(Photo Illustration by Pavlo Gonchar/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images Deal Overview On July 2, 2024, Spectrum Brands Holdings Inc. (NYSE: SPB, $85.00; Market Capitalization: $2.5 billion) announced a plan to spin-off its Home & Personal care ("HPC") business. After separation, Spectrum (Stub Co.) will continue focusing on its pure-play Pet, and Home & Garden businesses, which include renowned brands such as Tetra, FURminator, DreamBone, Garden Safe, EcoLogic ...

Recent developments Priority ldertifiers Notes Amount Security Treasury Yield In most cases when this kind of thing occurs, it is done with new debt that is issued. That would be a problem in this environment because of how high interest rates currently are. However, as of the end of the second quarter of this year, the company had cash and cash equivalents on its books of nearly $1.25 billion. I think one could argue that investing this capital elsewhere may have generated stronger returns. But for better ...

Driven by such upsides, the stock has gained 20.4% in the past year, outperforming the industry's 0.3% growth. Analysts seem quite optimistic about this Zacks Rank #3 (Hold) company. The Zacks Consensus Estimate for fiscal 2024 sales and earnings per share (EPS) is pegged at $2.92 billion and $4.68, respectively, indicating year-over-year growth of 0.1% and 205.9%. Delving Deeper Spectrum Brands' initiatives like pricing, cost improvements and a favorable mix have been driving margins for a while now. The c ...

Driven by improved pricing and cost improvements, the gross margin expanded 870 bps to 38.1% in secondquarter fiscal 2024, whereas gross profit improved 27.5% year over year. Adjusted EBITDA advanced 120.2% year over year to $112.3 million in the fiscal second quarter. The adjusted EBITDA margin expanded 860 bps year over year to 15.6%, driven by better gross margins and lower operating expenses. The Zacks Consensus Estimate for Lifetime Brands' current financial year's sales and earnings per share suggests ...

Spectrum Brands Holdings Inc. (SPB) is benefiting from increased pricing, cost improvements and a favorable mix. The company is progressing well with its Global Productivity Improvement Plan, which aims at improving operating efficiency and effectiveness. In the latest developments, the company unveiled that its fully-owned subsidiary, Spectrum Brands, Inc., offered $300 million in total principal amount of its 3.375% exchangeable senior notes due 2029 in a private placement to eligible purchasers under Rul ...

Spectry 2 • CEO Overview – David Maura Chairman and Chief Executive Officer Forward-looking Statements Since these forward-looking statements are based upon our current expectations of future events and projections and are subject to a number of risks and uncertainties, many of which are beyond our control and some of which may change rapidly, actual results or outcomes may differ materially from those expressed or implied herein, and you should not place undue reliance on these statements. Important factor ...

Spectrum Brands Holdings, Inc. (NYSE:SPB) Q2 2024 Earnings Conference Call May 9, 2024 9:00 AM ET Company Participants Joanne Chomiak – Senior Vice President-Tax and Treasury David Maura – Chairman and Chief Executive Officer Jeremy Smeltser – Chief Financial Officer Conference Call Participants Peter Grom – UBS Bob Labick – CJS Securities Chris Carey – Wells Fargo Securities Steve Powers – Deutsche Bank Operator Good day, and thank you for standing by. Welcome to the Spectrum Brands’ Second Quarter 2024 Ea ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to______ | Commission File No. | Name of Registrant, State of Incorporation, | IRS Employer Identification No. | | --- | --- | --- | | | Address ...

Exhibit 99.1 3001 Deming Way Middleton, WI 53562-1431 P.O. Box 620992 Middleton, WI 53562-0992 (608) 275-3340 For Immediate Release Investor/Media Contact: Joanne Chomiak 608-275-4458 Spectrum Brands Holdings Reports Fiscal 2024 Second Quarter Results Middleton, WI, May 9, 2024 - Spectrum Brands Holdings, Inc. (NYSE: SPB; "Spectrum Brands" or the "Company"), a leading global branded consumer products and home essentials company focused on driving innovation and providing exceptional customer service, today ...

Financial Performance - Net sales for Q1 2024 decreased by 3%, aligning with expectations due to challenging macroeconomic conditions and competitive retail environment [6][54] - Gross margins improved by 710 basis points to 35.4%, driven by lower cost inventory and productivity initiatives [7][25] - Adjusted EBITDA increased by 111.8% to $84.3 million, benefiting from improved gross margins and $23 million in investment income [19][26] - Operating income rose by $45.2 million to $25 million, primarily due to gross margin improvements and lower operating expenses [13] Business Unit Performance - Global Pet Care (GPC) reported a slight sales decline of 0.2%, with organic sales down 2%, impacted by SKU rationalization and lower demand in aquatics [58][66] - Home & Garden net sales increased by 0.8%, driven by growth in the Controls category, while the Cleaning category faced softness [33][65] - Home & Personal Care (HPC) saw a 5.8% decrease in reported net sales, with organic sales down 7.6%, primarily due to declines in small kitchen appliances [66][70] Market Performance - EMEA region sales increased due to growth in Companion Animal products, while North America experienced overall sales declines [30][37] - E-commerce sales grew by 28.3% year-over-year, indicating a strong performance in online channels [48] Company Strategy and Industry Competition - The company is focusing on operational efficiencies and investing in brand marketing and innovation to drive long-term growth [20][50] - Plans to separate the HPC segment through a sale, merger, or spin-off are underway, with expectations for a transaction announcement later this year [21][134] - The competitive landscape remains challenging, with expectations of continued pricing pressure and cautious inventory management among retailers [36][41] Management Commentary on Operating Environment and Future Outlook - Management expressed cautious optimism about the first quarter results but acknowledged ongoing geopolitical and macroeconomic headwinds [23][93] - The company aims to return to revenue growth and improve operational performance, with a focus on fewer, larger innovations [73][100] Other Important Information - The company returned over $825 million to shareholders through share repurchase programs, reducing the share count by 26% [10][27] - The balance sheet is strong, with a cash balance of $445 million and total debt reduced to approximately $1.4 billion [28][43] Q&A Session Summary Question: Can you discuss the constraints on cash deployment and share repurchases? - Management highlighted a strong balance sheet with no bank debt and emphasized the importance of returning capital to shareholders while focusing on growth [82][83] Question: What gives confidence in returning to growth in HPC? - Management noted that the industry is rationalizing, and as competitors exit the market, there is potential for improved demand patterns [95][96] Question: How is the company addressing innovation and topline growth? - The company is investing in new product development and marketing, with a focus on testing and learning from customer feedback [116][117]