Corporate executives and division leaders of Spectrum Brands
Holdings, Inc. (NYSE: SPB), a global consumer products company
offering an expanding portfolio of leading brands providing
superior value to consumers and customers every day, will present
strategies for long-term, sustainable growth at an Investor Day
event this morning at the New York Stock Exchange.
Describing Spectrum Brands as a rewarding and safe investment
opportunity, Chief Executive Officer Andreas Rouvé will highlight
the Company’s track record of sales, adjusted EBITDA, margin and
free cash flow growth and detail an innovation and growth roadmap
to become a larger and even more profitable global consumer brands
company with largely non-discretionary products used in households
daily and market-leading brands in categories with barriers to
entry.
The meeting will feature presentations from leaders of the
Company’s four operating divisions who will review white space
growth opportunities, innovation and new product roadmaps, key
brand expansions and investments, and continuous improvement
initiatives to deliver future sales, profit and margin
expansion.
The Investor Day event will include product display areas from
each division with examples of new products and future
innovation.
Spectrum Brands also will say it now expects fiscal 2016
adjusted net cash provided from operating activities after
purchases of property, plant and equipment (adjusted free cash
flow) to somewhat exceed the upper end of its previously forecasted
range of $505-$515 million.
Free Cash Flow
Our definition of free cash flow, which is a non-GAAP financial
measure, takes into consideration capital investments required to
maintain the operations of our businesses and execute our strategy.
We believe free cash flow provides useful information to investors
regarding our ability to generate cash from business operations
that is available for acquisitions and other investments, service
of debt principal, dividends and share repurchases and meet its
working capital requirements. Our definition of free cash flow may
be different from definitions used by other companies. We also use
free cash flow, as defined, as one measure to monitor and evaluate
performance.
Spectrum Brands will provide a live webcast of this event on
www.spectrumbrands.com. The webcast and related presentation
materials will be archived on the website.
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, a member of the Russell 1000 Index, is
a global and diversified consumer products company and a leading
supplier of consumer batteries, residential locksets, residential
builders’ hardware, plumbing, shaving and grooming products,
personal care products, small household appliances, specialty pet
supplies, lawn and garden and home pest control products, personal
insect repellents, and auto care products. Helping to meet the
needs of consumers worldwide, our Company offers a broad portfolio
of market-leading, well-known and widely trusted brands including
Rayovac®, VARTA®, Kwikset®, Weiser®, Baldwin®, National Hardware®,
Pfister®, Remington®, George Foreman®, Russell Hobbs®,
Black+Decker®, Farberware®, Tetra®, Marineland®, Nature’s Miracle®,
Dingo®, 8-in-1®, FURminator®, IAMS®, Eukanuba®, Digest-eeze™,
Healthy-Hide®, Littermaid®, Spectracide®, Cutter®, Repel®, Hot
Shot®, Black Flag®, Liquid Fence®, Armor All®, STP® and A/C PRO®.
Spectrum Brands' products are sold by the world's top 25 retailers
and are available in more than one million stores in approximately
160 countries. Based in Middleton, Wisconsin, Spectrum Brands
Holdings generated net sales of approximately $4.69 billion in
fiscal 2015. For more information, visit
www.spectrumbrands.com.
Forward-Looking Statements
Certain matters discussed in this news release and other oral
and written statements by representatives of the Company regarding
matters such as the Tender Offer and the achievement of the
expected benefits of any such transactions, expected sales,
adjusted EBITDA, debt reduction and leverage, and other measures of
financial performance, may be forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These statements are identified by words such as “future,”
“anticipate”, “intend,” “plan,” “estimate,” “believe,” “expect,”
“project,” “forecast,” “could,” “would,” “should,” “will,” “may,”
and similar expressions of future intent or the negative of such
terms. These statements are subject to a number of risks and
uncertainties that could cause results to differ materially from
those anticipated as of the date of this release. Actual results
may differ materially as a result of (1) Spectrum Brands’ ability
to manage and otherwise comply with its covenants with respect to
its significant outstanding indebtedness, (2) risks related to
changes and developments in external competitive market factors,
such as introduction of new product features or technological
developments, development of new competitors or competitive brands
or competitive promotional activity or spending, (3) changes in
consumer demand for the various types of products Spectrum Brands
offers, (4) unfavorable developments in the global capital markets,
(5) the impact of overall economic conditions on consumer spending,
(6) fluctuations in commodities prices, the costs or availability
of raw materials or terms and conditions available from suppliers,
(7) changes in the general economic conditions in countries and
regions where Spectrum Brands does business, such as stock market
prices, interest rates, currency exchange rates, inflation and
consumer spending, (8) Spectrum Brands’ ability to successfully
implement manufacturing, distribution and other cost efficiencies
and to continue to benefit from its cost-cutting initiatives, (9)
Spectrum Brands’ ability to identify, develop and retain key
employees, (10) unfavorable weather conditions and various other
risks and uncertainties, including those discussed herein and those
set forth in the securities filings of each of Spectrum Brands
Holdings, Inc. and SB/RH Holdings, Inc., including each of their
most recently filed Annual Reports on Form 10-K or Quarterly
Reports on Form 10-Q.
Spectrum Brands also cautions the reader that its estimates of
trends, market share, retail consumption of its products and
reasons for changes in such consumption are based solely on limited
data available to Spectrum Brands and management’s reasonable
assumptions about market conditions, and consequently may be
inaccurate, or may not reflect significant segments of the retail
market. Spectrum Brands also cautions the reader that undue
reliance should not be placed on any forward-looking statements,
which speak only as of the date of this release. Spectrum Brands
undertakes no duty or responsibility to update any of these
forward-looking statements to reflect events or circumstances after
the date of this report or to reflect actual outcomes.
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version on businesswire.com: http://www.businesswire.com/news/home/20161012005225/en/
Spectrum Brands Holdings, Inc.Investor/Media
Contact:Dave Prichard608-278-6141
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