Spectrum Brands Reports Third Quarter Earnings for FY2023
August 16, 2023
🌥️Earnings Overview
On August 11 2023, Spectrum Brands ($NYSE:SPB) released their earnings results for the third quarter of FY2023, which ended on June 30 2023. The company reported total revenue for the quarter at USD 735.5 million, a 10.1% decrease compared to the same period in the previous year. Despite this, net income climbed to USD 1859.2 million, a remarkable increase from the USD 32.7 million reported in the same quarter of the prior year.
Share Price
The company’s stock opened at $77.4 and closed at $77.3, indicating an increase of 3.0% from its previous closing price of 75.1. This further solidifies the performance of the company in the current fiscal year. The report included key financial indicators that showed a positive trend in the overall financial performance of the company. These impressive numbers demonstrate the positive results that SPECTRUM BRANDS has achieved in the current fiscal year.
Investors have responded positively to the growth in the company’s stock price and have shown a lot of confidence in SPECTRUM BRANDS’ ability to generate sustainable profits over time. Overall, the company has performed well in the third quarter of FY2023 and is projected to continue its positive trend in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Spectrum Brands. More…
| Total Revenues | Net Income | Net Margin |
| 2.93k | 1.8k | -3.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Spectrum Brands. More…
| Operations | Investing | Financing |
| 188.9 | 4.26k | -1.76k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Spectrum Brands. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.35k | 3.79k | 71.67 |
Key Ratios Snapshot
Some of the financial key ratios for Spectrum Brands are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -8.2% | -59.6% | -7.1% |
| FCF Margin | ROE | ROA |
| 4.3% | -6.9% | -2.0% |
Analysis
GoodWhale conducted an analysis of SPECTRUM BRANDS‘ financials and found that, based on our Star Chart classification, SPECTRUM BRANDS is a ‘cow’ – a type of company with a track record of paying out consistent and sustainable dividends. This type of company may be attractive to investors seeking a steady income stream. Our analysis also revealed that SPECTRUM BRANDS is strong in asset and dividend categories, and medium in profitability. Growth was the only weak category. In terms of general financial health, the company scored an 8/10, indicating that its cashflows and debt are in good standing and it is capable of weathering a crisis without the risk of bankruptcy. More…
Peers
Despite the intense competition, Spectrum Brands Holdings Inc has been able to remain a top player in the industry by focusing on innovation, customer service, and providing high-quality products at competitive prices.
– Godrej Consumer Products Ltd ($BSE:532424)
Godrej Consumer Products Ltd is a leading Indian fast-moving consumer goods company, headquartered in Mumbai. It manufactures and markets a wide range of products across food, personal care, and home care segments. The company has a market cap of 937.97B as of 2023, which is indicative of its strong performance in the market. Its Return on Equity (ROE), which is an indicator of how effectively the company uses its shareholders’ equity to generate profits, is 10.44%. This high ROE reflects the company’s ability to generate profits for its shareholders.
– Ontex Group NV ($OTCPK:ONXYY)
Ontex Group NV is a leading global hygiene company with over 20 years of experience in the hygiene and personal care market. It is headquartered in Belgium and serves markets in Europe, Africa, Latin America, the Middle East, and Asia Pacific. The company’s market cap as of 2023 stands at 593.34M, indicating a strong financial standing in the market. Its Return on Equity (ROE) is -7.25%, which is a measure of how efficient the company utilizes its assets to generate profits. Ontex Group NV is engaged in the production, distribution and marketing of products such as baby diapers, adult incontinence products, feminine care products, and wet wipes.
– Henkel AG & Co KGaA ($OTCPK:HENOY)
Henkel AG & Co KGaA is a multinational consumer goods company based in Düsseldorf, Germany. It specializes in the production of laundry detergents, beauty care products, and adhesives, among other products. As of 2023, the company’s market capitalization was 28.76 billion euros. This figure reflects the company’s success in increasing shareholder value over the past year. Henkel’s return on equity (ROE) was 4.84%, which indicates that the company is efficiently utilizing its assets to generate a return. Henkel’s strong financial performance is testament to its business model and commitment to innovation.
Summary
Investors in Spectrum Brands may be pleased with their third quarter financial results for FY2023, which saw total revenue decrease by 10.1%, but net income rise to USD 1859.2 million. This was a stark contrast from the same period the previous year, when net income was only USD 32.7 million. On the heels of this news, the company’s stock price moved up, suggesting that investors have felt confident in the financial performance of the company. As Spectrum Brands continues to adapt to changing markets and implement strategies to drive growth, investors can stay on top of their performance to ensure their investments remain sound.
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