Spectrum Brands (SPB) Q2 Earnings and Revenues Miss Estimates

Core Viewpoint - Spectrum Brands reported quarterly earnings of $0.68 per share, significantly missing the Zacks Consensus Estimate of $1.35 per share, representing a -49.63% earnings surprise [1] - The company also reported revenues of $675.7 million for the quarter, falling short of the Zacks Consensus Estimate by 2.76% and down from $718.5 million a year ago [2] Earnings Performance - Over the last four quarters, Spectrum has only surpassed consensus EPS estimates once [2] - The company had a previous quarter earnings expectation of $0.91 per share but reported $1.02, resulting in a positive surprise of 12.09% [1] Stock Performance - Spectrum shares have declined approximately 26.8% since the beginning of the year, compared to a -4.3% decline in the S&P 500 [3] - The current Zacks Rank for Spectrum is 5 (Strong Sell), indicating expected underperformance in the near future [6] Future Earnings Outlook - The consensus EPS estimate for the upcoming quarter is $1.53 on revenues of $792.4 million, and for the current fiscal year, it is $4.70 on revenues of $2.94 billion [7] - The trend of estimate revisions for Spectrum has been unfavorable leading up to the earnings release [6] Industry Context - The Consumer Products - Discretionary industry, to which Spectrum belongs, is currently ranked in the bottom 24% of over 250 Zacks industries, suggesting potential challenges ahead [8]