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Feb 12, 2024

Spectrum Brands has strong Q1 gross profit

Spectrum Brands Holdings, Inc. had net sales of $692.2 million in the first quarter of fiscal 2024, a decrease of three percent compared to net sales of $713.3 million in the first quarter of fiscal 2023. Net sales for the home and garden segment were $72 million, up 0.8 percent compared to the year ago period; net sales for the home and personal care segment were $343.3 million, down 5.8 percent. Overall gross profit was $244.9 million, up 21.3 percent compared to $201.9 million in the year-ago period. The company had adjusted EBITDA of $26.7 million, up 103 percent compared to $13.2 million in the prior year period.

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