MIDDLETON, WIS. — Spectrum Brands Holdings said its earnings fell 45% on higher expenses stemming from the consumer-products company’s recent acquisitions and other one-time items during the fourth quarter. At the same time, the company reported a sales leap of 11%, although its revenue and adjusted profits failed to meet Wall Street expectations. Overall for the fourth quarter, Spectrum Brands reported a profit of $26.6 million, or 44 cents a share, down from $48.1 million, or 90 cents a share, a year earlier. Excluding certain items like acquisitions costs, earnings were an adjusted $1.13 per share up from 98 cents. Revenue increased nearly 11% to $1.31 billion. Excluding currency fluctuations and acquisitions, organic sales grew 2.2%. Analysts polled by Thomson Reuters expected adjusted per-share profit of $1.16 and revenue of $1.33 billion.
Sales up, profits fall for Spectrum
Most Recent
Most Read
Consumer boycott of Loblaw Companies begins
Fri, May 03rd, 2024
Pont-Masson ad evokes a classic movie
Fri, May 03rd, 2024
Featured Classified: Taiga
Fri, May 03rd, 2024
Canfor announces earnings, acquisition
Thu, May 02nd, 2024
Two more retailers to showcase Quebec-made products
Thu, May 02nd, 2024
Throwback Thursday: “Canadians are ready to start spending again,” we reported ten years ago
Thu, May 02nd, 2024
RONA stores raise money in May to support communities
Thu, May 02nd, 2024
AD Canada garners recognition as great place to work
Thu, May 02nd, 2024
AQMAT unveils its “Family Portrait” of the industry in Quebec
Wed, May 01st, 2024
Is the honeymoon ending for self-checkout?
Wed, May 01st, 2024