Reflecting On Household Products Stocks’ Q3 Earnings: Reynolds (NASDAQ:REYN)
As Q3 earnings season comes to a close, it’s time to take stock of this quarter's best and worst performers amongst the household products stocks, including Reynolds (NASDAQ:REYN) and its peers.
Household products companies engage in the manufacturing, distribution, and sale of goods that maintain and enhance the home environment. This includes cleaning supplies, home improvement tools, kitchenware, small appliances, and home decor items. Companies within this sector must focus on product quality, innovation, and cost efficiency to remain competitive. Household products stocks are generally stable investments, as many of the industry's products are essential for a comfortable and functional living space. Recently, there's been a growing emphasis on eco-friendly and sustainable offerings, reflecting the evolving consumer preferences for environmentally conscious options.
The 10 household products stocks we track reported a decent Q3; on average, revenues beat analyst consensus estimates by 1.9% Inflation (despite slowing) has investors prioritizing near-term cash flows, but household products stocks held their ground better than others, with the share prices up 7.1% on average since the previous earnings results.
Reynolds (NASDAQ:REYN)
Best known for its aluminum foil, Reynolds (NASDAQ:REYN) is a household products company whose products focus on food storage, cooking, and waste.
Reynolds reported revenues of $935 million, down 3.3% year on year, in line with analyst expectations. It was a strong quarter for the company, with a beat of analysts' revenue estimates.
“RCP continues to perform very effectively in a dynamic operating environment, and I am extremely proud of all that our team has accomplished,” said Lance Mitchell, President and Chief Executive Officer.
The stock is up 6.1% since the results and currently trades at $27.29.
Is now the time to buy Reynolds? Access our full analysis of the earnings results here, it's free.
Best Q3: Clorox (NYSE:CLX)
Founded in 1913 with bleach as the sole product offering, Clorox (NYSE:CLX) today is a consumer products giant whose product portfolio spans everything from bleach to skincare to salad dressing to kitty litter.
Clorox reported revenues of $1.39 billion, down 20.3% year on year, outperforming analyst expectations by 5.8%. It was a very strong quarter for the company, with an impressive beat of analysts' earnings estimates.
Clorox pulled off the biggest analyst estimates beat but had the slowest revenue growth among its peers. The stock is up 22.5% since the results and currently trades at $141.37.
Is now the time to buy Clorox? Access our full analysis of the earnings results here, it's free.
Weakest Q3: Central Garden & Pet (NASDAQ:CENT)
Enhancing the lives of both pets and homeowners, Central Garden & Pet (NASDAQGS:CENT) is a leading producer and distributor of essential products for pet care, lawn and garden maintenance, and pest control.
Central Garden & Pet reported revenues of $750.1 million, up 6% year on year, exceeding analyst expectations by 2.1%. It was a weak quarter for the company, with a miss of analysts' EPS estimates.
The stock is up 10.4% since the results and currently trades at $48.38.
Read our full analysis of Central Garden & Pet's results here.
WD-40 (NASDAQ:WDFC)
Short for “Water Displacement perfected on the 40th try”, WD-40 (NASDAQGS:WDFC) is a renowned American consumer goods company known for its iconic and versatile spray, WD-40 Multi-Use Product.
WD-40 reported revenues of $140.4 million, up 12.4% year on year, surpassing analyst expectations by 4.5%. It was an impressive quarter for the company, with a solid beat of analysts' revenue estimates.
WD-40 scored the fastest revenue growth among its peers. The stock is up 15% since the results and currently trades at $272.22.
Read our full, actionable report on WD-40 here, it's free.
Spectrum Brands (NYSE:SPB)
A leader in multiple consumer product categories, Spectrum Brands (NYSE:SPB) is a diversified company with a portfolio of trusted brands spanning home appliances, garden care, personal care, and pet care.
Spectrum Brands reported revenues of $740.7 million, down 1.2% year on year, in line with analyst expectations. It was an impressive quarter for the company, with a solid beat of analysts' revenue estimates.
The stock is up 1.2% since the results and currently trades at $77.82.
Read our full, actionable report on Spectrum Brands here, it's free.
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The author has no position in any of the stocks mentioned
