Spectrum Brands reports Q2 adjusted EPS 68c, consensus $1.38

Reports Q2 revenue $675.7M, consensus $693.03M. CEO David Maura said, “While our Q2 results were challenged by macroeconomic and tariff pressures, we believe that Spectrum Brands (SPB) is well positioned to navigate this period of uncertainty and ultimately thrive. For the quarter, consumer sentiment in the U.S. declined faster than we had expected for our Global Pet Care and Home and Personal Care businesses, impacting category growth. While our Home and Garden business delivered another good quarter, we saw quarterly comparable sales decline as expected because of retailer pull-forwards into Q1. Despite these headwinds, I believe that our decisive actions position us well for the future. First, we benefit from the diversity, recession resilience and strong operating performance of our three business units and have a proven track record of navigating through difficult environments. Second, the strength of our balance sheet puts us in a unique position to capitalize on dislocation in our industry. We have one of the lowest leveraged balance sheets in our peer group and will protect our balance sheet and liquidity through cost reductions and working capital improvements. We believe our balance sheet makes us a strategic partner of choice, particularly amongst private equity held companies…”