Newell Brands Shares Plunge 8% Following Q3 Report
<p><a href='https://financialmodelingprep.com/financial-summary/NWL'>Newell Brands (NASDAQ:NWL)</a> shares dropped more than 8% on Monday following the company’s reported Q3 results. While both EPS of $0.53 and revenue of $2.3 billion came in better than the Street estimates of $0.47 and $2.25 billion, respectively, the guidance was weak.</p>
<p>For Q4/22, the company expects EPS to be in the range of $0.09-$0.14, compared to the Street estimate of $0.21, and revenue in the range of $2.18-2.26 billion, compared to the Street estimate of $2.25 billion. Management also provided bearish forward commentary for 2023 including that they are modeling assumptions of a recessionary environment next year.</p>
<p>Analysts at RBC Capital expect the stock to remain pressured until there is more tangible evidence that retailers are done inventory right-sizing and there is greater visibility into their order patterns. The analysts lowered their price target to $18 from $20 while maintaining their Sector Perform rating.</p>

NASDAQ:NWL