Spectrum Brands To Reiterate FY18 Outlook - Quick Facts

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(RTTNews.com) - Spectrum Brands Holdings, Inc. (SPB), a consumer products company, said it will reaffirm its fiscal 2018 financial outlook during its presentation today at the Raymond James 39th Annual Institutional Investors Conference.

The company will reiterate its outlook for fiscal 2018 consolidated net income of $432 million to $452 million, while net income from continuing operations is forecast in a range of $312 million to $324 million.

Spectrum Brands continues to expect fiscal 2018 reported net sales from continuing operations to increase above category rates for most categories, including the anticipated modest positive impact from foreign exchange based on current rates.

The company also continues to expect fiscal 2018 adjusted EBITDA from continuing operations between $657 million and $674 million, including the negative impact of $15 million to $20 million from facility consolidations and inflation headwinds, compared to $639 million in fiscal 2017.

Spectrum Brands also continues to anticipate receiving between $3.6 billion and $3.7 billion of gross proceeds by the end of calendar 2018 as a result of previously announced plans to divest its Global Batteries and Appliances businesses.

This includes $2 billion of gross proceeds from a definitive contract signed in January 2018 to sell the company's Global Battery and Lighting business to Energizer Holdings, Inc. ( ENR ).

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This article appears in: Politics , Stocks , World Markets
Referenced Symbols: ENR ,

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