Newell's Debt Refinancing and Expense Discipline Cushion Margin Impact
Dow Jones10-30
Newell Brands' normalized gross margin expanded to 35.2% in the third quarter from 34.5% a year earlier, with higher net sales and productivity gains offsetting inflation headwinds. The company entered into a new $800 million asset-based revolving credit facility during the quarter and issued $600 million in senior notes due 2031 to redeem notes maturing in 2027. Higher sales expectations and additional cost containment measures are enabling the company to maintain its full-year normalized operating margin guidance at 10% to 10.4% and normalized EPS guidance at $0.74 to $0.76.
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