Earnings Boom Or Bust: Newell Brands, Ubiquiti, And Take-Two

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  • Tuesday's Trades Previous Articles Subscribe to Get Small Cap News & Alerts Chris La - Tuesday, February 13, 2024

    Earnings Boom or Bust: Newell Brands, Ubiquiti, and Take-Two

    Newell Brands (NWL) stunned the markets last Friday when it initiated its full-year 2024 sales outlook. It expects net sales to fall by between 5% to 8%. The normalized EPS of 52 – 62 cents is below analyst expectations of 76 cents.

    Newell is becoming a leaner, more effectively run company. It will post top-line profit increases in 2025. Debt fell to $4.9 billion, compared to $5.4 billion at the end of 2022.

    Consider holding NWL stock.

    Wireless network gear firm Ubiquiti (UI) lost 7.73% on Feb. 9 when it announced a 60-cent dividend and Q2 results. Revenue fell by 5.8% Y/Y to $465 million. The results look like a bust. However, the $1.38 EPS translates to a forward P/E of only 18.3 times. Ubiquiti failed to update its shareholders on the company's business conditions ahead. The uncertainty is hurting the stock price. Still, the firm reduced its inventory, which will increase free cash flow next. Debt fell steadily in the last six months.

    In gaming, Take-Two Interactive (TTWO) dropped nearly 9% last Friday when it reported net bookings fell by 3% to $1.34 billion. It took a $53.4 million intangible assets impairment charge. The GAAP net loss is unfortunate as sales for NBA 2K24 during the holiday weakened. Mobile advertising revenue also fell. As a result, shareholders need to wait for Grand Theft Auto VI to propel the company back to profitability and growth.

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