09:49 AM EDT, 10/25/2024 (MT Newswires) -- (Updates to add recent share price movement in the headline and first paragraph.)

Newell Brands ( NWL ) shares were up over 22% in recent Friday trading after the company raised its guidance for 2024 earnings.

The company reported Q3 normalized earnings early Friday of $0.16 per diluted share, down from $0.37 a year earlier.

Analysts polled by Capital IQ expected $0.16.

Net sales for the quarter ended Sept. 30 were $1.95 billion, down from $2.05 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.96 billion.

For Q4, the company expects normalized EPS of $0.11 to $0.14. Analysts polled by Capital IQ expect $0.13. Net sales for the quarter are expected to drop by 4% to 7%.

For full-year 2024, the company now expects normalized EPS of $0.63 to $0.66, up from its prior outlook of $0.60 to $0.65. Analysts polled by Capital IQ expect $0.64. Net sales for the year are expected to decline by 6% to 7%.

Price: 8.81, Change: +1.63, Percent Change: +22.65