Newell Brands Boosts FY21 Net Sales Outlook - Quick Facts

(RTTNews) - While reporting financial results for the second quarter on Friday, consumer goods company Newell Brands, Inc. (NWL) maintained its normalized earnings guidance for the full-year 2021, while raising annual net sales outlook, to reflect the stronger than expected demand, higher productivity savings, as well as an unprecedented escalation in inflation.

For fiscal 2021, the company now projects normalized earnings in a range of $1.63 to $1.73 per share on net sales between $10.1 billion to $10.35 billion, with core sales growth of 7 to 10 percent.

Previously, the company expected normalized earnings in a range of $1.63 to $1.73 per share on net sales between $9.9 billion to $10.1 billion, with core sales growth of 5 to 7 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.72 per share on revenues of $10.10 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, the company anticipates normalized earnings in a range of $0.46 to $0.50 per share on net sales between $2.70 billion to $2.78 billion, with core sales growth of flat to 3 percent.

The Street is looking for earnings of $0.55 per share on revenues of $2.59 billion for the quarter.