Newell Brands slump after Q1 loss forecast

Newell Brands

07/02/2025 15:02

(Updates)
        ** Shares of Sharpie maker Newell Brands  NWL.O  plunge
23.7% to $7.41 in early trading
  
        ** Stock set for its worst day since October 2017, if
losses hold
  
    ** NWL expects Q1 loss on increased promotional costs, and
greater-than-expected decline in annual sales due to tepid
demand
    ** Sees Q1 loss between 6 cents and 9 cents per share vs
estimates of profit of 3 cents per share - LSEG-compiled data
    ** Expects Q1 net sales to be down 5% to 8% vs estimates of
a drop of 3.4% 
    ** Forecasts FY25 net sales to decline in the range of 2% to
4% vs analysts' estimates of 0.7% decline
    ** Co says it is working to reduce dependence on suppliers
in China as it looks to reduce hit from tariffs
    ** NWL rose about 15% in 2024

 (Reporting by Anuja Bharat Mistry and Neil J Kanatt in
Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))