Spectrum Brands(US:SPB)2025-02-07 10:30Financial Performance - Net sales increased by 1.2% to $700.2 million compared to $692.2 million[65, 59] - Organic net sales grew by 1.9%[16] - Adjusted EBITDA improved by 26.9% excluding investment income[16] - Gross margins increased by 140 basis points[16] - Net leverage is under 1.1x[16] Share Repurchases - The company repurchased 15.3 million shares[20] - Total shares outstanding were reduced by approximately 36.6%[20] - $1.2 billion was spent on share repurchases[20] - The company entered into a $150 million 10b5-1 share repurchase plan in Q1 FY25[21] Segment Performance - Global Pet Care (GPC) net sales decreased by 6.1%[37] and organic sales decreased by 6.4%[38] - Home & Garden (H&G) net sales increased by 27.9%[41] and organic sales increased by 27.9%[43] - Home & Personal Care (HPC) net sales increased by 1.4%[45] and organic sales increased by 3.1%[45] FY25 Outlook - The company is targeting low single-digit net sales growth[57] - The company is targeting mid-to-high single-digit adjusted EBITDA growth (excluding investment income)[57] - The company is targeting approximately 50% adjusted free cash flow conversion as a percentage of adjusted EBITDA[57]