Newell Rubbermaid Reports Financials
Year-Over-Year Increase Of 2.1%
Atlanta-based Newell Rubbermaid, the parent company of Top 40 supplier Sanford Business-To-Business (asi/84833), has reported 2014 sales of $5.73 billion, a year-over-year increase of 2.1%. For the fourth quarter, the firm’s revenues rose to $1.53 billion, up from $1.47 billion a year earlier, as core sales modestly improved.
“We are pleased to have finished the year with a strong set of fourth quarter results,” said Michael Polk, the company’s president and CEO. “We have simultaneously made very good progress on margins which, when coupled with our topline performance, resulted in fourth quarter earnings ahead of consensus.”
While the company did not break out its ad specialty sales, it did report Q4 revenues within each of its overall business segments. Writing segment revenues were $418.2 million, flat compared to Q4 of 2013. The firm’s fourth quarter home solutions sales were $458.6 million, a 10.8% jump that was bolstered by Newell’s late year acquisitions of drinkware makers Ignite Holdings and bubba brands. Meanwhile, sales in Newell’s tools and commercial products segments rose 3% and 5% respectively. The only unit that suffered a decline in sales was Newell’s baby and parenting segment, which saw Q4 revenues of $208.9 million, a 0.2% decrease.
Going forward, Newell Rubbermaid is projecting 2015 sales growth of 3% to 4%, with full-year adjusted earnings between $2.10 and $2.18 per share. “Our growth momentum is building driven by a terrific pipeline of new innovations, our plans to increase marketing investment again, and the sustained strong performance of our recent acquisitions,” said Polk.
Counselor ranks Sanford Business-To-Business as the 37th largest supplier in the industry, estimating the firm’s 2013 sales were $38.6 million, a year-over-year rise of 3%.