Newell Brands core sales up 2.5 percent
Newell Brands reported net sales growth of 165.0 percent to $4.14 billion and core sales growth of 2.5 percent in the fourth quarter of 2016.
Compared with sales of $1.56 billion in the fourth quarter of the prior year, the increase was primarily due to the Jarden acquisition. Core sales grew 2.5 percent driven by strong results from the Writing, Baby, Home Solutions and Outdoor Solutions businesses. All operating segments reported core sales growth with the exception of the small continuing portion of the Tools segment not held for sale.
Net income of $165.6 million compared to income of $13.2 million in the same period last year.
Tools net sales declined 4.6 percent to $198.1 million driven by the negative impact of foreign currency and ongoing macro-driven slowdown in Brazil. Tools core sales were less than $8.0 million, as the vast majority of the Tools segment is held for sale.
Net sales for the full year ended were $13.26 billion, an increase of 124.2 percent compared with $5.92 billion in the prior year. Core sales increased 3.7 percent. Net income of $527.8 million compared to income of $350 million in 2016.