Newell Brands Inc. $(NWL)$ stock rose 2.7% in Friday premarket trading after the consumer goods company reported third-quarter profit that fell but beat expectations, and raised its full-year guidance.
Net income totaled $190 million, or 44 cents per share, down from $304 million, or 71 cents per share, last year. Adjusted EPS of 54 cents beat the FactSet consensus of 50 cents. Sales of $2.787 billion were up from $2.699 billion and also ahead of the FactSet consensus for $2.780 billion.
Newell Brands' portfolio includes Rubbermaid, Sharpie, Mr. Coffee and Graco baby products. The company is guiding for fourth quarter sales totaling $2.60 billion to $2.68 billion and adjusted EPS of 29 cents to 33 cents.
The FactSet consensus is for sales of $2.596 billion and EPS of 37 cents. For the full year, Newell is now forecasting sales of $10.38 billion to $10.46 billion, up from previous guidance of $10.1 billion to $10.35 billion, and adjusted EPS of $1.69 to $1.73, up from previous guidance of $1.63 to $1.73.
The FactSet consensus is for sales of $10.374 billion and EPS of $1.72. Newell stock has risen 2.5% for the year to date while the S&P 500 index has gained 22.4% for the period.
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