Spectrum Brands Stock Price, News & Analysis

Spectrum Brands (NYSE: SPB) announced its participation in the RBC Capital Markets Global Consumer and Retail Conference on June 2. The presentation, led by Executive Chairman David Maura and CFO Jeremy Smeltser, will start at 10:40 a.m. ET. Investors can access a live webcast on Spectrum Brands' website, with a replay available afterward. The company focuses on innovative consumer products across various categories, including home essentials and personal care. In fiscal 2020, Spectrum Brands generated net sales of approximately $4.0 billion.

Recent CDC research reveals that Lyme disease cases in the U.S. are more frequent than previously estimated, emphasizing the urgency for public education about tick risks. Over the past two decades, reported Lyme disease cases have tripled, with certain tick populations expanding geographically. As tick activity peaks in spring and fall, Spectrum Brands Home & Garden, through its Cutter® brand, has launched educational initiatives during Tick Awareness Week. The company's products, including Cutter® Backwoods® Tick Defense®, are designed to offer effective protection against tick bites.

Spectrum Brands Holdings (NYSE: SPB) reported strong financial results for Q2 FY2021, with net sales growth of 23%, totaling $1.15 billion. Net income from continuing operations rose by $96 million, while adjusted EBITDA increased by 29% to $181 million. The company's liquidity stands at over $860 million with net leverage of 3.2 times. They anticipate mid-teens growth in net sales and adjusted EBITDA, with expected adjusted free cash flow of $260 million to $280 million for the fiscal year.

Spectrum Brands Holdings, Inc. (NYSE: SPB) has declared a quarterly dividend of $0.42 per share on its common stock. This dividend will be paid on June 10, 2021 to stockholders of record as of the close of business on May 20, 2021.

As a leading home-essentials company, Spectrum Brands focuses on delivering innovative products, with fiscal 2020 net sales reaching approximately $4.0 billion. The company offers a broad portfolio of trusted brands across various household categories.

Spectrum Brands Holdings (NYSE: SPB) announced its acquisition of For Life Products, LLC, the maker of Rejuvenate cleaning products, for approximately $300 million. This acquisition aims to strengthen Spectrum's position in the household cleaning market, capitalizing on Rejuvenate's growth. The company anticipates significant revenue and manufacturing synergies, enhancing its product offerings and market penetration. The transaction is set to close in the first half of 2021, pending regulatory review. This strategic move aligns with Spectrum's focus on expanding its portfolio of essential home products.

Spectrum Brands Holdings (NYSE: SPB) announced it will release its fiscal 2021 second quarter financial results on May 7, 2021, prior to market opening. A conference call will follow at 9:00 a.m. ET, hosted by key executives including CEO David Maura and CFO Jeremy Smeltser. Participants can join via phone or access a live webcast on the company’s website. A replay of the call will be available through May 21, 2021. Spectrum Brands is a prominent global supplier of household and personal care products, with a diverse brand portfolio.

Spectrum Brands Holdings (NYSE: SPB) announced the final results of its tender offers for its 6.125% Senior Notes due 2024 and 5.750% Senior Notes due 2025. The 2024 Notes Tender Offer saw $165.5 million validly tendered, with all remaining Notes scheduled for redemption on March 16, 2021. The 2025 Notes Tender Offer was oversubscribed, resulting in the purchase of $550.03 million of 2025 Notes. This press release is not a notice of redemption or an offer to sell securities.

Spectrum Brands Holdings (SPB) announced early results for its tender offers to buy back senior notes. For the 6.125% Senior Notes due 2024, approximately 66.21% of the total were validly tendered by the March 1, 2021 deadline. The amendments will allow for reduced notice periods for redemption and the elimination of many covenants. In the oversubscribed 5.750% Senior Notes due 2025 offer, 58.48% were tendered, leading to a prorated acceptance of $550 million. Final deadlines for both offers remain set for March 15, 2021.

Spectrum Brands Holdings (NYSE: SPB) announced its participation in the Raymond James Institutional Investors Conference on March 3. The presentation will be led by Chairman and CEO David Maura and CFO Jeremy Smeltser at 11:40 a.m. ET. Interested parties can access a live webcast of the presentation via the company’s website, with a replay also available afterward. Spectrum Brands, a member of the Russell 1000 Index, offers a diverse range of consumer products, including home essentials and personal care items, through well-known brands like Kwikset, George Foreman, and IAMS.