Spectrum Brands Holdings to Affirm Fiscal 2019 Guidance at Barclays Global Consumer Staples Conference
September 05 2019 - 6:30AM
Business Wire
Spectrum Brands Holdings, Inc. (NYSE: SPB) announced it will
affirm fiscal 2019 adjusted EBITDA guidance for continuing
operations of $560-$580 million during its presentation today at
the Barclays Global Consumer Staples Conference.
SPECTRUM BRANDS HOLDINGS, INC. RECONCILIATION OF
FORECASTED NET INCOME TO ADJUSTED EBITDA (in
millions)
F2019
Net income
$
(104) - (70)
Income tax expense
16 - 37
Interest expense
215 - 225
Depreciation and amortization
170 - 180
EBITDA
317 - 352
Share and incentive based compensation
57
Transaction related charges
18 - 22
Restructuring and related charges
80 - 90
Pet safety recall
1
Unrealized loss on Energizer investment
38
Foreign currency loss on multicurrency divestiture loans
30
Other
4 - 5
Adjusted EBITDA
$
560 - 580
About Spectrum Brands Holdings, Inc.
Spectrum Brands Holdings, a member of the Russell 1000 Index, is
a global consumer products company offering a broad portfolio of
leading brands and focused on driving innovation and providing
exceptional customer service. Our Company is a leading supplier of
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, and personal insect repellents. Helping
to meet the needs of consumers worldwide, our Company provides a
broad portfolio of market-leading, well-known and widely trusted
brands including Kwikset®, Weiser®, Baldwin®, National Hardware®,
Pfister®, Remington®, George Foreman®, Russell Hobbs®,
Black+Decker®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®,
8-in-1®, FURminator®, IAMS® and Eukanuba® (Europe only),
Digest-eeze™, Healthy-Hide®, Littermaid®, Spectracide®, Cutter®,
Repel®, Hot Shot®, Black Flag® and Liquid Fence®. 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 from time
to time may contain forward-looking statements, including, without
limitation, statements made regarding the Company’s ability to meet
its guidance for its fiscal 2019 and other financial metrics. We
have tried, whenever possible, to identify these statements by
using words like “future,” “anticipate”, “intend,” “plan,”
“estimate,” “believe,” “belief,” “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) the impact of our indebtedness on our business, financial
condition and results of operations; (2) 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;
(3) any failure to comply with financial covenants and other
provisions and restrictions of our debt instruments; (4) the impact
of actions taken by significant stockholders; (5) the impact of
fluctuations in commodity prices, costs or availability of raw
materials or terms and conditions available from suppliers,
including suppliers’ willingness to advance credit; (6) interest
rate and exchange rate fluctuations; (7) the loss of significant
reduction in, or dependence upon, sales to any significant retail
customer(s); (8) competitive promotional activity or spending by
competitors, or price reductions by competitors; (9) the
introduction of new product features or technological developments
by competitors and/or the development of new competitors or
competitive brands; (10) the effects of general economic
conditions, including inflation, recession or fears of a recession,
depression or fears of a depression, labor costs and stock market
volatility or changes in trade, tariff, monetary or fiscal policies
in the countries where we do business; (11) changes in consumer
spending preferences and demand for our products; (12) our ability
to develop and successfully introduce new products, protect our
intellectual property and avoid infringing the intellectual
property of third parties; (13) our ability to successfully
implement, achieve and sustain manufacturing and distribution cost
efficiencies and productivity improvements, and fully realize
anticipated cost savings; (14) the seasonal nature of sales of
certain of our products; (15) the effects of climate change and
unusual weather activity; (16) the cost and effect of unanticipated
legal, tax or regulatory proceedings or new laws or regulations
(including environmental, public health and consumer protection
regulations); (17) 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; (18) the impact of pending or threatened litigation; (19)
the impact of cybersecurity breaches or our actual or perceived
failure to protect company and personal data; (20) changes in
accounting policies applicable to our business; (21) our ability to
utilize net operating loss carry-forwards to offset tax liabilities
from future taxable income; (22) the impact of expenses resulting
from the implementation of new business strategies, divestitures or
current and proposed restructuring activities; (23) our inability
to successfully integrate and operate new acquisitions at the level
of financial performance anticipated; (24) the unanticipated loss
of key members of senior management; (25) the effects of political
or economic conditions, terrorist attacks, acts of war or other
unrest in international markets; and (26) the other risk factors
set forth in the securities filings of Spectrum Brands Holdings,
Inc., including the most recently filed Annual Report on Form 10-K
and subsequent Quarterly Report(s) 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: https://www.businesswire.com/news/home/20190905005045/en/
Investor/Media Contact: Dave Prichard 608-278-6141
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