OREANDA-NEWS. Newell Brands Inc. (NYSE: NWL) announced it will reaffirm its fiscal year 2016 outlook, as provided in its first quarter 2016 earnings press release dated April 29, 2016, during its presentation tomorrow at the Deutsche Bank Global Consumer Conference in Paris, France.

The company is reaffirming its full year 2016 guidance as follows:

         

Year Ending
December 31, 2016
  Newell Brands core sales growth         3.0% to   4.0%
         
  Normalized earnings per share        

$2.75

 to  

$2.90

The company’s core sales growth guidance assumes legacy Newell Rubbermaid core sales growth of 4 to 5 percent and legacy Jarden core sales growth of 2 to 4 percent, which includes the negative impact of planned product line exits. Jarden core sales growth of 2 to 4 percent is roughly in line with Jarden’s pre-transaction long term “organic growth” target of 3 to 5 percent. Newell Brands expects to exit product lines with annual sales of $250 million to $300 million across both legacy businesses over the next two to three years.

About Newell Brands

Newell Brands (NYSE: NWL) is a leading global consumer goods company with a strong portfolio of well-known brands, including Paper Mate®, Sharpie®, Dymo®, EXPO®, Parker®, Elmer’s®, Coleman®, Jostens®, Marmot®, Rawlings®, Irwin®, Lenox®, Oster®, Sunbeam®, FoodSaver®, Mr. Coffee®, Rubbermaid Commercial Products®, Graco®, Baby Jogger®, NUK®, Calphalon®, Rubbermaid®, Contigo®, First Alert®, Waddington and Yankee Candle®. Driven by a sharp focus on the consumer, leading investment in innovation and brands, and a performance-driven culture, Newell Brands helps consumers achieve more where they live, learn, work and play.

Reconciliation of Non-GAAP Financial Measures

Reconciliations of the 2016 core sales growth and normalized earnings per share outlooks are as follows:

       

Year Ending December 31, 2016
  Estimated net sales growth (GAAP)     122.0%     to     127.0%
  Less: Jarden net sales growth included in pro forma base     115.0%     to     120.0%
  Net sales growth, pro forma (1)     7.0%     to     8.0%
  Less: Currency     (1.0%)     to     (2.0%)
  Acquisitions, net of divestitures (2)     6.0%     to     7.0%
  Venezuela deconsolidation           (1.0%)      
  Newell Brands core sales growth, pro forma (1)     3.0%     to     4.0%

(1) Pro forma as if the Jarden transaction were completed April 15, 2015.

(2) Acquisitions, net of divestitures represents estimated sales of The Waddington Group, Inc., Jostens, Inc. and Elmer's Products, Inc. until the one year anniversary of their respective dates of acquisition, net of the impacts of the divestiture of the Rubbermaid medical cart business in August 2015 and the planned divestiture of the Levolor and Kirsch window coverings brands ("D?cor") in 2016.

       

Year Ending December 31, 2016
  Diluted earnings per share     $ 1.45     to     $ 1.60
  Project Renewal and Project Lean restructuring and other costs     $ 0.35     to     $ 0.45
  Integration costs to drive synergies     $ 0.10     to     $ 0.15
  Estimated gain on sale of D?cor     $ (0.25)     to     $ (0.35)
  Jarden transaction-related costs     $ 0.20     to     $ 0.30
  Acquisition-related amortization* and inventory step-up     $ 0.75     to     $ 0.95
  Normalized earnings per share     $ 2.75     to     $ 2.90

* Represents amortization of acquisition-related intangibles beginning in the second quarter of 2016.