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Spectrum Brands Holdings, Inc. - SPB STOCK NEWS

Welcome to our dedicated page for Spectrum Brands Holdings news (Ticker: SPB), a resource for investors and traders seeking the latest updates and insights on Spectrum Brands Holdings stock.

Spectrum Brands Holdings, Inc. (symbol: SPB) is a prominent global consumer products company, renowned for its extensive range of market-leading and trusted brands. As a member of the Russell 2000 Index, Spectrum Brands engages in supplying a diverse array of consumer essentials, ensuring they meet the needs of households worldwide.

The company’s core business encompasses the supply of consumer batteries, residential locksets, residential builders’ hardware, plumbing and accessories, shaving and grooming products, personal care items, small household appliances, specialty pet supplies, lawn and garden products, home pest control solutions, personal insect repellents, and auto care goods. With this wide portfolio, Spectrum Brands stands as a critical player in various consumer markets.

Spectrum Brands manages its operations through three key segments: Home and Personal Care, Global Pet Care, and Home and Garden. Its products are manufactured, marketed, and distributed across multiple regions including North America, Europe, the Middle East & Africa, Latin America, and Asia-Pacific.

Among its well-known brands are Rayovac®, Varta®, Kwikset®, Weiser®, Baldwin®, National Hardware®, Pfister™, Remington®, George Foreman®, Black + Decker®, Farberware®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, Furminator®, IAMS®, Eukanuba®, Digest-eeze™, Healthy-Hide®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot®, Black Flag®, Liquid Fence®, Armor All®, STP®, and A/C Pro®.

Recent achievements by Spectrum Brands include the launch of innovative products and strategic partnerships aimed at enhancing their market presence and meeting evolving consumer demands. Financially, Spectrum Brands continues to demonstrate resilience and growth potential, fueled by its diversified product offerings and global footprint.

Latest News: Spectrum Brands Holdings, Inc. continues to be in the spotlight with its latest developments and performance updates. Stay informed on the latest news to keep abreast of the company's progress and significant milestones.

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Spectrum Brands Holdings (NYSE: SPB) has announced it will release its fiscal 2024 third quarter financial results on August 8, 2024, before the markets open. The company will conduct a live conference call and webcast at 9:00 a.m. Eastern Time on the same day. The event will be hosted by David Maura, Executive Chairman and CEO, and Jeremy Smeltser, Executive VP and CFO.

Investors can access the webcast and presentation slides through the Event Calendar page in the Investor Relations section of Spectrum Brands' website. A replay of the broadcast will be available after the call. Spectrum Brands is a home-essentials company focusing on delivering innovative products for use in and around the home through trusted brands.

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Spectrum Brands Holdings (NYSE: SPB) has filed a confidential Form 10 registration statement with the SEC for the spin-off of its Home & Personal Care (HPC) business. The filing signifies a significant step in separating HPC from its other businesses, potentially through a spin-off, sale, or merger. Spectrum Brands emphasizes that the filing does not obligate them to complete the spin-off or any other transaction. The company is known for its broad portfolio of trusted brands in pet supplies, lawn and garden products, pest control, personal care, and small household appliances.

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Spectrum Brands Holdings (NYSE: SPB) has announced the pricing terms and accepted tender amounts for its tender offer and consent solicitation. The offer involves purchasing up to $1,160.5 million in aggregate principal of its 2026, 2029, 2030, and 2031 Senior Notes. The early tender deadline was June 3, 2024, with an expected early settlement date of June 17, 2024, for the 2026 Notes and June 18, 2024, for the other notes. Spectrum Brands will use cash on hand and possibly borrowings to fund the purchase. The final settlement date is anticipated to be June 21, 2024.

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Spectrum Brands Holdings announced the early results of its tender offer and consent solicitation for its senior notes. The offer, originally set at a maximum of $925 million, has been increased to $1,160.5 million. As of June 3, 2024, significant percentages of the notes due in 2026, 2029, 2030, and 2031 have been tendered, with acceptance priority levels assigned. The early tender settlement dates are June 17, 2024, for the 2026 notes, and June 18, 2024, for the rest. Spectrum Brands plans to fund the offer using cash on hand and possibly loans. The tender offer and consent solicitation are set to expire on June 18, 2024. Holders who tender notes after the early deadline will not have their notes accepted. The company retains the right to amend or terminate the offer at its discretion.

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Spectrum Brands Holdings announced a private offering of $300 million in aggregate principal amount of 3.375% exchangeable senior notes due 2029. The company plans to use the net proceeds for capped call transactions, share repurchases, and general corporate purposes. The offering, expected to close on May 23, 2024, should result in $291.6 million in net proceeds. The exchange rate stands at 8.2060 shares per $1,000 principal amount, with an initial exchange price of $121.86 per share, a 30% premium over the last reported sale price. The notes mature on June 1, 2029, and carry a semi-annual interest payable on June 1 and December 1.

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Spectrum Brands Holdings announced a $300 million offering of exchangeable senior notes due 2029 and a share repurchase plan. The proceeds will fund capped call transactions, repurchase up to $100 million of common stock, and support general corporate purposes. Additionally, the company may issue up to $50 million in extra notes if demand exceeds the initial offering. The notes, accruing semi-annual interest, can be exchanged under specific conditions and will mature on June 1, 2029. A new $500 million share repurchase authorization replaces an $80 million program. The repurchases aim to stabilize or increase stock prices. The capped call transactions are designed to mitigate dilution upon note exchange.

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Spectrum Brands Holdings announced a cash tender offer and consent solicitation for its outstanding senior notes. The offer involves 4.00% Senior Notes due 2026, 5.00% Senior Notes due 2029, 5.50% Senior Notes due 2030, and 3.875% Senior Notes due 2031, with a combined purchase price up to $925 million. The Early Tender Time is June 3, 2024, and the Expiration Time is June 18, 2024. The company also seeks consents for proposed amendments to the indentures governing the 2026, 2029, and 2030 Notes. These amendments would shorten redemption notice periods and eliminate restrictive covenants. The Tender Offer and Consent Solicitation may be adjusted, extended, or terminated at Spectrum Brands' discretion. RBC Capital Markets, J.P. Morgan Securities, and UBS Securities are managing the offer.

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Spectrum Brands Holdings reported a decrease in net sales by 1.5% due to lower consumer demand in home appliances and aquatics in North America. However, net income and Adjusted EBITDA improved significantly. The company repurchased shares worth $98 million and entered into a new long-term license agreement with Black & Decker. They updated their fiscal 2024 earnings framework, expecting flat net sales and low double-digit growth in Adjusted EBITDA. Spectrum Brands also announced plans to pursue strategic alternatives for their Home and Personal Care business.

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Spectrum Brands Holdings, Inc. (NYSE: SPB) declared a quarterly dividend of $0.42 per share on Common Stock payable on June 18, 2024. The company aims to make living better at home through its innovative products and solutions under various trusted brands.

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Spectrum Brands Holdings, Inc. will report its fiscal 2024 second quarter financial results on May 9, 2024. The company will host a conference call and webcast featuring Executive Chairman and CEO David Maura and CFO Jeremy Smeltser.
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FAQ

What does Spectrum Brands Holdings, Inc. do?

Spectrum Brands Holdings, Inc. is a global consumer products company offering a broad range of essential products including consumer batteries, locksets, grooming items, pet supplies, and more.

Which segments does Spectrum Brands manage its businesses through?

Spectrum Brands manages its businesses through three key segments: Home and Personal Care, Global Pet Care, and Home and Garden.

Where are Spectrum Brands' products available?

Spectrum Brands' products are available globally, including in North America, Europe, the Middle East & Africa, Latin America, and Asia-Pacific.

Can you name some of the well-known brands under Spectrum Brands Holdings, Inc.?

Some well-known brands under Spectrum Brands include Rayovac®, Varta®, Kwikset®, Weiser®, Baldwin®, Pfister™, Remington®, George Foreman®, Black + Decker®, and more.

Is Spectrum Brands part of any major stock index?

Yes, Spectrum Brands is a member of the Russell 2000 Index.

How does Spectrum Brands ensure it meets consumer needs?

Spectrum Brands offers a broad portfolio of trusted and well-known brands, continuously innovates its product range, and maintains a strong global distribution network.

What recent achievements has Spectrum Brands made?

Recent achievements by Spectrum Brands include launching innovative products and forming strategic partnerships to enhance market presence.

What is the financial condition of Spectrum Brands?

Spectrum Brands has demonstrated resilience and growth potential through its diversified product offerings and extensive global footprint.

How can I stay updated on the latest news from Spectrum Brands?

You can stay updated on the latest news by following Spectrum Brands' official announcements and checking platforms like StockTitan for the latest updates.

What makes Spectrum Brands significant in the consumer market?

Spectrum Brands' significance lies in its wide range of essential consumer products, trusted brands, and its ability to meet diverse consumer needs globally.

Spectrum Brands Holdings, Inc.

NYSE:SPB

SPB Rankings

SPB Stock Data

2.37B
28.03M
3.36%
100.28%
4.84%
Direct Life Insurance Carriers
Finance and Insurance
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United States of America
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