Filing Flows › Spectrum Brands Holdings (SPB) › Q4 FY24
Spectrum Brands Holdings (SPB) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Nov 15, 2024
Spectrum Brands Holdings (SPB) reported revenue of $774M for the fourth quarter fiscal 2024 (Q4 FY24), +4% from a year earlier and -0.7% from the quarter before. Operating margin was 2.8%, net earnings $28.8M (3.7% of revenue).
Spectrum Brands Holdings, Q4 FY24: revenue $774M (+4% year over year), operating margin 2.8%, net earnings $28.8M, operating cash flow $80.7M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $774M | -0.7% | +4% |
| Gross profit | $288M | -5% | +18% |
| Operating profit | $22.0M | -54% | +36% |
| Net earnings | $28.8M | +380% | +76% |
| Operating cash flow | $80.7M | -2% | — |
| Free cash flow | $67.7M | -7% | — |
What changed
Revenue was $773.7M in Q4 FY24, up 4% year over year and down 1% from the previous quarter. HPC was the largest line at 43% of revenue.
Gross margin was 37.2%, up 4.2 points from a year earlier. Operating profit was $22.0M, a 2.8% margin (up 0.7 points year over year). Of the extra revenue versus a year earlier, 18% reached operating profit, above the 2% margin then. Operating expenses grew 17% against revenue growth of 4%. The fastest-growing cost line was SG&A (+22%). Net earnings were $28.6M, up 70% year over year. The effective tax rate was 12.2%. Non-operating items added $10.8M, 33% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $80.7M, 280% of net earnings. Non-cash charges added back $25.5M of depreciation and amortization and $4.6M of share-based compensation. Working capital and other items added $21.8M. Capital expenditures of $13.0M left free cash flow of $67.7M.
Questions
What was Spectrum Brands Holdings' revenue in the fourth quarter fiscal 2024?
Spectrum Brands Holdings (SPB) reported revenue of $774M for the fourth quarter fiscal 2024 (Q4 FY24), +4% from a year earlier and -0.7% from the quarter before.
Was Spectrum Brands Holdings profitable in the fourth quarter fiscal 2024?
Operating profit was $22.0M (2.8% of revenue) and net earnings $28.8M.