What is the revenue and EPS growth rate for Spectrum Brands year over year?

What were the key takeaways from Spectrum Brands's earnings call?

What is Spectrum Brands's gross profit margin?

What is the market's earnings forecast for Spectrum Brands next quarter?

What factors drove the changes in Spectrum Brands's revenue and profit?

What were the key takeaways from Spectrum Brands’s earnings call?

What guidance did Spectrum Brands's management provide for the next earnings period?

What is Spectrum Brands's latest dividend and current dividend yield?

- **GPC Recovery**: 5.8% organic growth, driven by Companion Animal brands outperforming market, despite EBITDA decline due to tariffs.
- **H&G Momentum**: Q1 down 19.8% but POS trends improving; expects H2 growth with new product launches.
- **Cash Flow Strength**: $60M Q1 free cash flow, $42.3M shares repurchased, new $300M buyback program.
- **Tariff Mitigation**: Pricing and cost actions offset $16M tariffs, with HPC most impacted.
- **Strategic Growth**: Focus on GPC and H&G M&A, with HPC strategic review ongoing.

**【CEO Summary Section】**
- Global Pet Care (GPC) returned to growth with 5.8% organic net sales, driven by Companion Animal brands outperforming the market. Home & Garden (H&G) is expected to grow in the second half, with Q1 sales down 19.8% due to prior-year inventory distortions.
- Strong cash flow generation ($60M adjusted free cash flow) and share buybacks ($42.3M year-to-date), with a new $300M repurchase program authorized.
- Strategic focus on operational excellence (SAP S/4HANA ERP deployment), disciplined capital allocation, and M&A opportunities in GPC and H&G.
- Full-year guidance: flat to low single-digit net sales growth, low single-digit EBITDA growth, 50% free cash flow conversion.

**【CFO Financial Commentary】**
- Q1 net sales: $1.1B (-3.3% YoY), adjusted EBITDA: $62.6M (-19.8% YoY), driven by GPC and H&G headwinds.
- GPC: $49M EBITDA (-5.8% YoY) due to tariffs and trade spend, but 5.8% organic sales growth.
- H&G: $4.5M EBITDA (-51.6% YoY), with POS momentum expected in Q2-Q4.
- HPC: $20.7M EBITDA (-22.5% YoY), with North America down mid-teens due to tariffs and SKU rationalization.
- Cash balance: $126.6M, net debt: $452.3M, leverage: 1.65x, below target.

**【Q&A Key Highlights】**
- **Pet Care Outlook**: CEO cautious on calling a bottom but notes GPC market share gains and innovation pipeline strength. Aquatics stabilization in Europe, but North America needs strategic reset.
- **Home & Garden Inventory**: Retailers disciplined in 2026 build vs. 2025 distortions; Q2 POS expected to improve post-cold weather, with strong new product launches (e.g., Wasp Trap, Hot Shot traps).
- **Tariff Mitigation**: Pricing and cost improvements offset $16M incremental tariffs, with HPC most impacted.
- **M&A Strategy**: Seeking synergistic GPC and H&G assets; HPC strategic review ongoing.
- **Free Cash Flow**: 50% of EBITDA target achievable despite HPC headwinds.

Spectrum Brands Holdings, Inc. (SPB) Q1 2026 Earnings Call Transcript

- **Resilience Amid Headwinds**: FY25 free cash flow of $171M exceeded targets, with $375M returned to shareholders. Global Pet Care and Home & Garden set to grow in 2026.
- **Supply Chain Transformation**: Reduced Chinese sourcing by 50%, with $15M-$20M direct spend in key businesses by 2026. Tariff exposure mitigated to $70M-$80M.
- **Strategic Priorities**: Operational excellence, disciplined capital allocation, and innovation-driven growth in pet and garden categories.
- **Risks & Challenges**: Home & Personal Care faces category softness, while HPC Appliance business requires strategic solutions amid macroeconomic uncertainty.

**【CEO Summary Section】**
- **Challenging Year Navigation**: CEO David Maura highlighted navigating $450M tariff headwinds, reducing Chinese-sourced products by 50%, and offsetting costs through vendor concessions, pricing, and supply chain diversification.
- **2026 Growth Outlook**: Global Pet Care and Home & Garden businesses expected to return to growth, driven by innovation (e.g., Nature's Miracle, Good Boy brand expansion) and reduced supply chain reliance on China.
- **Free Cash Flow & Capital Returns**: Delivered $171M free cash flow in FY25, exceeding $160M target, with $375M returned to shareholders via buybacks and dividends.
- **Strategic Focus**: Emphasis on operational excellence, cost reduction (e.g., 4.4M shares repurchased), and disciplined capital allocation.

**【CFO Financial Commentary】**
- **FY25 Financials**: Net sales declined 5.2% due to macroeconomic headwinds, with adjusted EBITDA of $289.1M. Free cash flow conversion at 50% of EBITDA, exceeding expectations.
- **Business Unit Performance**: 
  - **Global Pet Care**: Organic sales down 3.3%, but EBITDA margin improved to 16.6% via cost management and innovation (e.g., DreamBone CollaYUMS).
  - **Home & Garden**: Net sales up 3.2% on delayed seasonal demand, with Spectracide leading pest control growth.
  - **Home & Personal Care**: Organic sales down 13.4% due to U.S. supply chain simplification, but EBITDA margin stabilized at 5.3%.
- **FY26 Guidance**: Flat to low single-digit net sales growth, with EBITDA driven by expense management and favorable FX.

**【Q&A Highlights】**
- **HPC Strategy**: CEO reaffirmed focus on profitability, supply chain simplification, and strategic solutions post-macro stabilization. Tariff mitigation actions (pricing, diversification) reduced exposure to $70M-$80M.
- **Pet Category Growth**: Global Pet Care expected to outperform category with innovation (e.g., aquatics distribution gains) and disciplined marketing spend.
- **Tariff Impact**: CFO noted $450M tariff exposure reduced to $70M-$80M, with 2026 corporate costs up $12M due to one-time TSA reimbursements lapsing.
- **ERP Implementation**: SAP S/4HANA rollouts in Europe and HPC expected to enhance operational efficiency and support future M&A.

Spectrum Brands Holdings, Inc. (SPB) Q4 2025 Earnings Call Transcript

- **Q3 Challenges**: 10.2% sales decline driven by $30M in lost shipments, but Q4 sales rebounding with July growth in Pet Care and Home & Garden.
- **Cost Management**: $50M cost reduction achieved in 90 days, with $160M free cash flow target on track.
- **Strategic Focus**: Share buybacks ($300M YTD), disciplined M&A, and innovation (e.g., Spectracide Wasp Trap) driving long-term growth.
- **Tariff Resilience**: Eliminated tariff exposure by Q3 end, with $20-25M in 2026 pricing actions to offset future risks.

**【CEO Summary Section】**
- **Tariff Impact and Cost-Cutting**: CEO David Maura highlighted a $50 million cost reduction in Q3, including RIFs, delayed hiring, and supply chain diversification. Despite a 10.2% decline in net sales, the company expects Q4 sales to improve, with July showing strong rebound in Global Pet Care (GPC) and Home & Garden (H&G). 
- **Supply Chain Disruptions**: Paused Chinese imports due to 145% tariffs caused 8 weeks of stock shortages, leading to $30 million in lost sales. Q4 supply constraints are expected to ease, with most pricing negotiations resolved.
- **Strategic Priorities**: Focus on free cash flow ($160M FY25 target), share buybacks ($300M YTD), and disciplined M&A. Pet Care innovation (e.g., CollaYUMS) and Home & Garden's Spectracide market share gains are key growth drivers.

**【CFO Financial Commentary】**
- **Financial Results**: Q3 net sales down 10.2% to $766M, adjusted EBITDA $76.6M (-17% YoY). Gross margin contracted 110bps due to tariffs and inflation, offset by $38M in cost savings. Free cash flow guidance remains $160M.
- **Business Unit Performance**: 
  - **Global Pet Care**: Organic sales down 11.4%, EBITDA $44M (-23%). Gains in EMEA and Latin America offset U.S. category decline. New products (e.g., DreamBone CollaYUMS) show promise.
  - **Home & Garden**: Organic sales down 10.3%, EBITDA $38.6M (-11%). Spectracide Wasp Trap and Hotshot innovations drove share gains despite weather delays.
  - **Home & Personal Care**: Organic sales down 11.4%, EBITDA $7M (-41%). U.S. appliance sales soft, but Latin America growth offsets.

**【Q&A Key Highlights】**
- **Sales Recovery**: CFO Jeremy Smeltser estimates $30M in Q3 sales lost due to stop shipments, with Q4 impact reduced to single digits. July sales growth in GPC and H&G suggest normalization.
- **Tariff Uncertainty**: Guidance remains cautious due to fluid trade negotiations (e.g., U.S.-China tariffs). Company targets $20-25M in 2026 pricing/supplier concessions to offset incremental tariff exposure.
- **Capital Allocation**: $1.3B returned to shareholders since HHI deal. Buybacks paused in Q3 to preserve liquidity, but opportunistic repurchases expected. M&A focus on accretive Pet Care and H&G deals.


Spectrum Brands Holdings, Inc. (SPB) Q3 2025 Earnings Call Transcript

- **Tariff Response**: Paused Chinese sourcing for U.S. market; 35% of HPC products and all but $20M of GPC products will be sourced outside China by end of FY2025.
- **Financial Resilience**: $160M free cash flow target for FY2025; net leverage at 1.7x, lowest in peer group.
- **Growth Catalysts**: Accelerating M&A in undervalued Pet assets; GPC expansion into food and health segments; HPC international profitability (80% of profits outside U.S.).
- **Q2 Results**: Net sales down 6% YoY; adjusted EBITDA $71.3M (-24% YoY). GPC and HPC facing near-term headwinds but positioned for 2026 recovery.


**【CEO Summary Section】**
- Tariffs on Chinese goods have escalated to 145%-170%, forcing Spectrum Brands to pause nearly all Chinese sourcing for the U.S. market. By end of FY2025, the company expects to source 35% of Home & Personal Care (HPC) products and all but $20M of Global Pet Care (GPC) products outside China.
- GPC is transitioning quickly, with new manufacturing facilities in Mexico and Vietnam. HPC faces challenges, but 80% of its profits come from international markets. The company aims to generate $160M in free cash flow for FY2025.
- Strategic priorities include protecting the balance sheet (net leverage 1.7x), accelerating supply chain diversification, and resuming M&A in Pet and Home & Garden categories as assets become undervalued.

**【CFO Financial Commentary】**
- Q2 2025 net sales decreased 6% YoY to $822M, driven by U.S. consumer softness and tariff impacts. Organic sales (excluding FX) fell 4.6%.
- Adjusted EBITDA was $71.3M (-24% YoY), with GPC and HPC facing margin pressure from tariffs and inflation. Free cash flow target remains $160M, supported by disciplined inventory management and working capital improvements.
- GPC sales declined 7% YoY, but EMEA growth offset U.S. weakness. HPC organic sales dropped 2.2% due to U.S. demand decline, though international markets held steady.

**【Q&A Key Takeaways】**
- **Tariff Mitigation**: HPC expects 35% of U.S. products sourced outside China by end of FY2025, rising to 70% by FY2026. GPC will be nearly fully diversified by end of FY2025.
- **M&A Strategy**: The company is poised to capitalize on dislocated asset prices, particularly in Pet categories. New GPC leader Ori Ben Shai aims to expand into food, health, and cat segments.
- **Cash Flow Management**: Q2 share buybacks totaled $260M, with $140M remaining under authorization. Free cash flow focus will drive $6-7 EPS for FY2025, prioritizing balance sheet strength over short-term earnings.


Spectrum Brands Holdings, Inc. (SPB) Q2 2025 Earnings Call Transcript

- **Revenue Resilience:** Q1 2025 net sales +1.2% (1.9% organic), with Home & Garden (+27.9%) and HPC e-commerce (>30% of sales) leading growth.
- **Profitability Boost:** Adjusted EBITDA up 26.9% to $77.8M, driven by 140bps gross margin expansion and $16.5M cost savings.
- **Tariff Mitigation:** 35-40% of U.S.-bound HPC production to shift out of China by year-end, with 90%+ of tariff impacts offset via supplier concessions.
- **Share Buybacks:** $183M repurchased YTD (36.6% share count reduction), with $220M remaining under authorization. Management targets 7x EBITDA valuation vs. current 7x vs. peer 12-15x.
- **E-commerce Dominance:** HPC e-commerce growth outpaces brick-and-mortar, with new products like Emerald air fryer driving online sales.


**【CEO Opening Remarks】**
- Q1 2025 net sales increased 1.2% (1.9% organic), driven by Home & Garden and e-commerce growth in HPC. Adjusted EBITDA rose 26.9% to $77.8M, with gross margin improving 140bps to 36.8%.
- Tariff mitigation strategy: 35-40% of U.S.-bound HPC products to be sourced outside China by year-end, with 90%+ of tariff impacts expected to be offset through supplier concessions and cost improvements.
- Capital allocation: $183M in share buybacks YTD, reducing share count by 36.6%, with $220M remaining under repurchase authorization.

**【CFO Financial Breakdown】**
- **Global Pet Care (GPC):** Net sales down 6.1% (6.4% organic) due to Q4 2024 sales pull-forward, but EBITDA rose $1.2M to $51.5M. E-commerce sales flat YoY at ~20% of GPC, with strong POS growth despite supply chain constraints.
- **Home & Garden:** Q1 net sales +27.9% (timing-driven), EBITDA $9.3M (vs. -$0.7M last year). H2 2025 outlook for low-single-digit growth, supported by retailer inventory normalization and new product launches.
- **Home & Personal Care (HPC):** Organic sales +3.1%, e-commerce >30% of total. Adjusted EBITDA flat at $26.7M, with H2 2025 growth expected despite tariff headwinds.

**【Q&A Highlights】**
- **Tariff Mitigation:** 90%+ of incremental 10% China tariffs to be offset via supplier cost-sharing and operational efficiencies. HPC most impacted (40% of U.S. purchases from China).
- **M&A Update:** HPC dual-track M&A process delayed by geopolitical uncertainty, but business performance remains strong. No immediate plans to exit HPC; focus on organic growth and adjacencies.
- **Share Buybacks:** $1.2B returned to shareholders since HHI transaction, with $220M remaining under current authorization. Management views shares as undervalued at 7x EBITDA vs. peer multiples of 12-15x.
- **E-commerce Growth:** HPC e-commerce >30% of sales, with 2025 growth expected to outpace brick-and-mortar. New product launches (e.g., Emerald air fryer) driving online penetration.


Actual										0.91	1.36	1.72	2.13	1.76	1.57	1.11	-0.06	0.41	0.54	0.48	-0.32	-0.14	0.75	1.36	0.78	1.62	1.1	0.97	1.02	0.68	1.24	2.53	1.4
Forecast										0.3722	0.9286	1.3017	0.7671	0.9886	1.5803	0.7973	0.5359	0.3567	1.3959	0.5892	-0.2946	-0.1801	0.4827	1.0334	0.5293	0.6762	1.1239	1.0418	0.9187	1.3633	1.2713	0.8961	0.7606
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	+144.49%	+46.46%	+32.13%	+177.67%	+78.03%	-0.65%	+39.22%	-111.20%	+14.94%	-61.32%	-18.53%	-8.62%	+22.27%	+55.38%	+31.60%	+47.36%	+139.57%	-2.13%	-6.89%	+11.03%	-50.12%	-2.46%	+182.33%	+84.07%

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