Newell Brands Inc.NWL

Newell Brands is a global consumer-goods house built on brands such as Rubbermaid, Sharpie, Graco, Coleman, Yankee Candle, Paper Mate, FoodSaver, Dymo, EXPO, Elmer’s, Oster, NUK, Spontex, and Campingaz. The company’s press release frames itself as “a leading global consumer goods company with a strong portfolio of well-known brands,” but the latest 10-Q tells a different story: revenue of $1.55bn in the first quarter was followed by a $33m net loss and a $233m cash haemorrhage from operating activities. (source: Press Release dated May 1, 2026, https://www.sec.gov/Archives/edgar/data/814453/000081445326000013/exhibit991_q1xmarchx2026.htm)

The company’s own 10-Q labels operating income at $34m, which is less a profit and more a rounding error against $1.49bn of inventory sitting in warehouses and on retail floors. That inventory build of $213m in the quarter is the physical footprint of a turnaround plan that has yet to turn the cash register positive. (source: 10-Q, period ending 2026-03-31, https://www.sec.gov/Archives/edgar/data/814453/000081445326000021/nwl-20260624.htm)

Net cash used in operating activities stood at $-233m for the quarter, while total assets were $10.86bn and liabilities $8.52bn, leaving shareholders’ equity at $2.34bn-a figure that looks less like a balance-sheet strength and more like the difference between what the company owns and what it owes. Cash and equivalents sat at $201m, which is roughly the price of a very large acquisition, not a rainy-day fund. (source: 10-Q, period ending 2026-03-31, https://www.sec.gov/Archives/edgar/data/814453/000081445326000021/nwl-20260624.htm)

The company’s sustainability push shows up in product pages and press kits-Sistema food-storage containers now use at least 35% ocean-bound plastic-but the filing trail tells the real story. R&D expense for 2025 clocked in at $114m, a sum that has yet to translate into earnings per share. Diluted EPS for the quarter ended March 31 2026 was negative $0.08 on 421.6m diluted shares. (source: 10-K, period ending 2025-12-31; 10-Q, period ending 2026-03-31, https://www.sec.gov/Archives/edgar/data/814453/000081445326000021/nwl-20260624.htm)

The executive incentive machinery is the clearest window into management’s view of value creation. Under the 2026 Long-Term Incentive Plan, payouts hinge on “Annual Adjusted EPS Performance” and “Free Cash Flow Productivity” over a three-year window ending December 31 2028, with a payout range from 0% to 200% of target. Notably, if Adjusted Net Income is less than or equal to $1, it is deemed to be $1 for purposes of the calculation-an accounting sleight-of-hand that ensures no zero payouts unless the company somehow loses money for three straight years. (source: Exhibit 10.1 to Current Report on Form 8-K, https://www.sec.gov/Archives/edgar/data/814453/000119312526051284/d110612dex101.htm)

The company’s own management-bonus plan, amended and restated effective January 1 2026, defines “Years of Service” as employment from the most recent hire date, including predecessor companies-language that quietly imports every acquisition’s legacy headcount into the bonus math. Meanwhile, the CEO’s 2026 restricted stock units are tied to the same performance targets, with payouts deferred until after the 2028 window closes. (source: Amended and Restated Management Bonus Plan, https://www.sec.gov/Archives/edgar/data/814453/000081445326000017/exhibit104-amendedandresta.htm; CEO RSU agreement, https://www.sec.gov/Archives/edgar/data/814453/000081445326000017/exhibit103-formof2026restr.htm)

If you want to chart the story, the SEC EDGAR filing index is the cleanest route to every document referenced here, while the company-facts JSON parses the XBRL line items into digestible data. Neither tool reveals a dividend, a buyback, or an earnings beat-because none are on offer in the latest filings. (source: SEC EDGAR index, https://www.sec.gov/edgar/browse/?CIK=814453; company-facts JSON, https://data.sec.gov/api/xbrl/companyfacts/CIK0000814453.json)