Newell Rubbermaid Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Reaffirms Earnings Guidance for the Fiscal 2016
January 29, 2016 at 06:30 am
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Newell Rubbermaid Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported net sales of $1,560.8 million against $1,526.0 million a year ago. Operating income was $101.9 million against $113.5 million a year ago. Loss before income taxes was $92.8 million against profit of $59.7 million a year ago. Net income was $13.2 million against $52.0 million a year ago. Diluted earnings per share were $0.05 against $0.19 a year ago. Net loss from continuing operations was $79.7 million against profit of $49.3 million a year ago. Diluted loss per share from continuing operations was $0.30 against profit of $0.18 a year ago. Non-GAAP operating income was $214.2 million against $204.6 million a year ago. Non-GAAP income before income taxes was $196.7 million against profit of $184.0 million a year ago. Non-GAAP net income was $161.1 million against $135.3 million a year ago. Non-GAAP diluted earnings per share were $0.56 against $0.49 a year ago. Non-GAAP net income from continuing operations was $161.1 million against profit of $135.3 million a year ago.
For the year, the company reported net sales of $5,915.7 million against $5,727.0 million a year ago. Operating income was $601.4 million against $604.7 million a year ago. Income before income taxes was $337.5 million against profit of $462.1 million a year ago. Net income was $350 million against $377.8 million a year ago. Diluted earnings per share were $1.29 against $1.35 a year ago. Net income from continuing operations was $259.3 million against profit of $373.0 million a year ago. Diluted income per share from continuing operations was $0.96 against profit of $1.34 a year ago. Net cash provided by operating activities was $565.8 million against $634.1 million a year ago. Capital expenditures was $211.4 million against $161.9 million a year ago. Non-GAAP operating income was $848.6 million against $792.6 million a year ago. Non-GAAP income before income taxes was $771.1 million against profit of $728.8 million a year ago. Non-GAAP net income was $590.7 million against $557.8 million a year ago. Non-GAAP diluted earnings per share were $2.18 against $2.00 a year ago. Non-GAAP net income from continuing operations was $590.7 million against profit of $557.8 million a year ago.
For the fiscal 2016, the company reaffirmed core sales growth and normalized EPS guidance metrics excluding Venezuelan operations. Core sales growth of 4.0% to 5.0%, normalized EPS of $2.21 to $2.30 and diluted EPS of $1.81 to $1.90. The company now expects foreign currency to have a negative impact of about $0.26 to $0.28 per diluted share on 2016 normalized EPS driven by the stronger U.S. dollar to most currencies. The 2016 normalized EPS guidance represents strong double-digit earnings growth on a currency neutral basis. The 2016 normalized EPS guidance range excludes between $140 and $160 million of Project Renewal restructuring and other Project Renewal transformation costs.
Newell Brands Inc. is a global consumer goods company. The Company operates in three segments: Home and Commercial Solutions, Learning and Development, and Outdoor and Recreation. The products offered under Home and Commercial Solutions segment includes commercial cleaning and maintenance solutions; closet and garage organization; hygiene systems and material handling solutions; household products, including kitchen appliances; food and home storage products; vacuum sealing products; gourmet cookware, bakeware and cutlery and home fragrance products. The Learning and Development segment offers products in baby gear and infant care products; writing instruments, including markers and highlighters, pens and pencils; art products; activity-based products and labeling solutions. The Outdoor and Recreation segment offers products for outdoor and outdoor-related activities. Its brands include Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Yankee Candle, and Paper Mate, among others.
Newell Rubbermaid Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015; Reaffirms Earnings Guidance for the Fiscal 2016