Spectrum Brands' Stock Falls as Remington Parent's Earnings Miss Estimates
Spectrum Brands shares fell Friday, after the maker of George Foreman Grills and parent of Remington posted adjusted earnings and an outlook that missed analysts’ estimates.
Spectrum Brands shares fell Friday, after the maker of George Foreman Grills and parent of Remington posted adjusted earnings and an outlook that missed analysts’ estimates.
Spectrum Brands Holdings, Inc. (NYSE:SPB) shares are trading lower on Friday. The company reported fourth-quarter adjusted earnings per share of 97 cents, missing the street view of $1.07. Quarterly revenues were $773.7 million (+4.5%), beating the analyst consensus of $747.51 million. Gross profit surged 17.8% to $288 million. Gross profit and margin increased due to productivity improvements, operational efficiencies, and inventory actions in the prior year, partially offset by ocean freight i
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