Newell Brands shares soared in pre-market trading on Friday after they issued a major earnings beat and reiterated strong forward-looking guidance.
Newell Brands Inc (NWL) is best known for its brands “Mr. Coffee” and “Rubbermaid” smashed profit estimates for second quarter and also raised sales guidance.
Newell Brands reported net income of $89.9 million ($.21/share) which was down from $131.7 million from a year earlier, however, the company raised it’s full-year sales guidance to $9.1 billion – $9.3 billion from a prior guidance of $8.2 billion.
Newell also indicated that it will retain the Rubbermaid Commercial Products business which was previously included in their “discontinued operations” section of the business.
Newell also indeicated that it will re-locate its corporate headquarters to Atlanga, GA in order to consolidate operations. Three of the company’s operating divisions are already located in Atlanta.