Spectrum Brands(US:SPB)2022-11-18 17:51Financial Performance - Fiscal Year 2022 - Net sales increased by 4.5% to $3.133 billion in FY22 compared to $2.998 billion in FY21[20] - Adjusted EBITDA decreased by 27.7% to $283 million in FY22 from $392 million in FY21[23] - Organic sales showed a slight increase of 0.1%[24] - GAAP Net Income decreased by $92 million[24, 52] Financial Performance - Fourth Quarter 2022 - Net sales decreased by 1.1% to $749.5 million in Q4 FY22 compared to $757.8 million in Q4 FY21[82] - Adjusted EBITDA decreased by 5.6% to $75 million in Q4 FY22 from $79 million in Q4 FY21[14, 16] - Organic sales decreased by 7.3%[17] - GAAP Net Income was down by $31 million[17, 39] Segment Performance - Fourth Quarter 2022 - Home & Personal Care (HPC) net sales increased by 11.5% to $344.9 million, but organic sales decreased by 9.0%[54, 56, 91, 93] - Global Pet Care (GPC) net sales decreased by 5.2% to $287.8 million, with organic sales increasing slightly by 0.2%[60, 62, 91, 93] - Home & Garden (H&G) net sales decreased significantly by 19.4% to $116.8 million, with organic sales also down by 19.4%[66, 68, 91, 93] Fiscal Year 2023 Outlook - The company is targeting low single-digit growth in net sales[32, 72, 76] - The company is targeting low double-digit growth in adjusted EBITDA[32, 72, 76]