Newell Rubbermaid Q2 Profit Declines; Lifts Full Year EPS View - Quick Facts

(RTTNews) - Consumer and commercial products company Newell Rubbermaid (NWL) Friday said its second-quarter net income declined to $148.5 million from $150.6 million in the prior year. Earnings per share were $0.55, up from $0.54 in the year-ago period.

Normalized earnings per share were $0.64, versus $0.59 in the prior year. On average, 15 analysts polled by Thomson Reuters expected earnings of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales rose to $1.56 billion from $1.50 billion in the prior year. Analysts expected revenues of $1.54 billion.

Core sales grew 5.1 percent, excluding a 480 basis point net contribution from acquisitions and planned divestitures and a 600 basis point negative impact from foreign currency.

Further, Newell Rubbermaid now expects its 2015 full year normalized earnings per share to be in the range of $2.14 to $2.20 and core sales growth of 4.0 to 5.0 percent. Analysts look for earnings of $2.16 per share for the year.

Earlier, the company expected normalized earnings per share of $2.10 to $2.18 and core sales growth of 3.5 to 4.5 percent.

The company now expects foreign exchange to have a negative impact of about $0.36 to $0.39 per share on normalized earnings per share in 2015, driven by the stronger U.S. dollar to most currencies.