Spectrum Brands Stock Price, News & Analysis

Spectrum Brands reported a 6.2% increase in net sales to $807.8 million for Q2 FY2022, with organic sales growth of 2.0%. However, the company experienced a net loss from continuing operations of $25.1 million, a significant increase from a loss of $4.6 million year-over-year. Adjusted EBITDA fell 26.5% to $79.0 million, impacted by inflation and restructuring costs. The company updated its 2022 guidance, projecting net sales growth in the mid-to-high teens and mid single-digit growth in adjusted EBITDA, incorporating the Tristar acquisition and inflationary pressures.

Spectrum Brands Holdings, Inc. (NYSE: SPB) declared a quarterly dividend of $0.42 per share on its Common Stock, payable on June 9, 2022, to stockholders of record as of May 19, 2022. This reflects the company's ongoing commitment to returning value to its shareholders. Spectrum Brands is recognized as a leading home-essentials provider with a diverse portfolio of brands catering to pet supplies, lawn and garden, personal care, and household appliances.

Spectrum Brands Holdings (NYSE: SPB) will release its fiscal 2022 Q2 financial results on May 6, 2022. The announcement follows the period ending April 3, 2022. A live conference call will be held at 9:00 a.m. ET, featuring key executives including David Maura and Jeremy Smeltser. To access the call, U.S. participants can dial 877-604-7329, while international callers should use (+1) 602-563-8688, referencing ID 7792418. A replay will be available until May 20.

Spectrum Brands Holdings (NYSE: SPB) has completed its acquisition of the kitchen appliances and cookware divisions of Tristar Products. This strategic move is expected to bolster Spectrum's Home and Personal Care (HPC) segment, enhancing its portfolio and market presence. David Maura, CEO of Spectrum Brands, expressed enthusiasm about the integration of Tristar's business and its potential for innovation and growth. The deal's financial advisors included Credit Suisse, RBC Capital Markets, and Canaccord Genuity, while legal counsel was provided by Sidley Austin LLP and Davis Polk & Wardwell LLP.

Spectrum Brands reported a 2.9% increase in net sales for the first quarter of fiscal 2022, totaling $757.2 million, driven by organic growth. However, income from continuing operations fell to a $30.2 million loss, largely due to supply chain disruptions and inflationary pressures. Adjusted EBITDA decreased 53.4% to $49.3 million. The company anticipates an additional $310-$330 million in inflation, impacting margins. Despite these challenges, Spectrum Brands maintains its 2022 earnings guidance of mid-to-high single-digit net sales growth.

Spectrum Brands announced the acquisition of Tristar Products for $325 million in cash, with potential additional payments up to $125 million based on gross profit targets. This move aims to strengthen Spectrum's position in the fast-growing home appliances market, particularly in air fryers, grills, and cookware, which generated net sales of $546 million in the past year. The integration is expected to yield $20-30 million in synergies. A separation of the combined unit into its own entity is planned for later this year.

Spectrum Brands Holdings, Inc. (NYSE: SPB) has declared a quarterly dividend of $0.42 per share on its Common Stock. This dividend is payable on March 15, 2022, to stockholders of record by the close of business on February 22, 2022. Spectrum Brands is renowned for its diverse range of household products, including brands such as Remington®, George Foreman®, and Tetra®. The company aims to enhance everyday living through innovative solutions and trusted brands.

Spectrum Brands Holdings (NYSE: SPB) will release its fiscal 2022 Q1 financial results on February 4, 2022, before market opening. The results will cover the period ending December 31, 2021. A live conference call will follow at 9:00 a.m. ET, featuring executives David Maura (CEO), Jeremy Smeltser (CFO), and Randy Lewis (COO). Participants can access the call via U.S. and international numbers provided. Replay options will be available until February 18, 2022. For more details, visit Spectrum Brands’ website.

Spectrum Brands Holdings (NYSE: SPB) announced its participation in the CJS Securities 22nd Annual New Ideas for the New Year Conference on January 12. The presentation will be delivered by Jeremy Smeltser, Executive Vice President and CFO, at 1:35 PM Eastern Time. A live webcast of the presentation will be available on the company's website www.spectrumbrands.com, and a replay will be accessible post-event. Spectrum Brands is a leading home essentials company with a focus on innovative consumer products.