Reports Q4 revenue $2.29B, consensus $2.23B. "Fourth quarter results were in line with our expectations and brought to a close a difficult second half. The business continued to be impacted by a tough operating environment, including slowing consumer demand for general merchandise categories, as well as inventory reductions at retail," said Ravi Saligram, Newell Brands CEO. "We have been taking decisive actions to effectively navigate the current environment, while positioning the organization for long-term success. Several weeks ago we announced Project Phoenix through which we expect to further simplify and strengthen our company by leveraging the scale and power of One Newell to optimize our cost structure and operate more efficiently. We expect the new operating model to unlock additional growth opportunities for the business over time and bring us even closer to our customers and consumers."
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