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Spectrum Brands Holdings Fiscal Q1 Adjusted EPS, Revenue Rise; Raises Fiscal 2021 Revenue Guidance

· 02/05/2021 02:11

06:59 AM EST, 02/05/2021 (MT Newswires) -- Spectrum Brands Holdings (SPB) reported Friday Q1 adjusted earnings of $2.13 per share compared with $0.20 per share a year ago. Analysts polled by Capital IQ expected $0.77 per share.

A consumer products and home essentials company said the sales were $1.145 billion for the quarter ended Jan. 3, compared with $871.5 million a year ago and above the Sreet view of $1 billion.

In its outlook for fiscal 2021 the company said it expects "high single-digit reported net sales growth," up from previous revenue growth guidance of 3% to 5%.

Fiscal 2021 adjusted EBITDA is also expected to increase high single-digits, from the previous outlook of mid-single-digits.

"Adjusted free cash flow is expected to be between $250 million and $270 million, with strategic investments in inventory levels," the company said.

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