Newell Brands set for best day in over four years on Q1 revenue beat

Newell Brands

26/04/2024 15:19

** Newell Brands shares  NWL.O  rise 14.2% to $7.90 and is
set for its best day in over four years after consumer goods
firm beats Q1 revenue expectations 
    ** Co reports Q1 sales of $1,653 mln, surpassing analysts'
expectations of $1,644 mln - LSEG data
    ** NWL also reports first Q1 positive operating cashflow of
$32 mln since Q1 2020
    ** CFO Mark Erceg says, "working capital reduction, together
with operating income growth, resulted in positive operating
cash flow during the first quarter which, historically, has been
very hard to achieve due to the seasonality of the business"
    ** NWL however missed profit expectations for Q1 - LSEG data
    ** Up to last close, stock had fallen 9.7% YTD 

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))