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 Dividend.com DARS™ Rating of 3.0 out of 5 stars.