Spectrum Brands (SPB) Misses Q1 EPS by 3c

Spectrum Brands (NYSE: SPB) reported Q1 EPS of ($0.32), $0.03 worse than the analyst estimate of ($0.29). Revenue for the quarter came in at $713.3 million versus the consensus estimate of $754.41 million.

GUIDANCE:

Spectrum Brands now expects flat reported net sales in Fiscal 2023, with foreign exchange expected to have a negative impact based upon current rates. Fiscal 2023 adjusted EBITDA is still expected to increase by low double-digits.

From a capital structure perspective, the Company is targeting a long-term net leverage ratio of 2.0 - 2.5 times after full deployment of HHI sale proceeds.

For earnings history and earnings-related data on Spectrum Brands (SPB) click here.

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