Newell Brands Inc. shares rose 1% in Friday premarket trading after the consumer goods company swung to a first-quarter profit and raised its 2021 guidance. Net income totaled $89 million, or 21 cents per share, after a loss of $1.28 billion, or $3.02, last year. Adjusted EPS of 30 cents beat the FactSet consensus for 13 cents. Sales of $2.29 billion were up from $1.89 billion and also ahead of the FactSet consensus of $2.07 billion. Newell’s portfolio includes Oster, Rubbermaid, Paper Mate pens, and Marmot outdoor gear. For the second quarter, Newell is guiding for sales of $2.50 billion to $2.58 billion, core sales growth of 17% to 20% and adjusted EPS of 41 cents to 45 cents. The FactSet consensus is for sales of $2.38 billion and EPS of 42 cents. For the full year, the company now expects sales of $9.9 billion to $10.1 billion versus previous guidance for $9.5 billion to $9.7 billion, core sales growth of 5% to 7% versus previous low-single-digit growth guidance, and adjusted EPS of $1.63 to $1.73 up from $1.55 to $1.65. The FactSet consensus is for full-year sales of $9.69 billion and EPS of $1.64. Newell Brands shares are up 27.1% for the year to date, outpacing the S&P 500 index , which is up 12.1% for the period.
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