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. reports recurring developments as a global branded consumer products and home-essentials company. Its updates center on operating results, organic sales trends, adjusted EBITDA, leverage, common stock dividends and management commentary across Global Pet Care, Home & Garden, and Home & Personal Care.
The company supplies specialty pet products, aquatics and companion-animal brands, lawn and garden and home pest control products, personal insect repellents, shaving and grooming products, personal care items and small household appliances. News also covers brand and channel performance, regional demand trends, distribution, retailer ordering patterns and business initiatives tied to names such as Tetra, DreamBone, Nature’s Miracle, Spectracide, Cutter, Repel, Remington, George Foreman, Russell Hobbs, BLACK + DECKER, PowerXL and Copper Chef.
Spectrum Brands Holdings (NYSE: SPB) reported strong results for Q4 and fiscal 2020, with net sales increasing by 17.9% to $1.17 billion. The company experienced growth across all business units, driven by elevated demand and effective marketing strategies. Despite a $17 million increase in corporate expenses due to changes in the incentive compensation program, adjusted EBITDA grew 6.3% to $173.3 million. For fiscal 2021, Spectrum Brands expects 3-5% net sales growth and aims for adjusted free cash flow between $250 million and $270 million.
Spectrum Brands Holdings, Inc. (NYSE: SPB) declared a quarterly dividend of $0.42 per share on its common stock. This dividend will be paid on December 15, 2020, to stockholders of record as of the close of business on November 23, 2020. With its diverse portfolio, including brands like Kwikset, George Foreman, and Tetra, Spectrum Brands continues to establish itself as a leader in various household product categories.
Spectrum Brands (NYSE: SPB) announced the acquisition of Armitage Pet Care Ltd., a U.K. leader in pet treats and toys, for approximately $180 million. Armitage generated over $80 million in net sales in the past year. This acquisition aims to expand Spectrum's Global Pet Care business, leveraging Armitage's 17% annual sales growth and enhancing its e-commerce presence. The integration is expected to enhance market reach in the U.K. and continental Europe, adding brands like Good Boy® and Wafcol® to Spectrum's portfolio.
Spectrum Brands Holdings (NYSE: SPB) announced it will release its fiscal 2020 fourth quarter and full year financial results on November 13, 2020, before market open. A live conference call will take place at 9:00 a.m. ET, featuring key executives including David Maura, CEO. Participants can access the call via U.S. number 877-604-7329 or international number 602-563-8688, using ID 3218924. The company, a member of the Russell 1000 Index, offers a diverse portfolio of consumer products, including well-known brands such as Kwikset and George Foreman.
Spectrum Brands Holdings (NYSE: SPB) has appointed Gautam Patel and Anne S. Ward as independent directors to its Board of Directors. Their extensive backgrounds in investments and consumer products are expected to enhance the Board's skill set. Patel has vast experience in mergers and acquisitions, while Ward brings expertise from leading CURiO Brands. The appointments align with Spectrum's commitment to corporate governance and diversity, aiming to reflect shareholder dialogue and improve Board capabilities.