Stock Story -
Household products company Spectrum Brands (NYSE:SPB) will be announcing earnings results tomorrow before market hours. Here’s what you need to know.
Spectrum Brands beat analysts’ revenue expectations by 3.8% last quarter, reporting revenues of $779.4 million, up 6% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates.
Is Spectrum Brands a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting Spectrum Brands’s revenue to be flat year on year at $747.5 million, improving from the 1.2% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.07 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Spectrum Brands has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Spectrum Brands’s peers in the household products segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Clorox (NYSE:CLX) delivered year-on-year revenue growth of 27.1%, beating analysts’ expectations by 7.6%, and Church & Dwight reported revenues up 3.8%, topping estimates by 1%. Clorox traded up 1.2% following the results while Church & Dwight was also up 3.1%.
Read the full analysis of Clorox’s and Church & Dwight’s results on StockStory.
Investors in the household products segment have had steady hands going into earnings, with share prices flat over the last month. Spectrum Brands is up 1.6% during the same time and is heading into earnings with an average analyst price target of $105.63 (compared to the current share price of $93.70).