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Spectrum Brands Holdings, Inc. (symbol: SPB) is a prominent global consumer products company, renowned for its extensive range of market-leading and trusted brands. As a member of the Russell 2000 Index, Spectrum Brands engages in supplying a diverse array of consumer essentials, ensuring they meet the needs of households worldwide.
The company’s core business encompasses the supply of consumer batteries, residential locksets, residential builders’ hardware, plumbing and accessories, shaving and grooming products, personal care items, small household appliances, specialty pet supplies, lawn and garden products, home pest control solutions, personal insect repellents, and auto care goods. With this wide portfolio, Spectrum Brands stands as a critical player in various consumer markets.
Spectrum Brands manages its operations through three key segments: Home and Personal Care, Global Pet Care, and Home and Garden. Its products are manufactured, marketed, and distributed across multiple regions including North America, Europe, the Middle East & Africa, Latin America, and Asia-Pacific.
Among its well-known brands are Rayovac®, Varta®, Kwikset®, Weiser®, Baldwin®, National Hardware®, Pfister™, Remington®, George Foreman®, Black + Decker®, Farberware®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-in-1®, Furminator®, IAMS®, Eukanuba®, Digest-eeze™, Healthy-Hide®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot Shot®, Black Flag®, Liquid Fence®, Armor All®, STP®, and A/C Pro®.
Recent achievements by Spectrum Brands include the launch of innovative products and strategic partnerships aimed at enhancing their market presence and meeting evolving consumer demands. Financially, Spectrum Brands continues to demonstrate resilience and growth potential, fueled by its diversified product offerings and global footprint.
Latest News: Spectrum Brands Holdings, Inc. continues to be in the spotlight with its latest developments and performance updates. Stay informed on the latest news to keep abreast of the company's progress and significant milestones.
Spectrum Brands Holdings (NYSE: SPB) reported strong fiscal 2024 fourth quarter results with net sales increasing 4.5% to $773.7 million and organic net sales growing 4.8%. The company achieved net income of $12.8 million and Adjusted EBITDA of $68.9 million, despite $25.9 million in incremental brand investments. For the full year, net sales grew 1.5% with Adjusted EBITDA of $371.8 million. The company returned $482.7 million to shareholders through share repurchases and increased its quarterly dividend by 12% to $0.47. Looking ahead to fiscal 2025, SPB expects low single-digit net sales growth and mid to high single-digit Adjusted EBITDA growth.
Spectrum Brands Holdings (NYSE: SPB) announced a 12% increase in its quarterly dividend, raising it to $0.47 per share on Common Stock. The new dividend rate represents an annualized dividend yield of 2% based on the current stock price. The dividend will be payable on December 17, 2024, to shareholders of record as of November 26, 2024. Spectrum Brands is a home-essentials company that supplies specialty pet supplies, lawn and garden products, pest control items, personal care products, and small household appliances under various well-known brands.
Spectrum Brands Holdings (NYSE: SPB) has announced it will release its fiscal 2024 fourth quarter financial results on November 15, 2024, before markets open. The company will host a live conference call and webcast at 9:00 a.m. Eastern Time, led by CEO David Maura and CFO Jeremy Smeltser. The presentation will be accessible through the company's website investor relations section, with a replay available afterward.
Spectrum Brands Holdings reported a 6.0% increase in net sales for Q3 FY2024, driven by favorable weather and improved inventory health in the Home & Garden business. Net income from continuing operations reached $19.1 million, with adjusted EBITDA at $106.3 million. Excluding investment income, adjusted EBITDA was $93.6 million. The company improved its capital structure by repaying $1.174 billion in senior unsecured bonds and issuing $350 million in new bonds with a 3.375% coupon.
Key highlights:
- Gross profit increased to $302.8 million, a 14.9% rise.
- Gross profit margin improved by 310 basis points to 38.9%.
- Adjusted EBITDA margins excluding investment income were 12.0%.
- $500 million share repurchase authorization approved; 1.6 million shares repurchased for $142 million in Q3.
For FY2024, Spectrum Brands expects net sales to remain flat but anticipates a 20% growth in adjusted EBITDA, excluding investment income. E-commerce sales grew over 20%, now representing more than 21% of quarterly sales. The company is also pursuing a sale, merger, or spin-off of its Home and Personal Care segment.
Spectrum Brands Holdings (NYSE: SPB) has declared a quarterly dividend of $0.42 per share on its Common Stock. The dividend is payable on September 24, 2024 to shareholders of record as of August 27, 2024. Spectrum Brands is a home-essentials company focusing on delivering innovative products and solutions for use in and around the home through trusted brands. The company is a leading supplier of specialty pet supplies, lawn and garden products, home pest control products, personal care items, and small household appliances. Its portfolio includes well-known brands such as Tetra, DreamBone, Spectracide, Remington, and BLACK + DECKER.
Spectrum Brands Holdings (NYSE: SPB) has announced it will release its fiscal 2024 third quarter financial results on August 8, 2024, before the markets open. The company will conduct a live conference call and webcast at 9:00 a.m. Eastern Time on the same day. The event will be hosted by David Maura, Executive Chairman and CEO, and Jeremy Smeltser, Executive VP and CFO.
Investors can access the webcast and presentation slides through the Event Calendar page in the Investor Relations section of Spectrum Brands' website. A replay of the broadcast will be available after the call. Spectrum Brands is a home-essentials company focusing on delivering innovative products for use in and around the home through trusted brands.
Spectrum Brands Holdings (NYSE: SPB) has filed a confidential Form 10 registration statement with the SEC for the spin-off of its Home & Personal Care (HPC) business. The filing signifies a significant step in separating HPC from its other businesses, potentially through a spin-off, sale, or merger. Spectrum Brands emphasizes that the filing does not obligate them to complete the spin-off or any other transaction. The company is known for its broad portfolio of trusted brands in pet supplies, lawn and garden products, pest control, personal care, and small household appliances.
Spectrum Brands Holdings (NYSE: SPB) has announced the pricing terms and accepted tender amounts for its tender offer and consent solicitation. The offer involves purchasing up to $1,160.5 million in aggregate principal of its 2026, 2029, 2030, and 2031 Senior Notes. The early tender deadline was June 3, 2024, with an expected early settlement date of June 17, 2024, for the 2026 Notes and June 18, 2024, for the other notes. Spectrum Brands will use cash on hand and possibly borrowings to fund the purchase. The final settlement date is anticipated to be June 21, 2024.
Spectrum Brands Holdings announced the early results of its tender offer and consent solicitation for its senior notes. The offer, originally set at a maximum of $925 million, has been increased to $1,160.5 million. As of June 3, 2024, significant percentages of the notes due in 2026, 2029, 2030, and 2031 have been tendered, with acceptance priority levels assigned. The early tender settlement dates are June 17, 2024, for the 2026 notes, and June 18, 2024, for the rest. Spectrum Brands plans to fund the offer using cash on hand and possibly loans. The tender offer and consent solicitation are set to expire on June 18, 2024. Holders who tender notes after the early deadline will not have their notes accepted. The company retains the right to amend or terminate the offer at its discretion.
Spectrum Brands Holdings announced a private offering of $300 million in aggregate principal amount of 3.375% exchangeable senior notes due 2029. The company plans to use the net proceeds for capped call transactions, share repurchases, and general corporate purposes. The offering, expected to close on May 23, 2024, should result in $291.6 million in net proceeds. The exchange rate stands at 8.2060 shares per $1,000 principal amount, with an initial exchange price of $121.86 per share, a 30% premium over the last reported sale price. The notes mature on June 1, 2029, and carry a semi-annual interest payable on June 1 and December 1.
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