The results progress. and a this we Ravi, of morning QX everyone. good Thanks strong reflect quarter morning announced
momentum the and the company shareholder around, strategic We are with value. drive decisive building And to the thus making are we the within and choices encouraged and results far, organization. turn
points number you across results all or The proof key we today. financial expectations our a metrics. early of share days, line ahead positive still but with It's have in were of to
the growth. share. $XXX strong than on better sales For core capital cost prior and second than made We delivered more initiatives. to operating million the working consecutive flow divisions execution into per reflecting quarter, of of headway cash out seven operating and doubled further productivity which earnings And year-to-date translated year, on four anticipated relative controls, margins
and to year cash give raise rhythm getting organization consistent outlook of both the from normalized for EPS back the is delivery. us operations. The full our confidence These strong flow results into
five turnaround From Newell for strategic on plan to making a term are the progress we all success. of position perspective, brands pillars long
strategic to international launching and gains is driving important return themes, most sustainable company accelerating eCommerce on our differentiated objectives including of the We're profitable business. implementing customer growth. relationships, share key innovation, and marketing, sales compelling five focused strengthening omni-channel and One the to
innovation approach and growth. increasing channels consumers the critical core driving purchase digital retooling where to across are first relevance are company that that believe We returning mindset to to moving and intent and our This upgrading key also sales a marketing is our we and ensuring a to brands all shop.
insights our complement increase and market, bringing company with social our innovation ideas. listening, intelligence. revamping created the and into focus innovation are speed external We've analytics, process internally We generated a a on to artificial to that is new approach to
function, We specific have moved channel marketing a an channel from away omni toward approach.
significantly digital and months brands, leveraging consumer new about same at with the will quarter tech XX technology. out roll it to driving will reducing platform portfolio, It six implementation capabilities. with the the this currently take our the which five across started new time savings We improving cost while experience us sites the complexity, improve to
all Although are growth a the with Baby, Home quarter. still sequentially strong Home Fragrance delivered top to sales progress divisions. early Writing, days, Connected and Security momentum on sales line; eCommerce accelerated making this & double-digit growth across pace strong core we all
although their points still below punching quarter. presents core grew cells two the total, markets meaningful from which stacked opportunity for sales year our second well, XXX improved In growth International weight, as by going a basis growth are forward. core they
showing pillar and through Second overhead progress. cost meaningful also strategic operating savings margins improving is productivity
productivity XX,XXX a beginning our XX% funnel gross of or than plans SKUs doubled of the excluded XX% since end next We in target taken margin to out year to more by get which business, point we've From ago. XX,XXX with the RCP reduction to concrete our year. SKUs, date the place have about
our simplifying reduction to track centers close good on chain We and three post on are the too, SKU plants end of obsolete by efforts We XXXX, XX helps and progress which remain manufacturing capital. supply distribution excess moving inventory making and footprint. working
a number have focused in We flight reduction. overhead cost on of initiatives
For cost line the functions we believe are enable will integrating businesses, growth which support RCP efficiency. example, and we the of Food top and better
of centralizing and offshore. are consumer moving a meaningful portion our service We function
We X service end are on number locations of reduce consumer to track of by from the XX year. to next our
by our by of to track reduce next on office are We end footprint year. about XX% the
Additionally, company the to by we year, redundancy on the XX% by IP as simplify. the track cut across applications of and next were number we of remove end
make continue We systems systems standardizing the on complexity to organization. across reducing progress and
third SAP Asia, total which us & four XXXX. for we of in conversion quarter, During completed SAP completed to Cookware the the in Appliance implementations gets
keep This portfolio morning, are more that is commercial quarter, keeping Mapa/Spontex businesses to and product the strategic Rubbermaid decision of third them. retaining to our attractive portfolio. announced in apparent them it to We than Quickie business, portfolio. optimize underway economics last are its became the pillar disclosed the as contributions the strengthening we that the Our the work is and we divesting
to operating flow sales, Quickie accretive and generate Keeping total be per in margins, Similarly with these average. margins RCP, of businesses beyond. ahead share Mapa/Spontex earnings strong operating cash company flow the will cash and and XXXX to
is Food that conclude Mapa/Spontex currently Commercial means expected officially operations we upon our end, the included will will closing to as Transaction and the Card year close business. This of program. continuing by U.S. the Playing be part as and Quickie our which of in of divestiture fourth quarter,
We strengthening recognize leverage leverage the this that the puts reducing balance short ratio our substantially in sheet term. decision and We committed ratio. to on the pressure remain
of term We and higher short our the the over outweighed by a in are expectations benefits ability that degree is we of of a generative leverage have confidence cash comfortable years. of target flow company multiple deferral high cash the
a talk calculation make and about debt-to-EBITDA. With the leverage as that our have time than divestiture to of gross seems program, an ratio of completion the it appropriate wanted a to is change rather that to net-debt-to we make EBITDA
debt, is calculate As net the I you better recognizes know, most net of the benefit since consumer product on believe it balance using cash sheet. measure, a debt and companies leverage
updated that of year, by approximately of a three half of XXXX. ratio end we now by the under attain So leverage this expect and times to times definition, end approaching a four the
the well to strategic spoken shared as and with have ramifications. rating as agencies this We keep about the decision rationale them change, Quickie for and financial Mapa/Spontex to the the
view, tradeoff and being ratio decision XXX million end, successfully longer-term. with offer accretive sales, debt a and delay relatively by earnings in per debt is our cash our target reduced the gross flow, short tender the beneficial a $XXX third completed to margins, during that To reaching the In quarter, a company leverage the million. share
which expect another to plans complete announced $XXX to Just million we quarter. fourth last in outstanding debt, we week, the in redeem
as to strengthening we continue make see, balance So progress on you sheet. the
plan of plank accelerating management. cash cycle turnaround focusing fourth better our through is working on our The capital conversion
here clearing faster, driving customer cash processes. million deductions inventory, to Year-to-date team through significant terms, flow SKU reductions, payment as doing is doubled a number. our improving extending has than are well and The job We both $XXX progress planning come. reducing and on forecasting more with year ago as good a more operating
building last strategic higher The previously. outlook raise anticipated us engagement. team five million $XXX winning today confidence to is million from improving our pillars the encouraging full to operating with million flow than $XXX cash and employee results a year $XXX to for are to giving significantly $XXX the The million of progress
forward. with onboarding Ravi Parsons engagement schedule, to in myself, the and aggressive his lead partnering has employee his Ravi, CHRO. with Steve and of shared bring our Steve will new going you instrumental our executive people, decision rest team as agenda be the to in
consistent of since significant pulse of which Just halls. last informal employee XXXX, employee in week, town performed results improvement showed from we the a collecting one is that got fall our the survey feedback been we've the the engagement in with
on encouraging Newell have still are more the to do we competent to this excited While front, being the part leadership lots more company. about feeling of employees brands, of in work of see and that it's
of of Fragrance Home Let Home toward Writing, eCommerce our me year results. now turn to review grew guidance last Core groups sales range. grew down X.X% $X.X the Security a QX double-digits. to sales, higher were financial versus X.X% detailed billion. & end our declined Connected Net Baby, core sales and
strong operating Normalized XX than headwinds initiatives. with contracted than favorable by pricing tariffs combination savings XX.X% XX.X% XX mix Normalized productivity productivity traction in foreign exchange. margin optimizing to basis to basis points and offset on cost better margin declined our were expectations and inflation, more gross points due from to as and
normalized XX favorable million increase which tax pay over significant benefits. better basis We due anticipated in overheads, a year quarter, to recorded to reflecting SG&A than Debt resulted offset discrete a versus The interest of savings down tax ratio sales the up benefit planned points was $XX million by expense year. moved A&P of progress spend. past last net this $XX on in
in net $XX Normalized below discontinued ago company QX, to from due operational tax better was share normalized favorable from end At reflecting per as earnings diluted increased year-over-year $X.XX. The year we guidance as diluted operations million well Normalized outstanding. operations performance, a well income more divestitures. our million to the from than had shares the lost XXX which of $XX per range continuing X% $X.XX diluted was share delivered earnings contribution ahead of the quarter, completed expected million benefit. of
we Rubbermaid products please commercial continuing to the accommodate our results, move have structure operations. reorganized the reporting note segment business of to that the Turning
reflect three QX segments four operating financials Our previously. versus
are is own Appliance called one & segments. now outdoor standalone the are & as no we RCP Cookware segment, its home There development changes and Food learning and reporting or living to segment Food and and Commercial.
business X.X%. performance core distribution Home QX gains continued and growth from Core Europe. The by sales segment grew Living & driven for the Fragrance momentum from and eCommerce its Outdoor sales Home strong with
to The sell of quarter, prior as the Core the Safety Division of a October, Connected Outdoor for which at Month in & Security benefited Recreation Division were QX. to expense had due in Home partially year-over-year expected. QX down strong timing very & Fire sales
Development X.X% is trends We performance off its levels. & for contributing offset outcome. at Learning core was this to by peak share core both softening with strong which were Baby market grew segment brands with Slime, Our That business Writing sales Writing driver performance Writings Elmer's, a our where category. meaningful in partially the from and pleased although still back-to-school gained across
driven Business be by for anticipated. business brands. also the the Appliance declined at business LatAm sales, challenged. segment the innovation of strength to as Baby grew America sales continues our North & well, compelling Cookware is but Core core The The doing and X.X%
not it improvement While the year. in certainly outcome, versus the trend business of the is we the first are where satisfied half in with was this a significant
rebuilding growth the to quarter. segment We long profitable this over for on & focused sustainable the Core pipeline the innovation sales drive Commercial declined XX.X% are term. Food
by run product and Our At timing and line while will with business Food sell QX. impacted sale, being business core held a RCP, subcategories rationalization lower maximization unfavorably shift in for benefit was that Black impacting EBITDA the margin Friday for been has that sales. for
line into historical focus growth, on integration We a believe with trends. sales sustainable CPs ongoing attractive our the company, core and that reignite can in with profitable operations and the we more a closer of renewed growth
spite of in stronger cash deduction $XXX ahead more generated operating strategic divested of the level, year including resolution to out taken the on doubled from taking levels, payment Year-to-date in terms demand improve SKU has loss initiatives well million from closer of improvements as The cash. process, contribution improvement improving, performance The benefits operating in business. company business and $XXX cash than plan. flow Moving to customer million QX, ago forecasting. in to extending flow as working complexity, the capital, benchmark reflects a
see conversion We significant multi-year a company's cash opportunity continue to cycle. to the improve
the release, impact and full to I'd QX out our we which discussing in Quickie and to that press Before including operations continuing XXXX. for supplemental and point outlook, the the tables Mapa/Spontex of like year provided information, shows
to and reduced Mapa/Spontex operations moving normalized on move penny increased our RCP, to net but EPS the with discussion and depreciated. depreciation on in both last assets restart businesses. are a to due margin, expense of quarter recapture from operating to by not Similarly expense This sales normalized for because accordance depreciation GAAP, the continuing company operations requires Quickie discontinued held sale these
The annualized approximately non-cash $XX Mapa/Spontex depreciation and is million. expense for Quickie
full updated XXXX Our comparison QX based year will in a the schedule. on supplemental metrics outlook and be for this with
With through walk and Results. that outlook Full Year QX for reference, I'll of frame updated our
core expects XXXX, net year Company billion to full For sales digit low single $X.X of sales reflecting the decline. billion $X.X to deliver a approximately
expansion operating points XX.X%. Normalized to margin to points basis of XX XX XX.X% to basis
high the the tightening on both are We range low end. and
expect to tariffs than funding We productivity additional more simultaneously reductions increases, from investment. unfavorable the cost inflation offset improvements A&P currency, while and overhead impact price and
effective for $X.XX a normalized total for raising company rate normalized tax and continuing guidance a rate, to range for the of share expect $X.XX. We a single the our operations per are earnings in to we diluted digit high
Mapa/Spontex flowing Quickie. from the upside incremental depreciation the through of of some $XX fully million of that an and delivered we in QX, inclusion We and covering are
midpoint and forecast This divestiture to million planning cash and better approximately nearly are of We reflecting anticipated benefits costs, million capital, $XXX raising initiatives. related improved operations for progress from and to $XXX forecast the million related, taxes working from and XX% operating includes flow at performance, transaction $XXX our cost. tax than additional restructuring on also cash by
assumes no The share outlook repurchases.
spending progress the basis $X.X margin A&P operating declining as to contract productivity sales the XX we XX.X% look quarter, range sales expect and XX to core to X%. increase versus with net we fourth we to basis on to overheads X% now to plan As XX.X% to billion $X.X XXXX. billion in despite Normalized will sustained points points
normalized within The continuing range. earnings a with a XX% estimated count normalized per $X.XX share to effective QX. the to diluted range operations the for rate This share total is $X.XX diluted company for yields similar tax in mid
preliminary surrounding closely XXXX, Turning want how to are about we we share particularly movements. the year. macros, We're in tariffs and while to [indiscernible] are viewing monitoring I some currency perspective early next the
targeting support for which optimization sustained up margin growth, of with another and be efforts set is long are behind brand on portion company to behind cost We term. the line year of improvement improvement. productivity capabilities select A sequential reinvested, the driving expected top to and
going cash we cash our still will We the optimistic are opportunity, the cycle, flow capital of are continue operating working total in conversion innings after early and year-over-year. to improve and company shorten
are this by schedule details longer more surrounding during February. turnaround share of encouraged plan, earnings normal driving through term progress we will our guidance closing, the our company. about excited call QX opportunity XXXX are We and the in the the for In we
Q&A, past journey I pleasure for has and the turnaround just the Ravi over opening Before real want with looking that to been forward continuing it to say I'm together. XX working a days,
