Earnings

Spectrum Brands (SPB) Q3 Earnings & Sales Beat Estimates

Spectrum Brands Holdings Inc. SPB posted better-than-expected results in third-quarter fiscal 2020. Results gained from solid demand for its products throughout the quarter. Notably, the majority of its segments delivered sturdy sales growth. However, supply-chain disruptions related to the Hardware & Home Improvement segment hurt quarterly growth to some extent.

Moving on, the company’s global productivity improvement plan savings contributed to quarterly growth. Encouragingly, this plan is anticipated to generate at least $100 million of full run-rate cost savings over the next nine to 12 months.

Despite such upsides, management withdrew the fiscal 2020 view. That said, demand remains positive for three of its four categories. Also, Spectrum Brands estimates shipments and factory output to improve in the fiscal fourth quarter.

Spectrum Brands Holdings Inc. Price, Consensus and EPS Surprise

Spectrum Brands Holdings Inc. Price, Consensus and EPS Surprise

Spectrum Brands Holdings Inc. price-consensus-eps-surprise-chart | Spectrum Brands

Read More

4 Retails Stocks Likely to Top Estimates This Earnings Season

Though the earnings season has reached its tail end, the main chunk of releases from the Retail-Wholesale sector is yet to come. This time the season has been quite different for retailers. The space has been hit hard by the coronavirus-induced stay-at-home orders, social distancing and some mandatory store closures. As a result, U.S. retail sales witnessed a record decline for the second consecutive month in April. Per the Commerce Department retail sales in April fell 16.4%, following a decline of 8.3% in March.

Per the latest Zacks Earnings Preview report, the sector is anticipated to witness top-line growth of 5% this earnings season, down from an improvement of 7.2% in the last reporting cycle. Again, the bottom line is expected to plunge 21%, following an increase of one percentage point in the preceding season.

Here’s How the Quarter Shaped Up

The quarter that commenced on an upbeat note took

Read More

5 Retailers Likely to Gain on Earnings Results This Month

A bulk of the retail sector is gearing up to report first-quarter earnings and a handful of companies from this space are set to beat earnings estimates this month. This raises optimism in an otherwise coronavirus-stricken reporting cycle.

Retail Sector Suffers Due to Pandemic

On Apr 15, the Commerce Department stated that U.S. retail and food services sales in March fell 8.7% to $483.1 billion, following a revised reading of a 0.4% decline in February. However, on May 15, the Commerce Department revised March retail sales to a decline of 8.3%. The unprecedented fall in March retail sales marked the largest monthly decline since the economic recession in November 2008.

The coronavirus pandemic has brought economic activities to a standstill leading to skyrocketing job losses and massive pay cuts. Consequently, this has resulted in sinking consumer confidence and dwindling household income, which have severely impacted spending activities and taken a

Read More