Newell Brands, parent company of Rubbermaid Commercial Products (RCP), has reported fourth-quarter net sales of US$2.8 billion, up 4.3% from the same quarter last year.
Newell’s normalised net income rose to $180 million, or $0.42 per share, down from $238 million, or $0.56 per share, a year earlier.
The company’s commercial solutions division posted net sales of $503 million, an increase of 1.7 per cent from $503 million in the prior year.
“We achieved an important milestone in 2021, as we returned the company to core sales growth, with strong results across each business unit and geographic region,” said Ravi Saligram, Newell Brands President and CEO.
“I am proud of the way our team has navigated through a difficult operating and inflationary backdrop, delivering more than 12 percent growth in both core sales and normalised operating income, with further improvement on complexity reduction, productivity, cash conversion cycle and a robust innovation pipeline,” Saligram said.
“As we look to 2022, we will continue to act with speed and agility to address external headwinds, with a laser focus on gross margins, and execute on our strategic objective to drive sustainable and profitable growth, while building competitive advantage and serving as a force for good. I continue to believe that Newell’s best days are ahead of us and that our focused and deliberate actions will drive strong shareholder returns.”
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