Newell Rubbermaid’s Profit Falls, but Adjusted Net Beats the Street (NWL)

Consumer products maker Newell Rubbermaid Inc. (NWL) on Friday posted second quarter earnings that fell 24% from last year, but its adjusted results rose and bested Wall Street expectations.

The Atlanta-based company reported second quarter net income of $111.8 million, or 38 cents per share, compared with $146.7 million, or 49 cents per share, in the year-ago period. Excluding special items, adjusted profit was 47 cents.

Revenue fell 1.9% from last year to $1.52 billion, hurt by foreign currency impacts.

On average, Wall Street analysts expected a smaller profit of 45 cents per share, on matching revenue of $1.52 billion.

Newell Rubbermaid shares were mostly flat in premarket trading Friday.

The Bottom Line
Shares of Newell Rubbermaid (NWL) have a 2.26% dividend yield, based on last night’s closing stock price of $17.70. The stock has technical support in the $15-$16 price area. If the shares can firm up, we see overhead resistance around the $19-$20 price levels.

Newell Rubbermaid Inc. (NWL) is not recommended at this time, holding a DARS™ Rating of 3.0 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Related Stocks:
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here