Newell Brands (NWL), parent company of Rubbermaid, is down more than 20% after reporting quarterly earnings before the bell Friday morning. The company posted an earnings per share beat, topping Wall Street estimates by $0.06. Newell Brands missed on revenues, seeing a 6% decline year over year to $2.34 billion, falling short of the $2.43 billion expectation.
The company also issued updated downside guidance for the upcoming quarter and 2019 fiscal year, with both earnings per share and revenues falling below Wall Street estimates in both categories.
Newell Brands CEO Michael Polk said that despite the ongoing negative impact of retailer bankruptcies, foreign exchange, inflation and tariffs, the company expects to stabilize, resume core sales growth and increase margins.
Newell Brands stock is lower by -20.64%, while the S&P 500 has risen 0.73% as of 1:55 PM on Friday, Feb 15. NWL stock is lower by -$4.48 from the previous closing price of $21.69 on volume of 30,213,495 shares.
Over the past year the S&P 500 is higher by 1.27% while Newell Brands stock is lower by -37.74%. NWL stock earned $2.78 a share in the most-recent quarter, giving it a price-to-earnings ratio of 6.19.
Stock Score Report, InvestorsObserver’s proprietary scoring system gives NWL stock a score of 25 out of a possible 100. That score is based on three component scores. A fundamental score of 53, a long-term technical score of 18 and a short-term technical score of 5.
Our proprietary system combines short and long-term technical factors, Wall Street’s opinion, and other fundamental factors into an overall score that measures a stock’s suitability for investment.
Meanwhile, the major indices are climbing. The Dow Jones Industrial Average has gained 0.97% to 25,791.39. The S&P 500 has risen 0.73% to 2,765.82. The NASDAQ is up 0.37% to 7,454.14.