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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 announced a $300 million offering of exchangeable senior notes due 2029 and a share repurchase plan. The proceeds will fund capped call transactions, repurchase up to $100 million of common stock, and support general corporate purposes. Additionally, the company may issue up to $50 million in extra notes if demand exceeds the initial offering. The notes, accruing semi-annual interest, can be exchanged under specific conditions and will mature on June 1, 2029. A new $500 million share repurchase authorization replaces an $80 million program. The repurchases aim to stabilize or increase stock prices. The capped call transactions are designed to mitigate dilution upon note exchange.
Spectrum Brands Holdings announced a cash tender offer and consent solicitation for its outstanding senior notes. The offer involves 4.00% Senior Notes due 2026, 5.00% Senior Notes due 2029, 5.50% Senior Notes due 2030, and 3.875% Senior Notes due 2031, with a combined purchase price up to $925 million. The Early Tender Time is June 3, 2024, and the Expiration Time is June 18, 2024. The company also seeks consents for proposed amendments to the indentures governing the 2026, 2029, and 2030 Notes. These amendments would shorten redemption notice periods and eliminate restrictive covenants. The Tender Offer and Consent Solicitation may be adjusted, extended, or terminated at Spectrum Brands' discretion. RBC Capital Markets, J.P. Morgan Securities, and UBS Securities are managing the offer.
Spectrum Brands Holdings reported a decrease in net sales by 1.5% due to lower consumer demand in home appliances and aquatics in North America. However, net income and Adjusted EBITDA improved significantly. The company repurchased shares worth $98 million and entered into a new long-term license agreement with Black & Decker. They updated their fiscal 2024 earnings framework, expecting flat net sales and low double-digit growth in Adjusted EBITDA. Spectrum Brands also announced plans to pursue strategic alternatives for their Home and Personal Care business.
Spectrum Brands Holdings, Inc. (NYSE: SPB) declared a quarterly dividend of $0.42 per share on Common Stock payable on June 18, 2024. The company aims to make living better at home through its innovative products and solutions under various trusted brands.
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