Tha Newell Brands Inc. sharing NWL,
slipping 1.5% in pre-retail trading on Friday, after parent brands including Sharpie, Papermate and Rubbermaid beat earnings forecasts for the fourth quarter but offered guidance that consensus weakening. The company posted net revenues of $ 127 million, or 30 cents a share, for the quarter, down from $ 794 million, or $ 1.87 a share, in the prior year period. Adjusted earnings per share amounted to 56 cents, ahead of the FactSet consensus of 48 cents. Sales rose 2.5% to $ 2.689 billion from $ 2.624 billion, also ahead of the FactSet consensus of $ 2.615 billion. CEO Ravi Saligram said growth in food, trade and industrial appliances and cookware industry tools is offset by soft writing caused by consumers staying at home due to coronavirus pandemic . The company now expects 2021 modified EPS to range from $ 1.55 to $ 1.65, which is lower than the FactSet consensus of $ 1.70. Shares have gained 32% in the last 12 months, and the S&P 500 SPX,
has gained 16%.