By Rob Curran
Spectrum Brands Holdings Inc. raised its outlook for fiscal 2022 gross sales and adjusted working earnings, anticipating that the destructive results of the Ukraine battle and different problems can be offset by the influence of an acquisition.
The maker of shopper merchandise and residential necessities such as Kwikset locks and Hot Shot bug spray boosted its gross sales development projection for the fiscal yr ending in September to the mid-to-high teenagers share vary, in contrast with the mid-to-high single-digits share vary beforehand.
The new projection displays fallout from the battle and unfavorable seasonal climate for its home-and-garden provide manufacturers, offset by the optimistic influence of the lately closed acquisition of Tristar Products’ kitchen-appliance and cookware operations, it mentioned. Foreign-exchange volatility can also be anticipated to weigh. The greenback has surged to two-decade highs in latest weeks.
The firm mentioned it now anticipates fiscal 2022 adjusted earnings earlier than curiosity, taxes, depreciation and amortization rising within the mid-single-digits share vary, in contrast with a earlier estimate of development within the low-single-digits share vary.
Spectrum Brands reiterated its February projection of $310 million to $330 million of extra inflation results for the fiscal yr, most of which it intends to offset by value will increase.
Write to Rob Curran at rob.curran@dowjones.com
