Shares of Newell Brands Inc. showed a more than 7 percent increase in the pre-market trading on Friday, pushing the price to $7.48. This rise was due to the company reporting a first-quarter performance that surpassed expectations.
During the first quarter, the company saw a loss of $9 million, which equates to 0.02 per share. This was a notable improvement from the same period in the previous year, when the firm reported a loss of $102 million or $0.25 per share.
If one excludes specific items from the equation, this loss was reduced to $2 million, or a breakeven per share. This performance surprisingly beat analysts' predictions, as represented by a Thomson-Reuters poll, which had forecast a loss of $0.07 per share.
Although the company's revenue for the quarter fell to $1.653 billion from $1.805 billion the prior year, it surpassed the consensus estimate of $1.64 billion.
Newell Brands' shares ended at $6.94, a decrease of 1.42 percent. Over the last year, the firm's shares have traded within a range of $6.50 to $12.32.
