Spectrum Brands Holdings Inc New (SPB)

Spectrum Brands (SPB) beats earnings and revenue expectations in fiscal Q2May 7, 2026 8:42 AM
IH Market News Spectrum Brands Holdings Inc. (NYSE:SPB) reported fiscal second-quarter 2026 results on Thursday that came in ahead of Wall Street forecasts, supported by strong performance in its pet care and home and garden businesses.The company posted adjusted earnings of $1.25 per share, exceeding the analyst consensus estimate of $1.07 by $0.18. Revenue returns to growth Quarterly revenue totaled $708.9 million, topping analyst expectations of $676.61 million and increasing 4.9% from $675.7 million recorded during the same period last year.Organic net sales, excluding foreign exchange effects, rose 1.5%.Spectrum Brands said revenue growth was fueled by market share gains in its Global Pet Care segment as well as favorable weather conditions that benefited the Home & Garden business.“We are pleased with our results this quarter, where we returned to top-line growth for the first time since first quarter of fiscal 2025,” said David Maura, Chairman and Chief Executive Officer. Profitability improves significantly Net income from continuing operations increased to $22.5 million, or $0.96 per diluted share, compared with $1.8 million, or $0.06 per diluted share, in the prior-year quarter.Adjusted EBITDA climbed 17.8% year-over-year to $84.0 million from $71.3 million, while adjusted EBITDA margin expanded by 120 basis points to 11.8%. Pet care and home & garden segments lead growth The Global Pet Care business generated net sales of $299.3 million, representing an 11.2% increase from a year earlier, with organic growth of 7.6%.Revenue in the Home & Garden segment rose 11.3% to $169.5 million.Meanwhile, the Home & Personal Care division posted a 5.5% decline in sales to $240.1 million, as weaker consumer demand and elevated retailer inventory levels weighed on performance. Company announces partnership with Oaktree Following the quarter’s close, Spectrum Brands revealed a strategic partnership involving its Home & Personal Care segment with Oaktree Capital Management.The agreement includes a $127 million investment tied to the business. Outlook updated for fiscal 2026 Spectrum Brands updated its fiscal 2026 outlook and now expects adjusted EBITDA growth in the low-to-mid single-digit percentage range.The company maintained its forecast for net sales growth of flat to low single digits for the full year. More about Spectrum Brands Spectrum Brands is a consumer products company with businesses spanning pet care, home and garden products, personal care appliances, and household solutions. Its portfolio includes a range of brands sold through retailers globally, serving both consumer and specialty markets.Spectrum Brands Holdings stock price Original: Spectrum Brands (SPB) beats earnings and revenue expectations in fiscal Q2

Spectrum Brands Holdings Reports Fiscal 2026 Second Quarter ResultsMay 7, 2026 6:30 AM
Business Wire Second Quarter Net Sales Increased 4.9% and Organic Net Sales Excluding Foreign Exchange Increased 1.5% Second Quarter Net Income From Continuing Operations of $22.5 Million and Adjusted EBITDA of $84.0 Million Increased by $20.7 Million and $12.7 Million, Respectively Ended Second Quarter with Net Debt Leverage of 1.66x Adjusted EBITDA Executed a Strategic Partnership in the Home and Personal Care Segment, Designed to Accelerate Long Term Growth of the Business Updating Fiscal 2026 Framework, Continue to Expect Net Sales to be Flat to Up Low Single Digits and Approximately 50% Conversion of Adjusted EBITDA to Adjusted Free Cash Flow; Adjusted EBITDA is Now Expected to be Up Low to Mid Single Digits Spectrum Brands Holdings, Inc. (NYSE: SPB; “Spectrum Brands” or the “Company”), a leading global branded consumer products and home essentials company focused on driving innovation and providing exceptional customer service, today reported results from continuing operations for the second quarter of fiscal 2026 ended March 29, 2026. "We are pleased with our results this quarter, where we returned to top-line growth for the first time since first quarter of fiscal 2025. Our key brands across Global Pet Care and Home & Garden continue to outperform the market driven by strong innovation and distribution gains. In Home & Personal Care, while net sales declined, adjusted EBITDA increased, demonstrating the positive impact of the actions taken over the past year. These results continue to reinforce the effectiveness of our strategic initiatives and the strength of our team. Looking forward, while we remain focused on the dynamic macroeconomic environment, our first half results represent meaningful progress for the full fiscal year. We are updating our earnings framework and increasing our Adjusted EBITDA expectation to low to mid single digit growth while maintaining our net sales expectation of flat to low single digit growth in fiscal 26,” said David Maura, Chairman and Chief Executive Officer of Spectrum Brands. Mr. Maura continued, “On the strategic front, following quarter close, we entered into a partnership with Oaktree Capital Management on our Home & Personal Care business. The transaction includes a strategic $127 million cash investment from Oaktree Capital in the form of preferred equity and debt, and we will continue to own approximately 73% of the Appliances business. Upon closing, which is expected to occur later this month, the HPC subsidiaries will be designated as unrestricted subsidiaries with their own capital structure that is non-recourse to Spectrum Brands Holdings. We believe that a partnership with Oaktree Capital, who has a strong track record in disciplined capital allocation, validates our vision for creating value in our Appliances business through both organic and inorganic growth initiatives. Importantly, this transaction represents a meaningful step in our previously announced strategy of separating the HPC business from our Pet and Home & Garden businesses.” Fiscal 2026 Second Quarter Highlights   Three Month Periods Ended         (in millions, except per share and %)   March 29, 2026   March 30, 2025   Variance Net sales   $ 708.9     $ 675.7     $ 33.2   4.9 % Gross profit     270.3       253.4       16.9   6.7 % Gross profit margin     38.1 %     37.5 %     60 bps Operating income     43.5       19.5       24.0   123.1 % Net income from continuing operations     22.5       1.8       20.7   n/m   Net income from continuing operations margin     3.2 %     0.3 %     290 bps Diluted earnings per share from continuing operations   $ 0.96     $ 0.06     $ 0.90   n/m   Non-GAAP Operating Metrics                 Adjusted EBITDA from continuing operations   $ 84.0     $ 71.3       12.7   17.8 % Adjusted EBITDA margin     11.8 %     10.6 %     120 bps Adjusted EPS from continuing operations   $ 1.25     $ 0.68     $ 0.57   83.8 % Net sales increased 4.9% with an increase in organic net sales of 1.5%, which excludes the impact of $22.9 million of favorable foreign exchange rates. The net sales increase was primarily due to strong performance in Global Pet Care and Home and Garden with market share gains across key brands. External factors including favorable weather and strategic order accelerations by certain retailers also contributed. This was partially offset by consumer demand softness in Home and Personal Care across both North America and Europe. Gross profit and margin increased driven by pricing, cost improvement actions, and favorable foreign exchange partially offset by higher trade spend and higher tariff cost. Operating income increased due to the increase in gross profit and lower operating expenses. Net income from continuing operations and diluted earnings per share increased driven by higher operating income. Diluted earnings per share also benefited from a lower share count. Adjusted EBITDA increased 17.8% and adjusted EBITDA margin increased 120 basis points driven by improved gross margins. Adjusted diluted EPS increased to $1.25 due to higher adjusted EBITDA and a reduction to shares outstanding. Fiscal 2026 Second Quarter Segment Level Data Global Pet Care (GPC)   Three Month Periods Ended         (in millions, except %)   March 29, 2026   March 30, 2025   Variance Net sales   $ 299.3     $ 269.2     $ 30.1   11.2 % Adjusted EBITDA     56.8       50.0       6.8   13.6 % Adjusted EBITDA margin     19.0 %     18.6 %     40 bps Net sales increased 11.2%. Excluding favorable foreign currency impacts, organic net sales increased 7.6%. Reported net sales in Companion Animal increased low double digits while sales in Aquatics increased mid single digits. North American net sales increased primarily driven by market share gains across Companion Animal brands and E-commerce channel strength. Organic net sales in EMEA increased across both categories due to continued brand strength and expanded distribution as well as a strategic acceleration of orders by certain retailers in advance of the SAP S4/HANA ERP implementation. Adjusted EBITDA of $56.8 million increased from $50.0 million in the prior year, and adjusted EBITDA margins were 19.0% compared to 18.6% in the prior year. The increase in adjusted EBITDA and margin is due to higher sales volume, pricing and cost improvement actions partially offset by higher tariff cost and additional trade and investment spend. Home & Garden (H&G)   Three Month Periods Ended         (in millions, except %)   March 29, 2026   March 30, 2025   Variance Net sales   $ 169.5     $ 152.3     $ 17.2   11.3 % Adjusted EBITDA     34.8       26.7       8.1   30.3 % Adjusted EBITDA margin     20.5 %     17.5 %     300 bps Net sales increased 11.3% and organic net sales increased 11.2% due to favorable weather conditions positively impacting POS and retailer order patterns, with above-market growth across key brands. Adjusted EBITDA of $34.8 million increased from $26.7 million in the prior year and adjusted EBITDA margins of 20.5% increased from 17.5% in the prior year primarily due to higher sales volume, productivity improvements and operational efficiencies partially offset by higher trade spend and unfavorable mix. Home & Personal Care (HPC)   Three Month Periods Ended         (in millions, except %)   March 29, 2026   March 30, 2025   Variance Net sales   $ 240.1     $ 254.2     $ (14.1 )   (5.5 )% Adjusted EBITDA     8.1       7.3       0.8     11.0 % Adjusted EBITDA margin     3.4 %     2.9 %     50 bps Net sales decreased 5.5%. Excluding favorable foreign currency impacts, organic net sales decreased 10.7%. Reported net sales in Personal Care were down low single digits and net sales in Home Appliances were down high single digits. Excluding the favorable impact of foreign currency, organic net sales in EMEA declined across both Home Appliances and Personal Care, impacted by elevated levels of inventory at a key retailer following soft consumer demand amid increased competition. LATAM organic net sales increased mid single digits due to sustained growth in Personal Care. North American net sales percent declined in the mid teens, primarily driven by lower volumes in light of increased product cost from higher tariffs and customer inventory management actions to address pockets of excess inventory. Adjusted EBITDA was $8.1 million compared to $7.3 million in the prior year, and adjusted EBITDA margins increased to 3.4% compared to 2.9% last year, driven by pricing, reduced investment spend, cost improvement initiatives and favorable foreign exchange partially offset by lower volumes and higher tariff costs. Liquidity and Debt As of the end of the quarter, the Company had a cash balance of $125.1 million and total liquidity of $595.9 million, including undrawn capacity on its cash flow revolver of $470.8 million. The Company also had $599.7 million of debt outstanding, with $24.0 million of outstanding borrowings on the revolver, senior unsecured notes of $496.1 million and finance leases of $79.6 million. The Company ended the quarter with net debt of $474.6 million. Fiscal 2026 Earnings Framework The Company expects to deliver flat to low single digit growth in reported net sales in fiscal 2026. Fiscal 2026 adjusted EBITDA is expected to increase by low single digits. Adjusted free cash flow is expected to be approximately 50% of adjusted EBITDA. The Company continues to target a long-term net leverage ratio of 2.0 - 2.5 times. Conference Call/Webcast Scheduled for 9:00 A.M. Eastern Time Today Spectrum Brands will host an earnings conference call and webcast at 9:00 a.m. Eastern Time today, May 7, 2026. The live webcast and related presentation slides will be available by visiting the Event Calendar page in the Investor Relations section of Spectrum Brands' website at www.spectrumbrands.com. Participants may register here. Instructions will be provided to ensure the necessary audio applications are downloaded and installed. Users can obtain these at no charge. A replay of the live broadcast will be accessible through the Event Calendar page in the Investor Relations section of the Company’s website. About Spectrum Brands Holdings, Inc. Spectrum Brands is a home-essentials company with a mission to make living better at home. We focus on delivering innovative products and solutions to consumers for use in and around the home through our trusted brands. We are a leading supplier of specialty pet supplies, lawn and garden and home pest control products, personal insect repellents, shaving and grooming products, personal care products, and small household appliances. Helping to meet the needs of consumers worldwide, we offer a broad portfolio of market-leading, well-known and widely trusted brands including Tetra®, DreamBone®, SmartBones®, Nature’s Miracle®, 8-in-1®, FURminator®, Healthy-Hide®, Good Boy®, Meowee!®, OmegaOne®, Spectracide®, Cutter®, Repel®, Hot Shot®, Rejuvenate®, Black Flag®, Liquid Fence®, Remington®, George Foreman®, Russell Hobbs®, Black + Decker®, PowerXL®, Emeril Lagasse®, and Copper Chef®. For more information, please visit www.spectrumbrands.com. Spectrum Brands – A Home Essentials Company™ Non-GAAP Measurements Our consolidated results contain non-GAAP metrics such as organic net sales, adjusted EBITDA, adjusted EBITDA margin, adjusted EPS and adjusted Free Cash Flow. While we believe organic net sales and adjusted EBITDA, adjusted EBITDA margin, adjusted EPS and adjusted Free Cash Flow are useful supplemental information, such adjusted results are not intended to replace our financial results in accordance with Accounting Principles Generally Accepted in the United States (“GAAP”) and should be read in conjunction with those GAAP results. Organic Net Sales - We define organic net sales as net sales excluding the effect of changes in foreign currency exchange rates and impact from acquisitions (where applicable). We believe this non-GAAP measure provides useful information to investors because it reflects regional and operating segment performance from our activities without the effect of changes in currency exchange rates and acquisitions. We use organic net sales as one measure to monitor and evaluate our regional and segment performance. Organic growth is calculated by comparing organic net sales to net sales in the prior year. The effect of changes in currency exchange rates is determined by translating the current period net sales using the currency exchange rates that were in effect during the prior comparative period. Net sales are attributed to the geographic regions based on the country of destination. We exclude net sales from acquired businesses in the current year for which there are no comparable sales in the prior period. Adjusted EBITDA and Adjusted EBITDA Margin - Adjusted EBITDA and adjusted EBITDA margin are non-GAAP metrics used by management, which we believe are useful to investors to measure the operational strength and performance of our business. These metrics provide investors additional information about our operating profitability for certain non-cash items, non-routine items we do not expect to continue at the same level in the future, as well as other items not core to our continuing operations. By providing these measures, together with a reconciliation of the most directly comparable GAAP measure, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives, as securities analysts and other interested parties use such calculations as a measure of financial performance and debt service capabilities, and they are regularly used by management and our Board of Directors for internal purposes in evaluating our business performance, making budgeting decisions, and comparing our performance against other peer companies using similar measures. They facilitate comparisons between peer companies since interest, taxes, depreciation, and amortization can differ greatly between organizations as a result of differing capital structures and tax strategies. Adjusted EBITDA is also used for determining compliance with the Company’s debt covenants. EBITDA is calculated by excluding the Company’s income tax expense, interest expense, depreciation expense and amortization expense (from intangible assets) from net income from continuing operations. Adjusted EBITDA also excludes certain non-cash adjustments including share based compensation; impairment charges on property, plant and equipment, right of use lease assets, and goodwill and other intangible assets; gain or loss from the early extinguishment of debt; and purchase accounting adjustments recognized in income subsequent to an acquisition attributable to the step-up in value on assets acquired. Additionally, the Company will further recognize adjustments from adjusted EBITDA for other costs, gains and losses that are considered significant, non-recurring, or otherwise not supporting the continuing operations and revenue generating activity of the segment or Company, including but not limited to, exit and disposal activities, or incremental costs associated with strategic transactions, restructuring and optimization initiatives such as the acquisition or divestiture of a business, related integration or separation costs, or the development and implementation of strategies to optimize or restructure the Company and its operations. Adjusted EBITDA margin is adjusted EBITDA as a percentage of reported net sales. Adjusted EPS - Management uses adjusted EPS as one means of analyzing the Company’s current and future financial performance and identifying trends in its financial condition and results of operations. Management believes that adjusted EPS is a useful measure for providing further insight into our operating performance because it eliminates the effects of certain items that are not comparable from one period to the next. By providing these measures, together with a reconciliation of the most directly comparable GAAP measure, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives, as securities analysts and other interested parties use such calculations as a measure of financial performance, and they are regularly used by management and our Board of Directors for internal purposes in evaluating our business performance, making budgeting decisions, and comparing our performance against other peer companies using similar measures. Adjusted EPS is calculated by excluding the effect of certain adjustments from diluted EPS, including non-cash adjustments including impairment charges on property, plant and equipment, operating and finance lease assets, and goodwill and other intangible assets; gain or loss from the early extinguishment of debt; and purchase accounting adjustments recognized in income subsequent to an acquisition attributable to the step-up in value on assets acquired. Additionally, the Company will further recognize adjustments from diluted EPS for other costs, gains and losses that are considered significant, non-recurring, or otherwise not supporting the continuing operations and revenue generating activity of the segment or Company, including but not limited to, exit and disposal activities, or incremental costs associated with strategic transactions, restructuring and optimization initiatives such as the acquisition or divestiture of a business, related integration or separation costs, or the development and implementation of strategies to optimize or restructure the Company and its operations. Adjusted EPS is further impacted by the effect on the income tax provision from adjustments made to reported diluted EPS. Adjusted Free Cash Flow - Management uses adjusted free cash flow as a means of analyzing the Company's operating results and evaluating cash flow generation from its revenue generating activities, excluding certain cash flow activity associated with strategic transactions and other costs and receipts attributable to non-recurring events. Management believes that adjusted free cash flow is a useful measure in understanding cash flow conversion associated with the Company's operations that is available for acquisitions and other investments, service of debt, dividends and share repurchases and meetings its working capital requirements. By providing these measures, together with a reconciliation of the most directly comparable GAAP measure, we believe we are enhancing investors' understanding of our business, as well as assisting investors in evaluating how well we are generating cash flow from operations, as securities analysts and other interested parties use such calculations as a measure of financial performance, and they are regularly used by management and our Board of Directors for internal purposes in evaluating our business performance, making budgeting decisions, and comparing our performance against other peer companies using similar measures. Free cash flow is calculated by excluding capital expenditures from cash flow provided (used) by operating activities and further adjusted for non-operating strategic transaction costs and other non-recurring or unusual cash flow activity that would otherwise be considered operating cash flow under US GAAP. Cash flow conversion is adjusted free cash flow as a percentage of adjusted EBITDA. The Company provides this information to investors to assist in comparisons of past, present and future operating results and to assist in highlighting the results of on-going operations. While the Company’s management believes that non-GAAP measurements are useful supplemental information, such adjusted results are not intended to replace the Company’s GAAP financial results and should be read in conjunction with those GAAP results. Other Supplemental Information has been provided to demonstrate reconciliation of non-GAAP measurements discussed above to most relevant GAAP financial measurements. Forward-Looking Statements We have made or implied certain forward-looking statements in this document. Statements or expectations regarding our business and M&A strategy, macroeconomic headwinds, U.S. trade policy, our use of share repurchase plans, ERP platform transformation and productivity expectations, evaluating acquisition targets and entering into strategic partnerships, earnings framework, future operations and operating model, financial condition, estimated revenues, projected costs, inventory management, supply chain and supply chain relocation efforts, earnings power, project synergies, prospects, plans and strategic objectives of management, the geopolitical environment, and information concerning expected actions of third parties are forward-looking statements. When used in this report, the words future, anticipate, pro forma, seek, intend, plan, envision, estimate, believe, belief, expect, project, forecast, outlook, earnings framework, goal, target, could, would, will, can, should, may and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. Because these forward-looking statements are based upon our current expectations of future events and projections and are subject to a number of risks and uncertainties, many of which are beyond our control and some of which may change rapidly, actual results or outcomes may differ materially from those expressed or implied herein, and you should not place undue reliance on these statements. Important factors that could cause our actual results to differ materially from those expressed or implied herein include, without limitation: (1) the economic, social and political conditions, civil unrest, terrorist attacks, acts of war, natural disasters or other public health concerns in the U.S. or the international markets that impact our business, customers, employees (including our ability to retain and attract key personnel), manufacturing facilities, suppliers, capital markets or financial condition and results of operations, which may amplify the other risks and uncertainties we face; (2) the number of local, regional and global uncertainties could negatively impact our business; (3) the negative effect of the Russia-Ukraine war, the Israel-Hamas war, and the U.S.-Iran war and their impact on those regions and surrounding regions, including the Middle East and disruptions to international trade, supply chain and shipping routes and pricing, and on our operations and those operations of our customers, suppliers and other stakeholders; (4) our reliance on third-party partners, suppliers and distributors that are outside our control to achieve our business objectives; (5) the impact of government intervention with or influence on the operations of our suppliers, including in China; (6) the impact of expenses resulting from the implementation of new business strategies, divestitures or current and proposed restructuring and optimization activities, including changes in inventory and distribution center changes which are complicated and involve coordination among a number of stakeholders, including our suppliers and transportation and logistics handlers; (7) the impact of our indebtedness and financial leverage position on our business, financial condition and results of operations; (8) the impact of restrictions in our debt instruments on our ability to operate our business, finance our capital needs or pursue or expand business strategies; (9) any failure to comply with financial covenants and other provisions and restrictions of our debt instruments; (10) the effects of interest rate fluctuations or general economic conditions, including the impact of, uncertainty around and changes to, tariffs and trade policies, including the tariffs and trade agreements announced by the Trump Administration in 2025, the tariff refunds announced in 2026 and any further changes and that may be announced in the future, tariff mitigation efforts (including supply chain relocation efforts), inflation, recession or fears of a recession, depression or fears of a depression, labor costs and stock market volatility or monetary or fiscal policies in the countries where we do business; (11) the impact of fluctuations in transportation and shipment costs, fuel costs, commodity prices, costs or availability of raw materials or terms and conditions available from suppliers, including suppliers’ willingness to advance credit; (12) changes in foreign currency exchange rates that may impact our purchasing power, pricing and margin realization within international jurisdictions; (13) the loss of, significant reduction in, or dependence upon, sales to any significant retail customer(s), including their changes in retail inventory levels and management thereof; (14) competitive promotional activity or spending by competitors, or price reductions by competitors; (15) the introduction of new product features or technological developments by competitors and/or the development of new competitors or competitive brands, including via private label manufacturers; (16) changes in consumer spending preferences, shopping trends, and demand for our products, particularly in light of economic stress; (17) our ability to develop and successfully introduce new products, protect intellectual property and avoid infringing the intellectual property of third parties; (18) our ability to successfully identify, implement, achieve and sustain productivity improvements, cost efficiencies (including at our manufacturing and distribution operations) and cost savings; (19) the seasonal nature of sales of certain of our products; (20) the impact weather conditions may have on the sales of certain of our products; (21) our ability to respond to unusual weather activity, natural disasters and pandemics; (22) the cost and effect of unanticipated legal, tax or regulatory proceedings or new laws or regulations (including environmental, public health and consumer protection regulations); (23) our ability to use social media platforms as effective marketing tools and to manage negative commentary regarding us, and the impact of rules governing the use of e-commerce and social media; (24) public perception regarding the safety of products that we manufacture and sell, including the potential for environmental liabilities, product liability claims, litigation and other claims related to products manufactured by us and third parties; (25) the impact of existing, pending or threatened litigation, government regulation or other requirements or operating standards applicable to our business; (26) the impact of cybersecurity breaches or our actual or perceived failure to protect company and personal data, including our failure to comply with new and increasingly complex global data privacy regulations; (27) changes in accounting policies applicable to our business; (28) our discretion to adopt, conduct, suspend or discontinue any share repurchase program or conduct any debt repayments, redemptions, repurchases or refinancing transactions (including our discretion to conduct purchases or repurchases, if any, in a variety of manners including open-market purchases, privately negotiated transactions, tender offers, redemptions, or otherwise); (29) our ability to utilize net operating loss carry-forwards to offset tax liabilities; (30) our ability to separate the Company’s HPC business and create an independent Global Appliances business on expected terms, and within the anticipated time period, or at all, and to realize the potential benefits of such business; (31) our ability to create a pure play consumer products company composed of our GPC and H&G businesses and to realize the expected benefits of such creation, and within the anticipated time period, or at all; (32) our ability to successfully implement and realize the benefits of acquisitions or dispositions and the impact of any such transactions on our financial performance; (33) the impact of actions taken by significant shareholders; (34) the unanticipated loss of key members of senior management and the transition of new members of our management teams to their new roles; and (35) the other risk factors set forth in Spectrum Brands Holdings, Inc. 2025 Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and the other filings within the U.S. Securities and Exchange Commission (the "SEC"). Some of the above-mentioned factors are described in further detail in the sections entitled Risk Factors in our annual and quarterly reports (including this report), as applicable. You should assume the information appearing in this report is accurate only as of the date hereof, or as otherwise specified, as our business, financial condition, results of operations and prospects may have changed since that date. Except as required by applicable law, including the securities laws of the U.S. and the rules and regulations of the SEC, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, to reflect actual results or changes in factors or assumptions affecting such forward-looking statements. SPECTRUM BRANDS HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)     Three Month Periods Ended   Six Month Periods Ended (in millions, except per share amounts)   March 29, 2026   March 30, 2025   March 29, 2026   March 30, 2025 Net sales   $ 708.9     $ 675.7     $ 1,385.9     $ 1,375.9   Cost of goods sold     438.6       422.3       874.0       864.7   Gross profit     270.3       253.4       511.9       511.2   Selling, general & administrative     226.8       218.2       441.3       431.3   Impairment of intangible assets     —       15.7       —       15.7   Total operating expenses     226.8       233.9       441.3       447.0   Operating income     43.5       19.5       70.6       64.2   Interest expense     7.3       7.5       14.1       13.7   Interest income     (0.5 )     (0.4 )     (1.1 )     (3.0 ) Other non-operating (income) expense, net     (0.1 )     1.0       0.3       5.7   Income from continuing operations before income taxes     36.8       11.4       57.3       47.8   Income tax expense     14.3       9.6       5.4       21.4   Net income from continuing operations     22.5       1.8       51.9       26.4   Loss from discontinued operations, net of tax     (0.4 )     (0.6 )     (1.4 )     (1.4 ) Net income     22.1       1.2       50.5       25.0   Net income from continuing operations attributable to non-controlling interest     —       0.3       —       0.6   Net income attributable to controlling interest   $ 22.1     $ 0.9     $ 50.5     $ 24.4   Amounts attributable to controlling interest                 Net income from continuing operations attributable to controlling interest   $ 22.5     $ 1.5     $ 51.9     $ 25.8   Loss from discontinued operations attributable to controlling interest, net of tax     (0.4 )     (0.6 )     (1.4 )     (1.4 ) Net income attributable to controlling interest   $ 22.1     $ 0.9     $ 50.5     $ 24.4   Earnings Per Share                 Basic earnings per share from continuing operations   $ 0.97     $ 0.06     $ 2.22     $ 0.96   Basic earnings per share from discontinued operations     (0.02 )     (0.03 )     (0.06 )     (0.06 ) Basic earnings per share   $ 0.95     $ 0.03     $ 2.16     $ 0.90   Diluted earnings per share from continuing operations   $ 0.96     $ 0.06     $ 2.22     $ 0.95   Diluted earnings per share from discontinued operations     (0.02 )     (0.03 )     (0.06 )     (0.05 ) Diluted earnings per share   $ 0.94     $ 0.03     $ 2.16     $ 0.90   Weighted Average Shares Outstanding                 Basic     23.2       26.1       23.3       27.0   Diluted     23.3       26.2       23.4       27.1   SPECTRUM BRANDS HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited)     Six Month Periods Ended (in millions)   March 29, 2026   March 30, 2025 Cash flows from operating activities         Net cash provided (used) by operating activities from continuing operations   $ 77.9     $ (48.6 ) Net cash used by operating activities from discontinued operations     (0.3 )     (0.7 ) Net cash provided (used) by operating activities     77.6       (49.3 ) Cash flows from investing activities         Purchases of property, plant and equipment     (17.4 )     (15.1 ) Other investing activity     —       (0.1 ) Net cash used by investing activities     (17.4 )     (15.2 ) Cash flows from financing activities         Payment of debt and debt premium     (6.2 )     (5.1 ) Proceeds from issuance of debt     24.0       83.0   Payment of debt issuance costs     —       (0.1 ) Dividends paid to shareholders     (21.8 )     (25.3 ) Dividends paid by subsidiary to non-controlling interest     —       (0.7 ) Treasury stock purchases     (42.3 )     (232.8 ) Excise tax paid on net share repurchases     (3.2 )     (9.7 ) Share based award tax withholding payments, net of proceeds upon vesting     (8.5 )     (4.4 ) Other financing activity     —       0.1   Net cash used by financing activities     (58.0 )     (195.0 ) Effect of exchange rate changes on cash and cash equivalents     (0.8 )     (12.8 ) Net change in cash, cash equivalents and restricted cash     1.4       (272.3 ) Cash, cash equivalents, and restricted cash, beginning of period     127.2       370.5   Cash, cash equivalents, and restricted cash, end of period   $ 128.6     $ 98.2   SPECTRUM BRANDS HOLDINGS, INC. CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited)   (in millions)   March 29, 2026   September 30,
2025 Assets         Cash and cash equivalents   $ 125.1   $ 123.6 Trade receivables, net     560.5     521.7 Other receivables     58.9     50.9 Inventories     487.1     446.1 Prepaid expenses and other current assets     40.3     41.9 Total current assets     1,271.9     1,184.2 Property, plant and equipment, net     242.5     255.0 Operating lease assets     118.6     73.5 Deferred charges and other     61.2     62.5 Goodwill     865.4     866.8 Intangible assets, net     914.3     937.6 Total assets   $ 3,473.9   $ 3,379.6 Liabilities and Shareholders' Equity         Current portion of long-term debt   $ 12.0   $ 11.7 Accounts payable     348.7     283.7 Accrued wages and salaries     42.8     50.2 Accrued interest     4.9     4.5 Income tax payable     17.2     21.2 Short-term operating lease liabilities     20.9     31.8 Other current liabilities     107.8     120.1 Total current liabilities     554.3     523.2 Long-term debt, net of current portion     575.9     556.2 Long-term operating lease liabilities     116.7     54.5 Deferred income taxes     136.8     136.6 Uncertain tax benefit obligation     171.9     180.3 Other long-term liabilities     17.6     19.1 Total liabilities     1,573.2     1,469.9 Shareholders' equity     1,900.7     1,909.7 Total liabilities and shareholders' equity   $ 3,473.9   $ 3,379.6 SPECTRUM BRANDS HOLDINGS, INC. OTHER SUPPLEMENTAL INFORMATION (Unaudited)   NET SALES AND ORGANIC NET SALES   The following is a summary of net sales by segment for the three and six month periods ended March 29, 2026 and March 30, 2025, respectively.   (in millions, except %)   Three Month Periods Ended           Six Month Periods Ended           March 29, 2026   March 30, 2025   Variance   March 29, 2026   March 30, 2025   Variance GPC   $ 299.3   $ 269.2   $ 30.1     11.2 %   $ 580.9   $ 529.2   $ 51.7     9.8 % H&G     169.5     152.3     17.2     11.3 %     243.4     244.4     (1.0 )   (0.4 )% HPC     240.1     254.2     (14.1 )   (5.5 )%     561.6     602.3     (40.7 )   (6.8 )% Net Sales   $ 708.9   $ 675.7     33.2     4.9 %   $ 1,385.9   $ 1,375.9     10.0     0.7 % The following is a reconciliation of reported sales to organic sales for the three and six month periods ended March 29, 2026 compared to reported net sales for the three and six month periods ended March 30, 2025, respectively.                     March 29, 2026   Net Sales March 30, 2025         Three Month Periods Ended (in millions, except %)   Net Sales   Effect of Changes in Foreign Currency   Organic Net Sales     Variance GPC   $ 299.3   $ (9.7 )   $ 289.6   $ 269.2   $ 20.4     7.6 % H&G     169.5     (0.1 )     169.4     152.3     17.1     11.2 % HPC     240.1     (13.1 )     227.0     254.2     (27.2 )   (10.7 )% Total   $ 708.9   $ (22.9 )   $ 686.0   $ 675.7     10.3     1.5 %                               March 29, 2026   Net Sales March 30, 2025         Six Month Periods Ended (in millions, except %)   Net Sales   Effect of Changes in Foreign Currency   Organic Net Sales     Variance GPC   $ 580.9   $ (16.1 )   $ 564.8   $ 529.2   $ 35.6     6.7 % H&G     243.4     (0.1 )     243.3     244.4     (1.1 )   (0.5 )% HPC     561.6     (25.2 )     536.4     602.3     (65.9 )   (10.9 )% Total   $ 1,385.9   $ (41.4 )   $ 1,344.5   $ 1,375.9     (31.4 )   (2.3 )%                           SPECTRUM BRANDS HOLDINGS, INC. OTHER SUPPLEMENTAL INFORMATION (Unaudited)   ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN   The following is a reconciliation of reported net income from continuing operations to adjusted EBITDA and adjusted EBITDA margin for the three and six month periods ended March 29, 2026 and March 30, 2025, respectively.               Three Month Periods Ended   Six Month Periods Ended (in millions, except %)   March 29, 2026   March 30, 2025   March 29, 2026   March 30, 2025 Net income from continuing operations   $ 22.5     $ 1.8       51.9       26.4   Income tax expense     14.3       9.6       5.4       21.4   Interest expense     7.3       7.5       14.1       13.7   Depreciation     13.9       14.0       29.5       28.0   Amortization     10.3       10.5       20.5       21.0   Share based compensation     6.0       5.2       10.3       9.9   Non-cash impairment charges     —       15.7       0.5       15.7   Exit and disposal costs     3.8       3.5       4.9       4.0   Global ERP transformation1     2.4       2.3       4.8       4.8   Litigation costs2     0.7       0.8       1.6       1.6   Other3     2.8       0.4       3.1       2.6   Adjusted EBITDA   $ 84.0     $ 71.3     $ 146.6     $ 149.1   Net sales   $ 708.9     $ 675.7     $ 1,385.9     $ 1,375.9   Net income from continuing operations margin     3.2 %     0.3 %     3.7 %     1.9 % Adjusted EBITDA margin     11.8 %     10.6 %     10.6 %     10.8 % ____________________ 1 Costs attributable to a multi-year transformation project to upgrade and implement our enterprise-wide operating systems to SAP S/4 HANA on a global basis, including project management and professional services for planning, design, and business process review that do not qualify as software configuration and implementation costs recognized as capital expenditures or deferred costs under applicable accounting principles. The Company had recently extended the project to include its HPC segment and anticipates costs to be incurred through further deployments through calendar year 2026. 2 Litigation costs are associated with the Company's cost to facilitate various ongoing litigation matters associated with the Tristar Business acquisition in Fiscal 2023, previously disclosed in our 2025 Annual Report. Such costs are anticipated to be incurred until such litigation matters have been resolved. 3 Other is attributable to other project costs associated with previous strategic separation initiatives and distribution center transitions, plus certain non-recurring key executive severance costs in the prior year. SPECTRUM BRANDS HOLDINGS, INC. OTHER SUPPLEMENTAL INFORMATION (Unaudited)   ADJUSTED DILUTED EPS   The following is a reconciliation of reported diluted EPS from continuing operations to adjusted diluted EPS from continuing operations for the three and six month periods ended March 29, 2026 and March 30, 2025, respectively.       Three Month Periods Ended   Six Month Periods Ended (per share amounts)   March 29, 2026   March 30, 2025   March 29, 2026   March 30, 2025 Diluted EPS from continuing operations   $ 0.96     $ 0.06     $ 2.22     $ 0.95   Adjustments:                 Non-cash impairment charges     —       0.60       0.02       0.58   Exit and disposal costs     0.16       0.14       0.21       0.15   Global ERP transformation1     0.11       0.09       0.20       0.18   Litigation costs2     0.03       0.03       0.07       0.05   Other3     0.11       0.01       0.13       0.10   Pre-tax adjustments     0.41       0.87       0.63       1.06   Tax impact of adjustments4     (0.12 )     (0.25 )     (0.20 )     (0.30 ) Net adjustments     0.29       0.62       0.43       0.76   Diluted EPS from continuing operations, as adjusted   $ 1.25     $ 0.68     $ 2.65     $ 1.71   ____________________ 1 Costs attributable to a multi-year transformation project to upgrade and implement our enterprise-wide operating systems to SAP S/4 HANA on a global basis, including project management and professional services for planning, design, and business process review that do not qualify as software configuration and implementation costs recognized as capital expenditures or deferred costs under applicable accounting principles. The Company had recently extended the project to include its HPC segment and anticipates costs to be incurred through further deployments through calendar year 2026. 2 Litigation costs are associated with the Company's cost to facilitate various ongoing litigation matters associated with the Tristar Business acquisition in Fiscal 2023, previously disclosed in our 2025 Annual Report. Such costs are anticipated to be incurred until such litigation matters have been resolved. 3 Other is attributable to other project costs associated with previous strategic separation initiatives and distribution center transitions, plus certain non-recurring key executive severance costs in the prior year. 4 Income tax adjustment reflects the impact on the income tax provision from the adjustments to diluted EPS. SPECTRUM BRANDS HOLDINGS, INC. OTHER SUPPLEMENTAL INFORMATION (Unaudited)   ADJUSTED FREE CASH FLOW   The following is a reconciliation of reported operating cash flow from continuing operations to adjusted free cash flow for the six month periods ended March 29, 2026 and March 30, 2025, respectively.       Six Month Periods Ended (in millions)   March 29, 2026   March 30, 2025 Net cash provided by operating activities from continuing operations   $ 77.9     $ (48.6 ) Purchases of property, plant and equipment     (17.4 )     (15.1 ) Free cash flow     60.5       (63.7 ) Deal transaction costs1     —       5.9   Other2     0.1       (0.6 ) Adjusted free cash flow   $ 60.6     $ (58.4 ) ____________________ 1 Incremental cash flow attributable to certain strategic transactions including previous separation initiatives. 2 Other is attributable to restricted cash balances which are considered a component of operating cash flow under US GAAP.   View source version on businesswire.com: https://www.businesswire.com/news/home/20260506157622/en/ Investor/Media Contact:
Jen Schultz 314-253-5923 Original: Spectrum Brands Holdings Reports Fiscal 2026 Second Quarter Results

Spectrum Brands Holdings Declares Quarterly Common Stock Dividend of $0.47 Per ShareMay 5, 2026 5:30 PM
Business Wire Spectrum Brands Holdings, Inc. (NYSE: SPB) announced that its Board of Directors today declared a quarterly dividend of $0.47 per share on the Common Stock of the Company. The dividend is payable on June 16, 2026 to shareholders of record as of May 26, 2026. About Spectrum Brands Holdings, Inc. Spectrum Brands is a home-essentials company with a mission to make living better at home. We focus on delivering innovative products and solutions to consumers for use in and around the home through our trusted brands. We are a leading supplier of specialty pet supplies, lawn and garden and home pest control products, personal insect repellents, shaving and grooming products, personal care products, and small household appliances. Helping to meet the needs of consumers worldwide, we offer a broad portfolio of market-leading, well-known and widely trusted brands including Tetra®, DreamBone®, SmartBones®, Nature’s Miracle®, 8-in-1®, FURminator®, Healthy-Hide®, Good Boy®, Meowee!®, OmegaOne®, Spectracide®, Cutter®, Repel®, Hot Shot®, Rejuvenate®, Black Flag®, Liquid Fence®, Remington®, George Foreman®, Russell Hobbs®, BLACK + DECKER®, PowerXL®, Emeril Lagasse®, and Copper Chef®. For more information, please visit www.spectrumbrands.com. Spectrum Brands – A Home Essentials Company™. View source version on businesswire.com: https://www.businesswire.com/news/home/20260504700758/en/ Investor/Media Contact: Jen Schultz
314-253-5923 Original: Spectrum Brands Holdings Declares Quarterly Common Stock Dividend of $0.47 Per Share

Spectrum Brands Holdings to Report Fiscal 2026 Second Quarter Financial Results and Hold Conference Call and Webcast on May 7, 2026April 23, 2026 6:30 AM
Business Wire
Spectrum Brands Holdings, Inc. (NYSE: SPB; “Spectrum Brands”), a leading global branded consumer products and home essentials company focused on driving innovation and providing exceptional customer service, announced today it will release its fiscal 2026 second quarter financial results for the period ended March 29, 2026 before the markets open on Thursday, May 7, 2026.


Spectrum Brands will conduct a live conference call and live webcast on May 7, 2026 at 9:00 a.m. Eastern Time (8:00 a.m. Central Time), which will be hosted by David Maura, Executive Chairman and Chief Executive Officer, and Faisal Qadir, Executive Vice President and Chief Financial Officer.


The live webcast and related presentation slides will be available by visiting the Event Calendar page in the Investor Relations section of Spectrum Brands’ website at www.spectrumbrands.com. Participants may register for the call here. Instructions will be provided to ensure the necessary audio applications are downloaded and installed. Users can obtain these at no charge.


Following the call, a replay of the live broadcast also will be accessible through the Event Calendar page in the Investor Relations section of Spectrum Brands’ website.


About Spectrum Brands Holdings, Inc.


Spectrum Brands is a home-essentials company with a mission to make living better at home. We focus on delivering innovative products and solutions to consumers for use in and around the home through our trusted brands. We are a leading supplier of specialty pet supplies, lawn and garden and home pest control products, personal insect repellents, shaving and grooming products, personal care products, and small household appliances. Helping to meet the needs of consumers worldwide, we offer a broad portfolio of market-leading, well-known and widely trusted brands including Tetra®, DreamBone®, SmartBones®, Nature’s Miracle®, 8-in-1®, FURminator®, Healthy-Hide®, Good Boy®, Meowee!®, OmegaOne®, Spectracide®, Cutter®, Repel®, Hot Shot®, Rejuvenate®, Black Flag®, Liquid Fence®, Remington®, George Foreman®, Russell Hobbs®, BLACK + DECKER®, PowerXL®, Emeril Lagasse®, and Copper Chef®. For more information, please visit www.spectrumbrands.com. Spectrum Brands – A Home Essentials Company™.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260422585152/en/
Investor/Media Contact: Jen Schultz

314-253-5923


Original: Spectrum Brands Holdings to Report Fiscal 2026 Second Quarter Financial Results and Hold Conference Call and Webcast on May 7, 2026

Spectrum Brands Shares Climb After Q1 Earnings Strongly Beat ExpectationsFebruary 5, 2026 8:33 AM
IH Market News
Spectrum Brands Holdings, Inc. (NYSE:SPB) reported fiscal first-quarter results on Thursday that exceeded analyst profit forecasts, lifting its shares by more than 2% in premarket trading, despite ongoing pressure on consumer demand from broader macroeconomic conditions.The company posted adjusted earnings of $1.40 per share for the quarter ended December 28, 2025, significantly ahead of the analyst consensus of $0.76 per share. Revenue totalled $677 million, beating expectations of $668.88 million, although sales declined 3.3% from $700.2 million recorded in the same quarter last year. On an organic basis, net sales fell 6.0% when excluding favourable foreign exchange impacts.The decline in revenue was mainly linked to softer demand across several product categories and the effect of customers in the Home and Garden segment accelerating seasonal inventory purchases in the prior year. However, the company reported improved performance in its Global Pet Care division, where major Companion Animal brands returned to growth and outperformed broader market trends.“We are pleased with our results this quarter, particularly that our most profitable and largest Adjusted EBITDA contributing business, Global Pet Care, returned to growth,” said David Maura, Chairman and Chief Executive Officer. “Our Net Sales and Adjusted EBITDA exceeded expectations despite the ongoing macroeconomic challenges that continue to impact overall consumer demand.”Net income from continuing operations increased 19.5% to $29.4 million, compared with $24.6 million in the same period last year. Spectrum Brands generated operating cash flow of $67.7 million and adjusted free cash flow of $59.7 million during the quarter.By segment, Global Pet Care sales rose 8.3% to $281.6 million. Home & Garden sales declined 19.8% to $73.9 million, while Home & Personal Care revenue fell 7.6% to $321.5 million.Gross profit margin declined by 110 basis points to 35.7%, primarily reflecting lower sales volumes, increased trade spending and higher tariff-related costs. These pressures were partly offset by pricing initiatives, cost reduction measures and operational efficiency improvements.During the quarter, Spectrum Brands repurchased approximately 0.6 million shares for $36 million and announced a new $300 million share buyback authorisation. The company ended the period with net debt leverage of 1.65 times adjusted EBITDA.Management reaffirmed its fiscal 2026 outlook, forecasting net sales to remain flat or increase by low single-digit percentages, alongside low single-digit growth in adjusted EBITDA. The company also expects to convert roughly 50% of adjusted EBITDA into adjusted free cash flow.Spectrum Brands Holdings stock price

Original: Spectrum Brands Shares Climb After Q1 Earnings Strongly Beat Expectations

Spectrum Brands Holdings Reports Fiscal 2026 First Quarter ResultsFebruary 5, 2026 6:30 AM
Business Wire

First Quarter Net Sales Decreased 3.3% and Organic Net Sales Decreased 6.0%



First Quarter Net Income From Continuing Operations of $29.4 Million and Adjusted EBITDA of $62.6 Million



First Quarter Operating Cash Flow From Continuing Operations of $67.7 Million and Adjusted Free Cash Flow of $59.7 Million



Repurchased 0.6 Million Shares in Q1 for $36 Million; New $300 Million Share Repurchase Authorization Approved



Ended First Quarter with Net Debt Leverage of 1.65x Adjusted EBITDA



Reiterating Fiscal 2026 Framework, Continue to Expect Net Sales to be Flat to Up Low Single Digits, Low Single Digit Growth in Adjusted EBITDA, and Approximately 50% Conversion of Adjusted EBITDA to Adjusted Free Cash Flow



Spectrum Brands Holdings, Inc. (NYSE: SPB; “Spectrum Brands” or the “Company”), a leading global branded consumer products and home essentials company focused on driving innovation and providing exceptional customer service, today reported results from continuing operations for the first quarter of fiscal 2026 ended December 28, 2025.


"We are pleased with our results this quarter, particularly that our most profitable and largest Adjusted EBITDA contributing business, Global Pet Care, returned to growth. Our Net Sales and Adjusted EBITDA exceeded expectations despite the ongoing macroeconomic challenges that continue to impact overall consumer demand. These results reinforce the effectiveness of our strategic initiatives and validate our belief that the difficult, but necessary, steps we implemented in fiscal 2025 were indeed the right course of action. Looking forward, we will continue to remain disciplined in the execution of our strategy, understanding that significant work still lies ahead,” said David Maura, Chairman and Chief Executive Officer of Spectrum Brands.


Mr. Maura continued, "we remain confident that Global Pet Care and Home & Garden will return to growth this fiscal year while we continue to improve the fundamentals of our Home & Personal Care business, and deliver improved profitability across all three businesses. We are reiterating our earnings framework of flat to low single digit revenue growth and low single digit adjusted EBITDA growth in fiscal 26."


Mr. Maura concluded, "We continue to believe our strong balance sheet, positive cash flow, and low leverage are a competitive advantage in an evolving M&A landscape, and that we are uniquely positioned to act as the M&A partner of choice for high-quality, synergistic assets in our sector. We believe that we can accelerate long-term growth through strategic M&A while remaining diligent and disciplined in our evaluation of these opportunities.”


Fiscal 2026 First Quarter Highlights





 






Three Month Periods Ended






 






 






 






 








(in millions, except per share and %)






 






December 28, 2025






 






December 29, 2024






 






Variance








Net sales






 






$






677.0






 






 






$






700.2






 






 






$






(23.2






)






 






(3.3






)%








Gross profit






 






 






241.6






 






 






 






257.8






 






 






 






(16.2






)






 






(6.3






)%








Gross profit margin






 






 






35.7






%






 






 






36.8






%






 






 






(110






)






bps








Operating income






 






 






27.1






 






 






 






44.7






 






 






 






(17.6






)






 






(39.4






)%








Net income from continuing operations






 






 






29.4






 






 






 






24.6






 






 






 






4.8






 






 






19.5






%








Net income from continuing operations margin






 






 






4.3






%






 






 






3.5






%






 






 






80






 






bps








Diluted earnings per share from continuing operations






 






$






1.25






 






 






$






0.87






 






 






$






0.38






 






 






43.7






%








Non-GAAP Operating Metrics






 






 






 






 






 






 






 






 








Adjusted EBITDA from continuing operations






 






$






62.6






 






 






$






77.8






 






 






 






(15.2






)






 






(19.5






)%








Adjusted EBITDA margin






 






 






9.2






%






 






 






11.1






%






 






 






(190






)






bps








Adjusted EPS from continuing operations






 






$






1.40






 






 






$






1.02






 






 






$






0.38






 






 






37.3






%








Net sales decreased 3.3% with a decrease in organic net sales of 6.0%, which excludes the impact of $18.5 million of favorable foreign exchange rates. The net sales decline was primarily due to continued category demand softness and the impact of an accelerated seasonal inventory build by some Home and Garden customers in the prior year. This was partially offset by our Global Pet Care business returning to growth with our key Companion Animal brands outperforming the market while also benefiting from a softer prior-year comparison



Gross profit and margin decreased from lower volume, higher trade spend, and higher tariff cost, partially offset by pricing, cost improvement actions, operational efficiencies and favorable foreign exchange.



Operating income decreased due to the decline in gross profit.



Net income from continuing operations and diluted earnings per share increased driven by lower taxes from a one-time tax benefit and lower share count partially offset by lower operating income.



Adjusted EBITDA decreased 19.5% and adjusted EBITDA margin decreased 190 basis points driven by lower volume and reduced gross margins, primarily due to tariff related disruptions.



Adjusted diluted EPS increased to $1.40 due to lower income tax and a reduction in outstanding shares, partially offset by lower adjusted EBITDA.



Fiscal 2026 First Quarter Segment Level Data


Global Pet Care (GPC)





 






Three Month Periods Ended






 






 






 






 








(in millions, except %)






 






December 28, 2025






 






December 29, 2024






 






Variance








Net sales






 






$






281.6






 






 






$






260.0






 






 






$






21.6






 






 






8.3






%








Adjusted EBITDA






 






 






49.0






 






 






 






51.5






 






 






 






(2.5






)






 






(4.9






)%








Adjusted EBITDA margin






 






 






17.4






%






 






 






19.8






%






 






 






(240






)






bps







Net sales increased 8.3%. Excluding favorable foreign currency impacts, organic net sales increased 5.8%. Sales in Companion Animal increased high single digits while sales in Aquatics increased low double digits. North American net sales in both categories were favorably impacted by a strategic shift of orders by retailers in the prior fiscal year. Excluding the favorable impact of foreign currency, organic net sales in the EMEA Companion Animal category declined. This decrease was primarily due to the timing of orders in Dog and Cat Food, which was affected by a new product launch in the prior fiscal year. This was partially offset by the continued strength of the GoodBoy brand. Aquatics organic net sales increased in EMEA driven by Tetra brand strength and a softer prior year comparison.


Adjusted EBITDA of $49.0 million decreased from $51.5 million in the prior year, and adjusted EBITDA margins were 17.4% compared to 19.8% in the prior year. The decline in adjusted EBITDA is due to higher tariff cost, inflation, and additional trade and investment spend partially offset by higher sales volume, pricing and cost improvement actions.


Home & Garden (H&G)





 






Three Month Periods Ended






 






 






 






 








(in millions, except %)






 






December 28, 2025






 






December 29, 2024






 






Variance








Net sales






 






$






73.9






 






 






$






92.1






 






 






$






(18.2






)






 






(19.8






)%








Adjusted EBITDA






 






 






4.5






 






 






 






9.3






 






 






 






(4.8






)






 






(51.6






)%








Adjusted EBITDA margin






 






 






6.1






%






 






 






10.1






%






 






 






(400






)






bps







Net sales decreased 19.8% and organic net sales decreased 19.8% due to an accelerated seasonal inventory build by certain retailers in the prior year, impacting all pest control categories.


Adjusted EBITDA of $4.5 million decreased from $9.3 million in the prior year, and adjusted EBITDA margins of 6.1% compared to 10.1% in the prior year primarily due to lower sales volume partially offset by productivity improvements and operational efficiencies.


Home & Personal Care (HPC)





 






Three Month Periods Ended






 






 






 






 








(in millions, except %)






 






December 28, 2025






 






December 29, 2024






 






Variance








Net sales






 






$






321.5






 






 






$






348.1






 






 






$






(26.6






)






 






(7.6






)%








Adjusted EBITDA






 






 






20.7






 






 






 






26.7






 






 






 






(6.0






)






 






(22.5






)%








Adjusted EBITDA margin






 






 






6.4






%






 






 






7.7






%






 






 






(130






)






bps







Net sales decreased 7.6%. Excluding favorable foreign currency impacts, organic net sales decreased 11.1%. Net sales in Personal Care were down mid single digits and net sales in Home Appliances were down high single digits. Excluding the favorable impact of foreign currency, organic net sales in EMEA declined across both Home Appliances and Personal Care with continued category demand softness. EMEA sales were also impacted by higher retailer inventory levels at a key retailer. LATAM organic net sales increased high teens, with growth in both categories. North American net sales percent declined in the mid teens, primarily driven by lower volumes in both categories in light of increased product cost from higher tariffs.


Adjusted EBITDA was $20.7 million compared to $26.7 million in the prior year, and adjusted EBITDA margins declined to 6.4% compared to 7.7% last year, driven by lower volumes and higher tariff costs partially offset by pricing, reduced investment spend, cost improvement initiatives, and favorable foreign exchange.


Liquidity and Debt


As of the end of the quarter, the Company had a cash balance of $126.6 million and total liquidity of $618.8 million, including undrawn capacity on its cash flow revolver of $492.2 million. The Company also had $578.9 million of debt outstanding, with no outstanding borrowings on the revolver, senior unsecured notes of $496.1 million and finance leases of $82.8 million. The Company ended the quarter with net debt of $452.3 million.


Fiscal 2026 Earnings Framework


The Company expects to deliver flat to low single digit growth in reported net sales in fiscal 2026. Fiscal 2026 adjusted EBITDA is expected to increase by low single digits. Adjusted free cash flow is expected to be approximately 50% of adjusted EBITDA.


The Company continues to target a long-term net leverage ratio of 2.0 - 2.5 times.


Conference Call/Webcast Scheduled for 9:00 A.M. Eastern Time Today


Spectrum Brands will host an earnings conference call and webcast at 9:00 a.m. Eastern Time today, February 5, 2026. The live webcast and related presentation slides will be available by visiting the Event Calendar page in the Investor Relations section of Spectrum Brands' website at www.spectrumbrands.com. Participants may register here. Instructions will be provided to ensure the necessary audio applications are downloaded and installed. Users can obtain these at no charge.


A replay of the live broadcast will be accessible through the Event Calendar page in the Investor Relations section of the Company’s website.


About Spectrum Brands Holdings, Inc.


Spectrum Brands is a home-essentials company with a mission to make living better at home. We focus on delivering innovative products and solutions to consumers for use in and around the home through our trusted brands. We are a leading supplier of specialty pet supplies, lawn and garden and home pest control products, personal insect repellents, shaving and grooming products, personal care products, and small household appliances. Helping to meet the needs of consumers worldwide, we offer a broad portfolio of market-leading, well-known and widely trusted brands including Tetra®, DreamBone®, SmartBones®, Nature’s Miracle®, 8-in-1®, FURminator®, Healthy-Hide®, Good Boy®, Meowee!®, OmegaOne®, Spectracide®, Cutter®, Repel®, Hot Shot®, Rejuvenate®, Black Flag®, Liquid Fence®, Remington®, George Foreman®, Russell Hobbs®, Black + Decker®, PowerXL®, Emeril Lagasse®, and Copper Chef®. For more information, please visit www.spectrumbrands.com. Spectrum Brands – A Home Essentials Company™


Non-GAAP Measurements


Our consolidated results contain non-GAAP metrics such as organic net sales, adjusted EBITDA, adjusted EBITDA margin, adjusted EPS and adjusted Free Cash Flow. While we believe organic net sales and adjusted EBITDA, adjusted EBITDA margin, adjusted EPS and adjusted Free Cash Flow are useful supplemental information, such adjusted results are not intended to replace our financial results in accordance with Accounting Principles Generally Accepted in the United States (“GAAP”) and should be read in conjunction with those GAAP results.


Organic Net Sales - We define organic net sales as net sales excluding the effect of changes in foreign currency exchange rates and impact from acquisitions (where applicable). We believe this non-GAAP measure provides useful information to investors because it reflects regional and operating segment performance from our activities without the effect of changes in currency exchange rates and acquisitions. We use organic net sales as one measure to monitor and evaluate our regional and segment performance. Organic growth is calculated by comparing organic net sales to net sales in the prior year. The effect of changes in currency exchange rates is determined by translating the current period net sales using the currency exchange rates that were in effect during the prior comparative period. Net sales are attributed to the geographic regions based on the country of destination. We exclude net sales from acquired businesses in the current year for which there are no comparable sales in the prior period.


Adjusted EBITDA and Adjusted EBITDA Margin - Adjusted EBITDA and adjusted EBITDA margin are non-GAAP metrics used by management, which we believe are useful to investors to measure the operational strength and performance of our business. These metrics provide investors additional information about our operating profitability for certain non-cash items, non-routine items we do not expect to continue at the same level in the future, as well as other items not core to our continuing operations. By providing these measures, together with a reconciliation of the most directly comparable GAAP measure, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives, as securities analysts and other interested parties use such calculations as a measure of financial performance and debt service capabilities, and they are regularly used by management and our Board of Directors for internal purposes in evaluating our business performance, making budgeting decisions, and comparing our performance against other peer companies using similar measures. They facilitate comparisons between peer companies since interest, taxes, depreciation, and amortization can differ greatly between organizations as a result of differing capital structures and tax strategies. Adjusted EBITDA is also used for determining compliance with the Company’s debt covenants. EBITDA is calculated by excluding the Company’s income tax expense, interest expense, depreciation expense and amortization expense (from intangible assets) from net income from continuing operations. Adjusted EBITDA also excludes certain non-cash adjustments including share based compensation; impairment charges on property, plant and equipment, right of use lease assets, and goodwill and other intangible assets; gain or loss from the early extinguishment of debt; and purchase accounting adjustments recognized in income subsequent to an acquisition attributable to the step-up in value on assets acquired. Additionally, the Company will further recognize adjustments from adjusted EBITDA for other costs, gains and losses that are considered significant, non-recurring, or otherwise not supporting the continuing operations and revenue generating activity of the segment or Company, including but not limited to, exit and disposal activities, or incremental costs associated with strategic transactions, restructuring and optimization initiatives such as the acquisition or divestiture of a business, related integration or separation costs, or the development and implementation of strategies to optimize or restructure the Company and its operations. Adjusted EBITDA margin is adjusted EBITDA as a percentage of reported net sales.


Adjusted EPS - Management uses adjusted EPS as one means of analyzing the Company’s current and future financial performance and identifying trends in its financial condition and results of operations. Management believes that adjusted EPS is a useful measure for providing further insight into our operating performance because it eliminates the effects of certain items that are not comparable from one period to the next. By providing these measures, together with a reconciliation of the most directly comparable GAAP measure, we believe we are enhancing investors' understanding of our business and our results of operations, as well as assisting investors in evaluating how well we are executing our strategic initiatives, as securities analysts and other interested parties use such calculations as a measure of financial performance, and they are regularly used by management and our Board of Directors for internal purposes in evaluating our business performance, making budgeting decisions, and comparing our performance against other peer companies using similar measures. Adjusted EPS is calculated by excluding the effect of certain adjustments from diluted EPS, including non-cash adjustments including impairment charges on property, plant and equipment, operating and finance lease assets, and goodwill and other intangible assets; gain or loss from the early extinguishment of debt; and purchase accounting adjustments recognized in income subsequent to an acquisition attributable to the step-up in value on assets acquired. Additionally, the Company will further recognize adjustments from diluted EPS for other costs, gains and losses that are considered significant, non-recurring, or otherwise not supporting the continuing operations and revenue generating activity of the segment or Company, including but not limited to, exit and disposal activities, or incremental costs associated with strategic transactions, restructuring and optimization initiatives such as the acquisition or divestiture of a business, related integration or separation costs, or the development and implementation of strategies to optimize or restructure the Company and its operations. Adjusted EPS is further impacted by the effect on the income tax provision from adjustments made to reported diluted EPS.


Adjusted Free Cash Flow - Management uses adjusted free cash flow as a means of analyzing the Company's operating results and evaluating cash flow generation from its revenue generating activities, excluding certain cash flow activity associated with strategic transactions and other costs and receipts attributable to non-recurring events. Management believes that adjusted free cash flow is a useful measure in understanding cash flow conversion associated with the Company's operations that is available for acquisitions and other investments, service of debt, dividends and share repurchases and meetings its working capital requirements. By providing these measures, together with a reconciliation of the most directly comparable GAAP measure, we believe we are enhancing investors' understanding of our business, as well as assisting investors in evaluating how well we are generating cash flow from operations, as securities analysts and other interested parties use such calculations as a measure of financial performance, and they are regularly used by management and our Board of Directors for internal purposes in evaluating our business performance, making budgeting decisions, and comparing our performance against other peer companies using similar measures. Free cash flow is calculated by excluding capital expenditures from cash flow provided (used) by operating activities and further adjusted for non-operating strategic transaction costs and other non-recurring or unusual cash flow activity that would otherwise be considered operating cash flow under US GAAP. Cash flow conversion is adjusted free cash flow as a percentage of adjusted EBITDA.


The Company provides this information to investors to assist in comparisons of past, present and future operating results and to assist in highlighting the results of on-going operations. While the Company’s management believes that non-GAAP measurements are useful supplemental information, such adjusted results are not intended to replace the Company’s GAAP financial results and should be read in conjunction with those GAAP results. Other Supplemental Information has been provided to demonstrate reconciliation of non-GAAP measurements discussed above to most relevant GAAP financial measurements.


Forward-Looking Statements


We have made or implied certain forward-looking statements in this document. Statements or expectations regarding our business and M&A strategy, earnings framework, future free cash flows, tariff impact and mitigation efforts, future operations and operating model, financial condition, estimated revenues, projected costs, inventory management, supply chain and supply chain relocation efforts, earnings power, project synergies, prospects, plans and strategic objectives of management, the geopolitical environment, and information concerning expected actions of third parties are forward-looking statements. Our statements also reflect our expectations regarding tariffs, which are based on currently known and effective tariffs, including tariffs placed by the United States ("U.S.") on other countries and tariffs announced by other countries on the U.S., and do not reflect tariffs that have been announced and delayed or other additional tariffs which could result in additional costs. When used in this report, the words future, anticipate, pro forma, seek, intend, plan, envision, estimate, believe, belief, expect, project, forecast, outlook, earnings framework, goal, target, could, would, will, can, should, may and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words.


Because these forward-looking statements are based upon our current expectations of future events and projections and are subject to a number of risks and uncertainties, many of which are beyond our control and some of which may change rapidly, actual results or outcomes may differ materially from those expressed or implied herein, and you should not place undue reliance on these statements. Important factors that could cause our actual results to differ materially from those expressed or implied herein include, without limitation: (1) the economic, social and political conditions, civil unrest, terrorist attacks, acts of war, natural disasters or other public health concerns in the U.S. or the international markets that impact our business, customers, employees (including our ability to retain and attract key personnel), manufacturing facilities, suppliers, capital markets or financial condition and results of operations, which may amplify the other risks and uncertainties we face; (2) the number of local, regional and global uncertainties could negatively impact our business; (3) the negative effect of the Russia-Ukraine war and the Israel-Hamas war and their impact on those regions and surrounding regions, including the Middle East and disruptions to international trade, supply chain and shipping routes and pricing, and on our operations and those operations of our customers, suppliers and other stakeholders; (4) our reliance on third-party partners, suppliers and distributors that are outside our control to achieve our business objectives; (5) the impact of government intervention with or influence on the operations of our suppliers, including in China; (6) the impact of expenses resulting from the implementation of new business strategies, divestitures or current and proposed restructuring and optimization activities, including changes in inventory and distribution center changes which are complicated and involve coordination among a number of stakeholders, including our suppliers and transportation and logistics handlers; (7) the impact of our indebtedness and financial leverage position on our business, financial condition and results of operations; (8) the impact of restrictions in our debt instruments on our ability to operate our business, finance our capital needs or pursue or expand business strategies; (9) any failure to comply with financial covenants and other provisions and restrictions of our debt instruments; (10) the effects of interest rate fluctuations or general economic conditions, including the impact of, uncertainty around and changes to, tariffs and trade policies, including the tariffs and trade agreements announced by the Trump Administration in 2025 and that may be announced in the future, tariff mitigation efforts (including supply chain relocation efforts), inflation, recession or fears of a recession, depression or fears of a depression, labor costs and stock market volatility or monetary or fiscal policies in the countries where we do business; (11) the impact of fluctuations in transportation and shipment costs, fuel costs, commodity prices, costs or availability of raw materials or terms and conditions available from suppliers, including suppliers’ willingness to advance credit; (12) changes in foreign currency exchange rates that may impact our purchasing power, pricing and margin realization within international jurisdictions; (13) the loss of, significant reduction in, or dependence upon, sales to any significant retail customer(s), including their changes in retail inventory levels and management thereof; (14) competitive promotional activity or spending by competitors, or price reductions by competitors; (15) the introduction of new product features or technological developments by competitors and/or the development of new competitors or competitive brands, including via private label manufacturers; (16) changes in consumer spending preferences, shopping trends, and demand for our products, particularly in light of economic stress; (17) our ability to develop and successfully introduce new products, protect intellectual property and avoid infringing the intellectual property of third parties; (18) our ability to successfully identify, implement, achieve and sustain productivity improvements, cost efficiencies (including at our manufacturing and distribution operations) and cost savings; (19) the seasonal nature of sales of certain of our products; (20) the impact weather conditions may have on the sales of certain of our products; (21) our ability to respond to unusual weather activity, natural disasters and pandemics; (22) the cost and effect of unanticipated legal, tax or regulatory proceedings or new laws or regulations (including environmental, public health and consumer protection regulations); (23) our ability to use social media platforms as effective marketing tools and to manage negative commentary regarding us, and the impact of rules governing the use of e-commerce and social media; (24) public perception regarding the safety of products that we manufacture and sell, including the potential for environmental liabilities, product liability claims, litigation and other claims related to products manufactured by us and third parties; (25) the impact of existing, pending or threatened litigation, government regulation or other requirements or operating standards applicable to our business; (26) the impact of cybersecurity breaches or our actual or perceived failure to protect company and personal data, including our failure to comply with new and increasingly complex global data privacy regulations; (27) changes in accounting policies applicable to our business; (28) our discretion to adopt, conduct, suspend or discontinue any share repurchase program or conduct any debt repayments, redemptions, repurchases or refinancing transactions (including our discretion to conduct purchases or repurchases, if any, in a variety of manners including open-market purchases, privately negotiated transactions, tender offers, redemptions, or otherwise); (29) our ability to utilize net operating loss carry-forwards to offset tax liabilities; (30) our ability to separate the Company’s HPC business and create an independent Global Appliances business on expected terms, and within the anticipated time period, or at all, and to realize the potential benefits of such business; (31) our ability to create a pure play consumer products company composed of our GPC and H&G businesses and to realize the expected benefits of such creation, and within the anticipated time period, or at all; (32) our ability to successfully implement and realize the benefits of acquisitions or dispositions and the impact of any such transactions on our financial performance; (33) the impact of actions taken by significant shareholders; (34) the unanticipated loss of key members of senior management and the transition of new members of our management teams to their new roles; and (35) the other risk factors set forth in Spectrum Brands Holdings, Inc. 2025 Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and the other filings within the U.S. Securities and Exchange Commission (the "SEC").


Some of the above-mentioned factors are described in further detail in the sections entitled Risk Factors in our annual and quarterly reports (including this report), as applicable. You should assume the information appearing in this report is accurate only as of the date hereof, or as otherwise specified, as our business, financial condition, results of operations and prospects may have changed since that date. Except as required by applicable law, including the securities laws of the U.S. and the rules and regulations of the SEC, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, to reflect actual results or changes in factors or assumptions affecting such forward-looking statements.




SPECTRUM BRANDS HOLDINGS, INC.








CONDENSED CONSOLIDATED STATEMENTS OF INCOME (Unaudited)









 




 






Three Month Periods Ended








(in millions, except per share amounts)






 






December 28,

2025






 






December 29,

2024








Net sales






 






$






677.0






 






 






$






700.2






 








Cost of goods sold






 






 






435.4






 






 






 






442.4






 








Gross profit






 






 






241.6






 






 






 






257.8






 








Selling, general & administrative






 






 






214.5






 






 






 






213.1






 








Operating income






 






 






27.1






 






 






 






44.7






 








Interest expense






 






 






6.8






 






 






 






6.2






 








Interest income






 






 






(0.6






)






 






 






(2.6






)








Other non-operating expense, net






 






 






0.4






 






 






 






4.7






 








Income from continuing operations before income taxes






 






 






20.5






 






 






 






36.4






 








Income tax (benefit) expense






 






 






(8.9






)






 






 






11.8






 








Net income from continuing operations






 






 






29.4






 






 






 






24.6






 








Loss from discontinued operations, net of tax






 






 






(1.0






)






 






 






(0.8






)








Net income






 






 






28.4






 






 






 






23.8






 








Net income from continuing operations attributable to non-controlling interest






 






 






—






 






 






 






0.3






 








Net income attributable to controlling interest






 






$






28.4






 






 






$






23.5






 








Amounts attributable to controlling interest






 






 






 






 








Net income from continuing operations attributable to controlling interest






 






$






29.4






 






 






$






24.3






 








Loss from discontinued operations attributable to controlling interest, net of tax






 






 






(1.0






)






 






 






(0.8






)








Net income attributable to controlling interest






 






$






28.4






 






 






$






23.5






 








Earnings Per Share






 






 






 






 








Basic earnings per share from continuing operations






 






$






1.25






 






 






$






0.87






 








Basic earnings per share from discontinued operations






 






 






(0.04






)






 






 






(0.03






)








Basic earnings per share






 






$






1.21






 






 






$






0.84






 








Diluted earnings per share from continuing operations






 






$






1.25






 






 






$






0.87






 








Diluted earnings per share from discontinued operations






 






 






(0.04






)






 






 






(0.03






)








Diluted earnings per share






 






$






1.21






 






 






$






0.84






 








Weighted Average Shares Outstanding






 






 






 






 








Basic






 






 






23.4






 






 






 






27.9






 








Diluted






 






 






23.5






 






 






 






28.1






 









SPECTRUM BRANDS HOLDINGS, INC.








CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Unaudited)









 




 






Three Month Periods Ended








(in millions)






 






December 28, 2025






 






December 29, 2024








Cash flows from operating activities






 






 






 






 








Net cash provided (used) by operating activities from continuing operations






 






$






67.7






 






 






$






(71.9






)








Net cash used by operating activities from discontinued operations






 






 






(0.3






)






 






 






(0.5






)








Net cash provided (used) by operating activities






 






 






67.4






 






 






 






(72.4






)








Cash flows from investing activities






 






 






 






 








Purchases of property, plant and equipment






 






 






(8.1






)






 






 






(5.9






)








Cash flows from financing activities






 






 






 






 








Payment of debt and debt premium






 






 






(3.0






)






 






 






(2.6






)








Payment of debt issuance costs






 






 






—






 






 






 






(0.1






)








Dividends paid to shareholders






 






 






(10.9






)






 






 






(13.2






)








Treasury stock purchases






 






 






(35.5






)






 






 






(72.9






)








Excise tax paid on net share repurchases






 






 






—






 






 






 






(4.1






)








Share based award tax withholding payments, net of proceeds upon vesting






 






 






(8.2






)






 






 






(4.4






)








Net cash used by financing activities






 






 






(57.6






)






 






 






(97.3






)








Effect of exchange rate changes on cash and cash equivalents






 






 






1.2






 






 






 






(12.9






)








Net change in cash, cash equivalents and restricted cash






 






 






2.9






 






 






 






(188.5






)








Cash, cash equivalents, and restricted cash, beginning of period






 






 






127.2






 






 






 






370.5






 








Cash, cash equivalents, and restricted cash, end of period






 






$






130.1






 






 






$






182.0






 









SPECTRUM BRANDS HOLDINGS, INC.








CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited)











 



(in millions)






 






December 28, 2025






 






September 30, 2025








Assets






 






 






 






 








Cash and cash equivalents






 






$






126.6






 






$






123.6








Trade receivables, net






 






 






517.0






 






 






521.7








Other receivables






 






 






57.5






 






 






50.9








Inventories






 






 






450.8






 






 






446.1








Prepaid expenses and other current assets






 






 






48.9






 






 






41.9








Total current assets






 






 






1,200.8






 






 






1,184.2








Property, plant and equipment, net






 






 






247.9






 






 






255.0








Operating lease assets






 






 






112.6






 






 






73.5








Deferred charges and other






 






 






65.1






 






 






62.5








Goodwill






 






 






867.5






 






 






866.8








Intangible assets, net






 






 






929.0






 






 






937.6








Total assets






 






$






3,422.9






 






$






3,379.6








Liabilities and Shareholders' Equity






 






 






 






 








Current portion of long-term debt






 






$






11.9






 






$






11.7








Accounts payable






 






 






334.0






 






 






283.7








Accrued wages and salaries






 






 






29.6






 






 






50.2








Accrued interest






 






 






3.1






 






 






4.5








Income tax payable






 






 






27.7






 






 






21.2








Short-term operating lease liabilities






 






 






19.9






 






 






31.8








Other current liabilities






 






 






116.0






 






 






120.1








Total current liabilities






 






 






542.2






 






 






523.2








Long-term debt, net of current portion






 






 






554.3






 






 






556.2








Long-term operating lease liabilities






 






 






111.5






 






 






54.5








Deferred income taxes






 






 






129.8






 






 






136.6








Uncertain tax benefit obligation






 






 






167.1






 






 






180.3








Other long-term liabilities






 






 






18.7






 






 






19.1








Total liabilities






 






 






1,523.6






 






 






1,469.9








Shareholders' equity






 






 






1,899.3






 






 






1,909.7








Total liabilities and shareholders' equity






 






$






3,422.9






 






$






3,379.6









SPECTRUM BRANDS HOLDINGS, INC.








OTHER SUPPLEMENTAL INFORMATION (Unaudited)













 



NET SALES AND ORGANIC NET SALES













 



The following is a summary of net sales by segment for the three month periods ended December 28, 2025 and December 29, 2024, respectively.













 



(in millions, except %)






 






Three Month Periods Ended






 






 






 






 








 






December 28,

2025






 






December 29,

2024






 






Variance








GPC






 






$






281.6






 






$






260.0






 






$






21.6






 






 






8.3






%








H&G






 






 






73.9






 






 






92.1






 






 






(18.2






)






 






(19.8






)%








HPC






 






 






321.5






 






 






348.1






 






 






(26.6






)






 






(7.6






)%








Net Sales






 






$






677.0






 






$






700.2






 






 






(23.2






)






 






(3.3






)%









The following is a reconciliation of reported sales to organic sales for the three month period ended December 28, 2025 compared to reported net sales for the three month period ended December 29, 2024, respectively.















 




 






December 28, 2025






 






Net Sales




December 29, 2024






 






 






 






 








Three Month Periods Ended

(in millions, except %)






 






Net Sales






 






Effect of Changes in Foreign Currency






 






Organic Net Sales






 






 






Variance








GPC






 






$






281.6






 






$






(6.4






)






 






$






275.2






 






$






260.0






 






$






15.2






 






 






5.8






%








H&G






 






 






73.9






 






 






—






 






 






 






73.9






 






 






92.1






 






 






(18.2






)






 






(19.8






)%








HPC






 






 






321.5






 






 






(12.1






)






 






 






309.4






 






 






348.1






 






 






(38.7






)






 






(11.1






)%








Total






 






$






677.0






 






$






(18.5






)






 






$






658.5






 






$






700.2






 






 






(41.7






)






 






(6.0






)%









SPECTRUM BRANDS HOLDINGS, INC.








OTHER SUPPLEMENTAL INFORMATION (Unaudited)









 



ADJUSTED EBITDA AND ADJUSTED EBITDA MARGIN









 



The following is a reconciliation of reported net income from continuing operations to adjusted EBITDA and adjusted EBITDA margin for the three month periods ended December 28, 2025 and December 29, 2024, respectively.









 



 






 






Three Month Periods Ended








(in millions, except %)






 






December 28, 2025






 






December 29, 2024








Net income from continuing operations






 






$






29.4






 






 






$






24.6






 








Income tax (benefit) expense






 






 






(8.9






)






 






 






11.8






 








Interest expense






 






 






6.8






 






 






 






6.2






 








Depreciation






 






 






15.6






 






 






 






14.0






 








Amortization






 






 






10.2






 






 






 






10.5






 








Share based compensation






 






 






4.3






 






 






 






4.7






 








Non-cash impairment charges






 






 






0.5






 






 






 






—






 








Exit and disposal costs






 






 






1.1






 






 






 






0.5






 








Global ERP transformation1






 






 






2.4






 






 






 






2.5






 








Litigation costs2






 






 






0.9






 






 






 






0.8






 








Other3






 






 






0.3






 






 






 






2.2






 








Adjusted EBITDA






 






$






62.6






 






 






$






77.8






 








Net sales






 






$






677.0






 






 






$






700.2






 








Net income from continuing operations margin






 






 






4.3






%






 






 






3.5






%








Adjusted EBITDA margin






 






 






9.2






%






 






 






11.1






%








____________________


1


Costs attributable to a multi-year transformation project to upgrade and implement our enterprise-wide operating systems to SAP S/4 HANA on a global basis, including project management and professional services for planning, design, and business process review that do not qualify as software configuration and implementation costs recognized as capital expenditures or deferred costs under applicable accounting principles. The Company had recently extended the project to include its HPC segment and anticipates costs to be incurred through further deployments through calendar year 2026.







2


Litigation costs are associated with the Company's cost to facilitate various ongoing litigation matters associated with the Tristar Business acquisition in Fiscal 2023, previously disclosed in our 2025 Annual Report. Such costs are anticipated to be incurred until such litigation matters have been resolved.







3


Other is attributable to other project costs associated with previous strategic separation initiatives and distribution center transitions, plus certain non-recurring key executive severance costs in the prior year.









SPECTRUM BRANDS HOLDINGS, INC.








OTHER SUPPLEMENTAL INFORMATION (Unaudited)









 



ADJUSTED DILUTED EPS









 



The following is a reconciliation of reported diluted EPS from continuing operations to adjusted diluted EPS from continuing operations for the three month periods ended December 28, 2025 and December 29, 2024, respectively.









 



 






 






Three Month Periods Ended








(per share amounts)






 






December 28, 2025






 






December 29, 2024








Diluted EPS from continuing operations






 






$






1.25






 






 






$






0.87






 








Adjustments:






 






 






 






 








Non-cash impairment charges






 






 






0.02






 






 






 






—






 








Exit and disposal costs






 






 






0.05






 






 






 






0.02






 








Global ERP transformation1






 






 






0.10






 






 






 






0.09






 








Litigation costs2






 






 






0.04






 






 






 






0.03






 








Other3






 






 






0.01






 






 






 






0.08






 








Pre-tax adjustments






 






 






0.22






 






 






 






0.22






 








Tax impact of adjustments4






 






 






(0.07






)






 






 






(0.07






)








Net adjustments






 






 






0.15






 






 






 






0.15






 








Diluted EPS from continuing operations, as adjusted






 






$






1.40






 






 






$






1.02






 








____________________



1







Costs attributable to a multi-year transformation project to upgrade and implement our enterprise-wide operating systems to SAP S/4 HANA on a global basis, including project management and professional services for planning, design, and business process review that do not qualify as software configuration and implementation costs recognized as capital expenditures or deferred costs under applicable accounting principles. The Company had recently extended the project to include its HPC segment and anticipates costs to be incurred through further deployments through calendar year 2026.








2







Litigation costs are associated with the Company's cost to facilitate various ongoing litigation matters associated with the Tristar Business acquisition in Fiscal 2023, previously disclosed in our 2025 Annual Report. Such costs are anticipated to be incurred until such litigation matters have been resolved.








3







Other is attributable to other project costs associated with previous strategic separation initiatives and distribution center transitions, plus certain non-recurring key executive severance costs in the prior year.








4







Income tax adjustment reflects the impact on the income tax provision from the adjustments to diluted EPS.









SPECTRUM BRANDS HOLDINGS, INC.








OTHER SUPPLEMENTAL INFORMATION (Unaudited)









 



ADJUSTED FREE CASH FLOW









 



The following is a reconciliation of reported operating cash flow from continuing operations to adjusted free cash flow for the three month periods ended December 28, 2025 and December 29, 2024, respectively.









 



 






 






Three Month Periods Ended








(in millions)






 






December 28, 2025






 






December 29, 2024








Net cash provided by operating activities from continuing operations






 






$






67.7






 






 






$






(71.9






)








Purchases of property, plant and equipment






 






 






(8.1






)






 






 






(5.9






)








Free cash flow






 






 






59.6






 






 






 






(77.8






)








Deal transaction costs1






 






 






—






 






 






 






4.5






 








Other2






 






 






0.1






 






 






 






(0.5






)








Adjusted free cash flow






 






$






59.7






 






 






$






(73.8






)








____________________



1







Incremental cash flow attributable to certain strategic transactions including previous separation initiatives.








2







Other is attributable to restricted cash balances which are considered a component of operating cash flow under US GAAP.







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260204777633/en/
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Jen Schultz 314-253-5923


Original: Spectrum Brands Holdings Reports Fiscal 2026 First Quarter Results