The Outdoor & Recreation segment of Newell Brands, Inc., which includes the Marmot, Ex Officio, Stearns, Bubba, Coleman, and Contigo brands, among others, reported net sales of $234 million in the second quarter, down from $258 million in the prior year period. The core sales decline of 10.9 percent notably more than offset the positive impact of favorable foreign exchange.

Segment operating income for the quarter was $8 million, or 3.4 percent of sales, compared with an operating loss of $11 million, or negative 4.3 percent of sales, in the prior-year Q2 period.

Normalized operating income was $13 million, or 5.6 percent of sales, compared with an operating loss of $1 million, or negative 0.4 percent of sales, in the prior-year Q2 period.

Newell Brands, Inc.
For the parent company, consolidated net sales were $1.9 billion for the quarter, a 4.8 percent decline compared with the prior-year period, reflecting a core sales decline of 4.4 percent, as well as unfavorable foreign exchange and business exits.

Newell Brands’ net income was $46 million, or 11 cents per diluted share, in Q2, compared with $45 million, or 11 cents per diluted share, in the prior-year Q2 period. Normalized* net income was $101 million, or 24 cents per diluted share, in Q2, compared with $148 million, or 35 cents per diluted share, in the prior-year Q2 period.

Normalized* EBITDA was $280 million compared with $282 million in the prior year period.


*Normalized figures are adjusted for restructuring and restructuring-related costs, amortization expense and impairments of acquired intangible assets, Argentina hyper-inflationary currency movements, gains or losses on divestitures and transaction costs, other adjustments, and normalized income tax adjustments.

Image courtesy Marmot