02:55 PM EDT, 07/19/2024 (MT Newswires) -- Newell Brands ( NWL ) is expected to report Q2 earnings at the upper end of the company's guidance and reiterate its full-year 2024 outlook when it releases its quarterly results on July 26, UBS said in a note emailed Friday.

The investment firm projects Q2 earnings of $0.20 per share, near the upper end of Newell's guidance range of $0.18 to $0.21, but below the Visible Alpha/FactSet consensus of $0.22, according to the note.

The consumer goods company is initially looking at 2024 normalized earnings of $0.52 to $0.62 per share and a net sales decline of 8% to 5%.

"Our conversations would suggest that most investors have confidence in the company's ability to deliver on their profit targets, but uncertainty on the top line remains and has led many to question whether there could be negative estimate revisions from here," UBS said.

UBS has a neutral rating on the stock and a $6.50 price target.

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