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Spectrum reports surprise loss while revenue topped forecast, as ‘unprecedented inflation’ offset price increases
Spectrum Brands Holdings Inc. reported Friday a surprise fiscal first-quarter adjusted loss even as revenue topped expectations, as the consumer brands company said price increases weren’t enough to offset “unprecedented inflation.” Net income for the quarter to Jan. 2 fell to $8.2 million, or 20 cents a share, from $72.1 million, or $1.68 a share, in the year ago period. Excluding nonrecurring items and discontinued operations, the company swung to an adjusted per-share loss of 6 from earnings
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