NEWELL BRANDS INC. 10-Q

Financial Statements (unaudited)

Item 1. Financial Statements NEWELL BRANDS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) (Amounts in millions, except per share amounts) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net sales $ 1,994 $ 1,935 $ 3,543 $ 3,501 Cost of products sold 1,182 1,250 2,218 2,313 Gross profit 812 685 1,325 1,188 Selling, general and administrative expenses 519 508 991 979 Restructuring costs, net 10 6 17 17 Operating income 283 171 317 192 Non-operating expenses: Interest expense, net 87 82 171 154 Loss on extinguishment and modification of debt — 13 — 13 Other expense, net 1 5 12 9 Income before income taxes 195 71 134 16 Income tax provision 89 25 61 7 Net income $ 106 $ 46 $ 73 $ 9 Weighted average common shares outstanding: Basic 425.2 417.8 423.4 417.3 Diluted 430.2 420.9 430.0 421.8 Earnings per share: Basic $ 0.25 $ 0.11 $ 0.17 $ 0.02 Diluted $ 0.25 $ 0.11 $ 0.17 $ 0.02 COMPREHENSIVE INCOME (LOSS) Three Months Ended June 30, Six Months Ended June 30, 2026 2025 2026 2025 Net income $ 106 $ 46 $ 73 $ 9 Other comprehensive income (loss), net of tax: Foreign currency translation adjustments 7 ( 17 ) 16 ( 18 ) Pension and postretirement costs 6 ( 2 ) 9 1 Derivative financial instruments 2 ( 11 ) 6 ( 16 ) Total other comprehensive income (loss), net of tax 15 ( 30 ) 31 ( 33 ) Total comprehensive income (loss) $ 121 $ 16 $ 104 $ ( 24 ) See Notes to Unaudited Condensed Consolidated Financial Statements. 2 Table of Contents NEWELL BRANDS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Amounts in millions, except par values) June 30, 2026 December 31, 2025 Assets: Cash and cash equivalents $ 209 $ 203 Accounts receivable, net 1,025 987 Inventories 1,491 1,281 Prepaid expenses and other current assets 483 237 Total current assets 3,208 2,708 Property, plant and equipment, net 1,175 1,209 Operating lease assets 448 453 Goodwill 3,086 3,101 Other intangible assets, net 1,578 1,634 Deferred income taxes 787 825 Other assets 779 785 Total assets $ 11,061 $ 10,715 Liabilities: Accounts payable $ 1,054 $ 931 Other accrued liabilities 1,364 1,464 Short-term debt and current portion of long-term debt 470 130 Total current liabilities 2,888 2,525 Long-term debt 4,536 4,543 Deferred income taxes 31 50 Operating lease liabilities 422 433 Other noncurrent liabiliti