Core Sales Strong At Newell Brands

Newell Brands has net sales of $2.4 billion for the first quarter of 2022, a 4.4 per cent increase compared to net sales of $2.29 billion in the first quarter of 2021. Core sales grew 6.9 per cent year-over-year. Net sales were 16.9 per cent above the first quarter 2019 level, driven by growth across every segment. Gross margin was 31 per cent compared with 31.9 per cent in the prior-year period, partially due to inflation, particularly related to resin, sourced finished goods, transportation and labour, and unfavourable impact from foreign exchange. The company had net income of $234 million for the quarter compared with $89 million last year.