Newell Brands Inc 10-Q for FY2026 Q2

Newell Brands Inc. (NWL)

10-Q 2026-07-31 For: 2026-06-30

Added on July 31, 2026

About this 10-Q

Newell Brands Inc filed this 10-Q on July 31, 2026, covering the quarter ended June 30, 2026 (FY2026 Q2).

Headline figures

Quarter ended June 30, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $1.99B; up 3.0% from $1.94B a year earlier
Net income: $106M; up 130.4% from net income of $46M a year earlier
Diluted EPS: $0.25; up 127.3% from $0.11 a year earlier

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Delaware						36-3514169
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)


Large Accelerated Filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
Emerging growth company	☐


TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION			2
Item 1. Financial Statements			2
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			24
Item 3. Quantitative and Qualitative Disclosures About Market Risk			35
Item 4. Controls and Procedures			35
PART II. OTHER INFORMATION			35
Item 1. Legal Proceedings			35
Item 1A. Risk Factors			36
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities			36
Item 5. Other Information			36
Item 6. Exhibits			36
SIGNATURES			37


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net sales	$	1,994	$	1,935	$	3,543	$	3,501
Cost of products sold	1,182		1,250		2,218		2,313
Gross profit	812		685		1,325		1,188
Selling, general and administrative expenses	519		508		991		979
Restructuring costs, net	10		6		17		17

Operating income	283		171		317		192
Non-operating expenses:
Interest expense, net	87		82		171		154
Loss on extinguishment and modification of debt	—		13		—		13
Other expense, net	1		5		12		9
Income before income taxes	195		71		134		16
Income tax provision	89		25		61		7
Net income	$	106	$	46	$	73	$	9

Weighted average common shares outstanding:
Basic	425.2		417.8		423.4		417.3
Diluted	430.2		420.9		430.0		421.8

Earnings per share:
Basic	$	0.25	$	0.11	$	0.17	$	0.02
Diluted	$	0.25	$	0.11	$	0.17	$	0.02


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net income	$	106	$	46	$	73	$	9
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments	7		(17)		16		(18)
Pension and postretirement costs	6		(2)		9		1
Derivative financial instruments	2		(11)		6		(16)
Total other comprehensive income (loss), net of tax	15		(30)		31		(33)
Total comprehensive income (loss)	$	121	$	16	$	104	$	(24)


	June 30, 2026		December 31, 2025
Assets:
Cash and cash equivalents	$	209	$	203
Accounts receivable, net	1,025		987
Inventories	1,491		1,281
Prepaid expenses and other current assets	483		237
Total current assets	3,208		2,708
Property, plant and equipment, net	1,175		1,209
Operating lease assets	448		453
Goodwill	3,086		3,101
Other intangible assets, net	1,578		1,634
Deferred income taxes	787		825
Other assets	779		785
Total assets	$	11,061	$	10,715

Liabilities:
Accounts payable	$	1,054	$	931
Other accrued liabilities	1,364		1,464
Short-term debt and current portion of long-term debt	470		130
Total current liabilities	2,888		2,525
Long-term debt	4,536		4,543
Deferred income taxes	31		50
Operating lease liabilities	422		433
Other noncurrent liabilities	733		773
Total liabilities	8,610		8,324
Commitments and contingencies (Footnote 14)
Stockholders’ equity:
Preferred stock (10.0 authorized shares, $1.00 par value, no shares issued at June 30, 2026 and December 31, 2025)	—		—
Common stock (800.0 authorized shares, $1.00 par value, 457.3 shares and 447.1 shares issued at June 30, 2026 and December 31, 2025, respectively)	457		447
Treasury stock, at cost (31.9 shares and 27.9 shares at June 30, 2026 and December 31, 2025, respectively)	(662)		(644)
Additional paid-in capital	6,769		6,805
Retained deficit	(3,154)		(3,227)
Accumulated other comprehensive loss	(959)		(990)
Total stockholders’ equity	2,451		2,391
Total liabilities and stockholders’ equity	$	11,061	$	10,715


	Common Stock		Treasury Stock		Additional Paid-In Capital		Retained Earnings (Deficit)		Accumulated Other Comprehensive Income (Loss)		Total Stockholders’ Equity
Balance at March 31, 2026	$	457	$	(662)	$	6,781	$	(3,260)	$	(974)	$	2,342
Comprehensive income	—		—		—		106		15		121
Dividends declared on common stock - $0.07 per share	—		—		(31)		—		—		(31)
Equity compensation, net of tax	—		—		19		—		—		19
Balance at June 30, 2026	$	457	$	(662)	$	6,769	$	(3,154)	$	(959)	$	2,451

Balance at December 31, 2025	$	447	$	(644)	$	6,805	$	(3,227)	$	(990)	$	2,391
Comprehensive income	—		—		—		73		31		104
Dividends declared on common stock - $0.14 per share	—		—		(62)		—		—		(62)
Equity compensation, net of tax	10		(18)		26		—		—		18
Balance at June 30, 2026	$	457	$	(662)	$	6,769	$	(3,154)	$	(959)	$	2,451


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Proceeds received	$	803	$	753	$	1,369	$	1,340
Collected from customers and remitted to financial institution	720		620		1,260		1,160


Balance at December 31, 2025	$	11
Invoices participating in the SF Program	23
Invoices paid to the third-party vendor	(27)
Balance at June 30, 2026	$	7


	Cumulative Translation Adjustment		Pension and Postretirement Costs		Derivative Financial Instruments		AOCL
Balance at December 31, 2025	$	(783)	$	(195)	$	(12)	$	(990)
Other comprehensive income before reclassifications (a)	16		—		—		16
Amounts reclassified to earnings (b)	—		9		6		15
Net current period other comprehensive income	16		9		6		31
Balance at June 30, 2026	$	(767)	$	(186)	$	(6)	$	(959)


	Three Months Ended		Six Months Ended		Incurred since inception
	June 30, 2026
Restructuring costs	$	9	$	15	$	50
Restructuring-related costs	1		1		6
Total	$	10	$	16	$	56


Balance at December 31, 2025	$	34
Restructuring costs, net	17
Payments	(31)

Balance at June 30, 2026	$	20


	June 30, 2026		December 31, 2025
Raw materials and supplies	$	194	$	165
Work-in-process	148		159
Finished products	1,149		957
	$	1,491	$	1,281


	June 30, 2026		December 31, 2025
Land	$	67	$	68
Buildings and improvements	544		543
Machinery and equipment	1,666		1,642
	2,277		2,253
Less: Accumulated depreciation	(1,102)		(1,044)
	$	1,175	$	1,209


					June 30, 2026
Segments	Net Book Value at December 31, 2025		Foreign Exchange		Net Book Value		Gross Carrying Amount		Accumulated Impairment Charges
Home and Commercial Solutions	$	747	$	—	$	747	$	4,052	$	(3,305)
Learning and Development	2,354		(15)		2,339		3,426		(1,087)
Outdoor and Recreation	—		—		—		788		(788)
	$	3,101	$	(15)	$	3,086	$	8,266	$	(5,180)


	June 30, 2026						December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Tradenames — indefinite life (a)	$	441	$	—	$	441	$	553	$	—	$	553
Tradenames — other (a)	599		(169)		430		537		(186)		351
Capitalized software	225		(110)		115		212		(95)		117
Customer relationships and distributor channels	1,014		(422)		592		1,013		(400)		613
	$	2,279	$	(701)	$	1,578	$	2,315	$	(681)	$	1,634


	June 30, 2026		December 31, 2025
Customer accruals	$	532	$	616
Accrued compensation	166		168

Operating lease liabilities	114		113



Other	552		567
	$	1,364	$	1,464


	June 30, 2026		December 31, 2025
6.375% senior notes due 2027	$	494	$	497
8.500% senior notes due 2028	1,241		1,239
6.625% senior notes due 2029	485		492
6.375% senior notes due 2030	743		743
6.625% senior notes due 2032	495		495
5.375% senior notes due 2036	418		417
5.500% senior notes due 2046	658		658
Revolving credit facility (a)	470		130
Other debt	2		2
Total debt	5,006		4,673
Short-term debt and current portion of long-term debt	(470)		(130)
Long-term debt	$	4,536	$	4,543


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Commercial	$	327	$	332	$	624	$	645
Kitchen	457		439		827		815
Home Fragrance	119		121		232		244
Home and Commercial Solutions	903		892		1,683		1,704

Baby	264		238		516		476
Writing	587		571		929		905
Learning and Development	851		809		1,445		1,381

Outdoor and Recreation	240		234		415		416

	$	1,994	$	1,935	$	3,543	$	3,501


	June 30, 2026		December 31, 2025
Other receivables (a)	$	285	$	102
Prepaid expenses	93		76
Restricted cash	24		17
Other	81		42
	$	483	$	237


	June 30, 2026				December 31, 2025
	Fair Value		Book Value		Fair Value		Book Value
Senior notes	$	4,642	$	4,534	$	4,493	$	4,541


	Three Months Ended June 30, 2026								Three Months Ended June 30, 2025
	Consolidated		Home and Commercial Solutions		Learning and Development		Outdoor and Recreation		Consolidated		Home and Commercial Solutions		Learning and Development		Outdoor and Recreation
Net sales (a)	$	1,994	$	903	$	851	$	240	$	1,935	$	892	$	809	$	234
Cost of products sold	1,182		627		380		175		1,250		637		442		171
Segment SG&A	447		225		162		60		449		230		165		54
Other segment costs (b)	4		2		1		1		2		1		—		1
Segment operating income	$	361	$	49	$	308	$	4	$	234	$	24	$	202	$	8
Corporate expenses (c)	78								63
Operating income	$	283							$	171
Interest expense, net	87								82
Loss on extinguishment and modification of debt	—								13
Other expense, net	1								5
Income before income taxes	$	195							$	71


	Six Months Ended June 30, 2026								Six Months Ended June 30, 2025
	Consolidated		Home and Commercial Solutions		Learning and Development		Outdoor and Recreation		Consolidated		Home and Commercial Solutions		Learning and Development		Outdoor and Recreation
Net sales (a)	$	3,543	$	1,683	$	1,445	$	415	$	3,501	$	1,704	$	1,381	$	416
Cost of products sold	2,218		1,191		725		302		2,313		1,228		776		309
Segment SG&A	859		442		302		115		858		452		304		102
Other segment costs (b)	7		4		2		1		5		2		1		2
Segment operating income (loss)	$	459	$	46	$	416	$	(3)	$	325	$	22	$	300	$	3
Corporate expenses (c)	142								133
Operating income	$	317							$	192
Interest expense, net	171								154
Loss on extinguishment and modification of debt	—								13
Other expense, net	12								9
Income before income taxes	$	134							$	16


	Three Months Ended June 30, 2026						Three Months Ended June 30, 2025
	North America		International		TOTAL		North America		International		TOTAL
Home and Commercial Solutions	$	553	$	350	$	903	$	554	$	338	$	892
Learning and Development	673		178		851		622		187		809
Outdoor and Recreation	114		126		240		107		127		234
	$	1,340	$	654	$	1,994	$	1,283	$	652	$	1,935

	Six Months Ended June 30, 2026						Six Months Ended June 30, 2025
	North America		International		TOTAL		North America		International		TOTAL
Home and Commercial Solutions	$	1,034	$	649	$	1,683	$	1,064	$	640	$	1,704
Learning and Development	1,104		341		1,445		1,040		341		1,381
Outdoor and Recreation	197		218		415		199		217		416
	$	2,335	$	1,208	$	3,543	$	2,303	$	1,198	$	3,501


	Three Months Ended June 30,
(in millions)	2026			2025			$ Change		% Change
Net sales	$	1,994		$	1,935		$	59	3.0%
Gross profit	812			685			127		18.5%
Gross margin	40.7		%	35.4		%

Operating income	283			171			112		65.5%
Operating margin	14.2		%	8.8		%

Interest expense, net	87			82			5		6.1%
Loss on extinguishment and modification of debt	—			13			(13)		(100.0)%
Other expense, net	1			5			(4)		(80.0)%
Income before income taxes	195			71			124		NM

Income tax provision	89			25			64		NM
Income tax rate	45.6		%	35.2		%

Net income	$	106		$	46		$	60	NM

Diluted earnings per share	$	0.25		$	0.11


	2026		2025		Increase (Decrease)








Cash used in operating activities	$	(204)	$	(271)	$	67
Cash used in investing activities	(66)		(92)		26
Cash provided by financing activities	283		382		(99)
Exchange rate effect on cash, cash equivalents and restricted cash	—		4		(4)
Increase in cash, cash equivalents and restricted cash	$	13	$	23	$	(10)


Calendar Month	Total Number of Shares Purchased (a)	Average Price Paid Per Share		Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs	Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs
April	—	$	—	—	$	—
May	143,491	3.84		—	—
June	55,012	3.39		—	—
Total	198,503	$	3.72	—


Exhibit Number						Description of Exhibit
ITEM 10 — MATERIAL CONTRACTS
10.1*						Newell Brands Inc. 2026 Incentive Plan (incorporated by reference to Appendix A of the Company’s Proxy Statement dated March 26, 2026, File No. 001-09608).
ITEM 31 — RULE 13a-14(a)/15d-14(a) CERTIFICATIONS
31.1†						Certification of Chief Executive Officer Pursuant to Rule 13a-14(a) or Rule 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2†						Certification of Chief Financial Officer Pursuant to Rule 13a-14(a) or Rule 15d-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
ITEM 32 — SECTION 1350 CERTIFICATIONS
32.1†						Certification of Chief Executive Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2†						Certification of Chief Financial Officer Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
ITEM 101 — INTERACTIVE DATA FILE
101.SCH						XBRL Taxonomy Extension Schema
101.CAL						XBRL Taxonomy Extension Calculation Linkbase
101.DEF						XBRL Taxonomy Extension Definition Linkbase
101.LAB						XBRL Taxonomy Extension Label Linkbase
101.PRE						XBRL Taxonomy Extension Presentation Linkbase
104						Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101).


1.	I have reviewed this quarterly report on Form 10-Q for Newell Brands Inc.;
2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.	The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
(a)		designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
(b)		designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
(c)		evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
(d)		disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
5.	The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a)		all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
(b)		any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.