Newell Brands shares continued to rally after the company reported second-quarter profits sharply above Wall Street expectations, driven by tariff refunds and a return to sales growth. Net sales rose 3% year-over-year to $2 billion, marking the first positive sales growth in more than four years, while adjusted earnings per share climbed 75% to $0.42. Management raised its full-year earnings per share guidance to between $0.73 and $0.77, up from a prior forecast of $0.56 to $0.60. Canaccord Genuity reiterated its buy rating and boosted its share price target from $9 to $11, implying potential gains of more than 70%.
Newell Brands IncQ2 earnings beat, tariff refunds, sales growth, raised guidance, and analyst price target increase.