Middleton-based Spectrum Brands Holdings Inc. announced on Thursday its fiscal first-quarter results, surpassing analysts’ expectations, the Wisconsin State Journal reports.
The holding company reported net income of $29.1 million, equivalent to 85 cents per share, with revenue totaling $692.2 million. Adjusted earnings, accounting for discontinued operations, stood at 78 cents per share.
According to Zacks Investment Research, the average estimate from three analysts anticipated earnings of 31 cents per share, with revenue projected at $673.8 million.
Comparatively, in the fiscal first quarter of the previous year, Spectrum Brands reported a loss of $20.9 million, or 51 cents per share, on revenue of $713.3 million. Adjusted for one-time gains and costs, the loss in the fiscal first quarter amounted to 32 cents per share.
