Oh Newell! Newell Brands (NWL) owns some of the most iconic products within our everyday lives. Do you have a Sharpie® or Parker® pen lying around on your desk? Is your coffee made every day by a Mr. Coffee® brewer? These are just a couple of products that lives within Newell's portfolio of over 200 well-known brands, organized across 4 main categories- live, learn, work, and play. Over the past 5 years, Newell Brands has been a good performer within the S&P 500 and outperformed the index for the majority of that period. That is, until this recent crash.
What happened?
2017 started out strong for Newell, and its first 2 quarterly results were impressive. Operating income rose double-digits during both quarters and revenue more than doubled in Q1. These numbers led Newell's management to raise its dividend for the first time since 2015 and the stock was riding high. The first two months of Q3 looked promising as well and investors were excited.
