Spectrum Brands Holdings Inc. SPB posted better-than-expected results in third-quarter fiscal 2020. Results gained from solid demand for its products throughout the quarter. Notably, the majority of its segments delivered sturdy sales growth. However, supply-chain disruptions related to the Hardware & Home Improvement segment hurt quarterly growth to some extent.
Moving on, the company’s global productivity improvement plan savings contributed to quarterly growth. Encouragingly, this plan is anticipated to generate at least $100 million of full run-rate cost savings over the next nine to 12 months.
Despite such upsides, management withdrew the fiscal 2020 view. That said, demand remains positive for three of its four categories. Also, Spectrum Brands estimates shipments and factory output to improve in the fiscal fourth quarter.
Spectrum Brands Holdings Inc. Price, Consensus and EPS Surprise
Spectrum Brands Holdings Inc. price-consensus-eps-surprise-chart | Spectrum Brands