Spectrum Brands Holdings Inc (NYSE:SPB) on Friday reported better-than-expected third-quarter financial results.
Spectrum Brands posted third-quarter adjusted EPS of $2.79, beating market estimates of $1.47. The company’s sales came in at $753.300 million, versus estimates of $735.500 million.
“We are pleased with our results this quarter, with all three businesses delivering top-line growth, highlighted by a record-setting quarter in our Home & Garden business. Across both Global Pet Care and Home & Garden, our categories benefited from solid underlying demand, and our key brands continued to outperform the market. In Home & Personal Care, while results remain impacted by soft consumer demand, we are seeing encouraging signs of stabilization in North America, and our key brands in Latin America continue to perform well. Our focus on profitability is reflected in our results, with each segment delivering Adjusted EBITDA growth. Importantly, the strength of our earnings performance was driven by operational execution and business fundamentals, independent of the benefit from IEEPA tariff refunds. These tariff refunds represent a recovery of prior losses which will allow us to invest back into our businesses for overall long term health,” said David Maura, Chairman and Chief Executive Officer of Spectrum Brands.
Spectrum Brands shares fell 3.9% to trade at $86.60 on Monday.
These analysts made changes to their price targets on Spectrum Brands following earnings announcement.
- Canaccord Genuity analyst Brian McNamara maintained the stock with a Buy and raised the price target from $99 to $110.
- RBC Capital analyst Nik Modi downgraded the stock from Outperform to Sector Perform and raised the price target from $85 to $92.
- Wells Fargo analyst Chris Carey maintained the stock with an Equal-Weight rating and raised the price target from $85 to $90.
Considering buying SPB stock? Here’s what analysts think:
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