized operating income increased 3.7% to $102.5 million from $98.8 million in the same quarter last year.
As on June 30, 2017, Newell Brands' cash and cash equivalents increased 24.4% to $780.2 million from $627.3 million in H1 FY16.
During H1 FY17, the Company's inventories decreased 8.9% to $2.65 million from $2.91 billion in H1 FY16. During H1 FY17, Newell Brands' accounts payable increased 9.6% to $1.72 billion from $1.57 billion in H1 FY16.
During H1 FY17, the Company's long-term debt decreased 15.5% to $10.17 billion from $12.04 billion in H1 FY16. During H1 FY17, Newell Brands' cash provided by operating activities was negative $241.0 million compared to positive $335.9 million in H1 FY16.
For FY17, Newell Brands expects revenue to be in the range of $14.8 billion-$15.0 billion and net sales growth to be in the range of 11.5%-13.0%.
The Company estimates effective tax rate to be in the range of 22%-23% and normalized diluted EPS to be in the range of $3.0-$3.20 for fiscal 2017.
At the closing bell, on Wednesday, August 23, 2017, Newell Brands' stock was marginally down 0.14%, ending the trading session at $48.69. A total volume of 2.69 million shares have exchanged hands. The Company's stock price advanced 3.62% in the past six months. Moreover, the stock gained 9.05% since the start of the year. The stock is trading at a PE ratio of 19.52 and has a dividend yield of 1.89%. The stock currently has a market cap of $24.10 billion.
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