Newell Rubbermaid Q2 Profit Rises; Reaffirms Full Year Guidance - Quick Facts

(RTTNews) - Newell Rubbermaid (NWL) reported that its second-quarter net income increased to $150.6 million, from $109.8 million, prior year. Reported earnings per share were $0.54 compared to $0.37, prior year. The company said the increased sales, lower restructuring costs, a lower tax rate and the positive impact from a lower share count drove the improvement in net income.

Normalized net income was $165.6 million, or $0.59 per share, for the quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.55 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $1.52 billion, compared to $1.47 billion, prior year. Core sales, which exclude 150 basis points of negative foreign currency impact, grew 4.6 percent. Analysts expected revenue of $1.51 billion for the quarter.

Newell Rubbermaid reaffirmed its full year guidance of: core sales growth of 3 to 4 percent; and normalized EPS of $1.94 to $2.00. Analysts expect the company to report full year earnings per share of $1.98.