Spectrum Brands Has High Volumes

Spectrum Brands Holdings, Inc. had net sales of $1,149.8 million in the second quarter of fiscal year 2021, an increase of 22.6 per cent compared to net sales of $937.8 million in the second quarter of fiscal 2020. Gross profit margin was in-line with the prior-year period with higher volumes in all business units, improved efficiencies from the company's Global Productivity Improvement Program (GPIP), and a favourable product mix. Net income was $36.8 million for the quarter, compared to a net loss of $59.2 million in the year-ago period and adjusted earnings increased 28.8 per cent to $180.9 million from $140.4 million. Hardware and home improvement segment sales increased 18.4 per cent year-over-year; home and personal care segment sales increased 28 per cent; and home and garden segment sales increased 21.4 per cent.