Spectrum Brands Stock Price, News & Analysis

Spectrum Brands Holdings (NYSE: SPB) has announced it will release its fiscal 2025 first quarter financial results for the period ended December 29, 2024, before markets open on February 6, 2025. The company will host a live conference call and webcast at 9:00 a.m. Eastern Time, led by Executive Chairman and CEO David Maura and CFO Jeremy Smeltser.

The presentation slides and webcast will be available through the Event Calendar page in the Investor Relations section of Spectrum Brands' website. A replay of the broadcast will be accessible afterward through the same platform.

Spectrum Brands is a home-essentials company that supplies specialty pet supplies, lawn and garden products, pest control items, personal care products, and small household appliances under various trusted brands including Tetra, DreamBone, Spectracide, Remington, and BLACK + DECKER.

Spectrum Brands Holdings (NYSE: SPB) reported strong fiscal 2024 fourth quarter results with net sales increasing 4.5% to $773.7 million and organic net sales growing 4.8%. The company achieved net income of $12.8 million and Adjusted EBITDA of $68.9 million, despite $25.9 million in incremental brand investments. For the full year, net sales grew 1.5% with Adjusted EBITDA of $371.8 million. The company returned $482.7 million to shareholders through share repurchases and increased its quarterly dividend by 12% to $0.47. Looking ahead to fiscal 2025, SPB expects low single-digit net sales growth and mid to high single-digit Adjusted EBITDA growth.

Spectrum Brands Holdings (NYSE: SPB) announced a 12% increase in its quarterly dividend, raising it to $0.47 per share on Common Stock. The new dividend rate represents an annualized dividend yield of 2% based on the current stock price. The dividend will be payable on December 17, 2024, to shareholders of record as of November 26, 2024. Spectrum Brands is a home-essentials company that supplies specialty pet supplies, lawn and garden products, pest control items, personal care products, and small household appliances under various well-known brands.

Spectrum Brands Holdings (NYSE: SPB) has announced it will release its fiscal 2024 fourth quarter financial results on November 15, 2024, before markets open. The company will host a live conference call and webcast at 9:00 a.m. Eastern Time, led by CEO David Maura and CFO Jeremy Smeltser. The presentation will be accessible through the company's website investor relations section, with a replay available afterward.

Spectrum Brands Holdings reported a 6.0% increase in net sales for Q3 FY2024, driven by favorable weather and improved inventory health in the Home & Garden business. Net income from continuing operations reached $19.1 million, with adjusted EBITDA at $106.3 million. Excluding investment income, adjusted EBITDA was $93.6 million. The company improved its capital structure by repaying $1.174 billion in senior unsecured bonds and issuing $350 million in new bonds with a 3.375% coupon.

Key highlights:

• Gross profit increased to $302.8 million, a 14.9% rise.
• Gross profit margin improved by 310 basis points to 38.9%.
• Adjusted EBITDA margins excluding investment income were 12.0%.
• $500 million share repurchase authorization approved; 1.6 million shares repurchased for $142 million in Q3.

For FY2024, Spectrum Brands expects net sales to remain flat but anticipates a 20% growth in adjusted EBITDA, excluding investment income. E-commerce sales grew over 20%, now representing more than 21% of quarterly sales. The company is also pursuing a sale, merger, or spin-off of its Home and Personal Care segment.

Spectrum Brands Holdings (NYSE: SPB) has declared a quarterly dividend of $0.42 per share on its Common Stock. The dividend is payable on September 24, 2024 to shareholders of record as of August 27, 2024. Spectrum Brands is a home-essentials company focusing on delivering innovative products and solutions for use in and around the home through trusted brands. The company is a leading supplier of specialty pet supplies, lawn and garden products, home pest control products, personal care items, and small household appliances. Its portfolio includes well-known brands such as Tetra, DreamBone, Spectracide, Remington, and BLACK + DECKER.

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.

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.

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.