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Spectrum Brands Holdings Inc.
SPB, + 1.33%
posted a fourth-quarter profit and business figure not meeting expectations and emerging a poor outlook for fiscal 2019. The shares of the consumer products company, including Black and Decker, Pfister and George Foreman, were still inactive before marketing. Net loss for the quarter ended September 30th increased to $ 115.8 million, or $ 2.31 per share, compared to $ 26.2 million or 81 cents per share for the same period prior year, primarily due to lower goodwill, lower merger costs, lower earnings and higher distribution costs. Excluding non-recurring items, adjusted earnings per share amounted to 79 cents, well below the FactSet consensus of $ 1.08. Revenues remained unchanged at $ 787.8 million, in contrast to FactSet's consensus of $ 801.0 million, lower sales of home and garden products and animal products offset the growth in equipment and home improvements. For fiscal year 2019, the company expects "significant" growth from continuing operations and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $ 560 to $ 580 million. The FactSet consensus on Adjusted EBITDA was $ 635.8 million. The stock has fallen 34% in the last three months, while the S & P 500
SPX, + 0.22%
lost 4%.
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