Newell Brands
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Newell Brands (NWL) investor relations material

Newell Brands Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary6 Feb, 2026

Executive summary

  • Significant investment in front-end and back-end capabilities since 2023 has driven improved structural economics and resilience, despite 2025 being more challenging than anticipated due to tariffs and retailer fulfillment shifts.

  • Decisive actions included reducing China sourcing below 10%, launching a global productivity plan, and executing three rounds of pricing to protect margins.

  • Q4 net sales declined 2.7% YoY to $1.9B, with core sales down 4.1%; full-year net sales were $7.2B, down 5%, and core sales down 4.6%.

  • Normalized operating margin improved in Q4 (8.7% vs. 7.1%) and for the full year (8.4% vs. 8.2%), with normalized net income for Q4 at $75M and for the year at $240M.

  • Net loss for Q4 was $315M and for the full year $285M, both higher than prior year.

Financial highlights

  • Q4 normalized EBITDA: $241M, up nearly 12% YoY; full-year normalized EBITDA: $882M, down 2%.

  • Q4 normalized gross margin: 33.9% (down 70 bps YoY); full-year normalized gross margin: 34.2% (up 10 bps YoY).

  • Q4 normalized EPS: $0.18 (vs. $0.16 prior year); full-year normalized EPS: $0.57 (down from $0.68 YoY).

  • Operating cash flow for 2025 was $264M, down from $496M in 2024, impacted by tariffs and higher bonus payouts.

  • Net leverage ratio at year-end: 5.1x; net debt at year-end: $4.47B.

Outlook and guidance

  • 2026 net sales guidance: -1% to +1%; core sales: -2% to flat, assuming category contraction of ~2%.

  • Normalized operating margin expected at 8.6%-9.2%; normalized EPS: $0.54-$0.60, including a $0.07 EPS headwind from tariffs and higher tax rate.

  • Operating cash flow guidance: $350-$400M (midpoint: +40% YoY); CapEx budget: $200M.

  • Q1 2026 expected to be the weakest quarter due to shipment timing and shelf resets; Q2-Q4 expected to show even, positive growth.

What is the net 2026 EPS impact from tariffs?
Drivers for 2026 operating cash flow increase?
How to gain share with flat category demand?
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Frequently asked questions

Newell Brands Inc. operates in five segments: Commercial Solutions, which distributes commercial products for foodservice and other industries; Home Appliances, which offers kitchen appliances and accessories under a number of diverse brand names; Home Solutions, which includes the Rubbermaid and Levolor brands and markets storage, organization, laundry care, and other household products; Learning and Development, which focuses on early childhood learning toys and family games; and Outdoor and Recreational Products ,which markets outdoor cooking grills and accessories under the Weber brand name.

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