Shares of consumer goods company Newell Brands (NWL 54.90, +1.12) trade about 2.1% higher today, taking its two day gains to 3.8% following this morning’s full year earnings and revenue guidance reaffirm.
The reaffirm is unchanged from guidance issued on May 8 when the company, at the time, raised earnings guidance to $3.00-3.20 per share from $2.95-3.15 per share. Additionally, NWL is holding onto revenue guidance from that date for the full year in the range of $14.52-14.72 billion.
The move comes a little more than two weeks removed from shedding the company’s Winter Sports Business and about two months removed from selling its Pine Mountain and Diamond Matches businesses. It appears that, at least in recent months, the name of the game at NWL has been to streamline the business to emphasize more lucrative segments. Today’s reaffirm gives more visibility into management’s plan, validating recent business moves.
Specifically NWL will reaffirm this guidance at its appearance, presumably while adding some context, at the Deutsche Bank Global Consumer Conference in Paris, France scheduled for tomorrow at 8 a.m. ET.