Newell Brands(US:NWL)2021-10-31 13:33Q3 2021 Performance Highlights - Core sales increased by 3.2% YoY in Q3 2021[8], and increased by 15.2% YTD 2021[7] - Q3 2021 net sales reached $2.8 billion with a normalized operating margin of 11.4% and normalized diluted earnings per share of $0.54[11] - YTD 2021 net sales reached $7.8 billion with a normalized operating margin of 11.4% and normalized diluted earnings per share of $1.40[11] Balance Sheet and Cash Flow - The company's leverage ratio is 3.1x[13] - Debt paydown amounted to approximately $450 million YTD[13] - The cash conversion cycle improved by approximately 10 days[13] - YTD operating cash flow was $490 million[13] Segment Performance - Commercial Solutions core sales declined by 9.2% with a normalized operating margin decrease of 1,210 bps YoY to 4.3%[18] - Home Appliances core sales grew by 1.9% with a normalized operating margin increase of 30 bps YoY to 5.4%[21] - Home Solutions core sales declined by 3.6% with a normalized operating margin decrease of 760 bps YoY to 14.4%[23] - Learning & Development core sales grew by 19.6% with a normalized operating margin increase of 20 bps YoY to 22.7%[25] - Outdoor & Recreation core sales grew by 1.7% with a normalized operating margin decrease of 330 bps YoY to 8.7%[28] Outlook - Q4 2021 net sales are projected to be between $2.60 to $2.68 billion, with core sales declining 2% to growing 1%, and a normalized operating margin of 8.7% to 9.2%[32] - Full year 2021 net sales are projected to be between $10.38 to $10.46 billion, with core sales growing 10% to 11%[35]