nwl-20260331

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☒ Quarterly Report Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

For the Quarterly Period Ended March 31, 2026

Commission File Number 1-9608

NEWELL BRANDS INC.

(Exact name of registrant as specified in its charter)


Delaware						36-3514169
(State or other jurisdiction of incorporation or organization)						(I.R.S. Employer Identification No.)

5 Concourse Parkway NE, 8th Floor,

Atlanta, Georgia 30328

(Address of principal executive offices)

(Zip Code)

Registrant’s telephone number, including area code: (770) 418-7000

Securities registered pursuant to Section 12(b) of the Act:

TITLE OF EACH CLASS

TRADING SYMBOL

NAME OF EXCHANGE ON WHICH REGISTERED

Common stock, $1 par value per share

NWL

Nasdaq Stock Market LLC

Securities registered pursuant to Section 12(g) of the Act: None

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:


Large Accelerated Filer	☒	Accelerated filer	☐
Non-accelerated filer	☐	Smaller reporting company	☐
Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Number of shares of common stock outstanding (net of treasury shares) as of April 27, 2026: 424.9 million.


TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION			2
Item 1. Financial Statements			2
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations			21
Item 3. Quantitative and Qualitative Disclosures About Market Risk			28
Item 4. Controls and Procedures			28
PART II. OTHER INFORMATION			29
Item 1. Legal Proceedings			29
Item 1A. Risk Factors			29
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities			29
Item 5. Other Information			29
Item 6. Exhibits			30
SIGNATURES			31


	Three Months Ended March 31,
		2026		2025
Net sales		$	1,549	$	1,566
Cost of products sold		1,036		1,063
Gross profit		513		503
Selling, general and administrative expenses		472		471
Restructuring costs, net		7		11

Operating income		34		21
Non-operating expenses:
Interest expense, net		84		72

Other expense, net		11		4
Loss before income taxes		(61)		(55)
Income tax benefit		(28)		(18)
Net loss		$	(33)	$	(37)

Weighted average common shares outstanding:
Basic		421.6		416.8
Diluted		421.6		416.8

Loss per share:
Basic		$	(0.08)	$	(0.09)
Diluted		$	(0.08)	$	(0.09)


	March 31, 2026		December 31, 2025
Assets:
Cash and cash equivalents	$	201	$	203
Accounts receivable, net	893		987
Inventories	1,493		1,281
Prepaid expenses and other current assets	326		237
Total current assets	2,913		2,708
Property, plant and equipment, net	1,194		1,209
Operating lease assets	467		453
Goodwill	3,092		3,101
Other intangible assets, net	1,607		1,634
Deferred income taxes	814		825
Other assets	772		785
Total assets	$	10,859	$	10,715

Liabilities:
Accounts payable	$	1,045	$	931
Other accrued liabilities	1,325		1,464
Short-term debt and current portion of long-term debt	425		130
Total current liabilities	2,795		2,525
Long-term debt	4,540		4,543
Deferred income taxes	5		50
Operating lease liabilities	443		433
Other noncurrent liabilities	734		773
Total liabilities	8,517		8,324
Commitments and contingencies (Footnote 14)
Stockholders’ equity:
Preferred stock (10.0 authorized shares, $1.00 par value, no shares issued at March 31, 2026 and December 31, 2025)	—		—
Common stock (800.0 authorized shares, $1.00 par value, 456.6 shares and 447.1 shares issued at March 31, 2026 and December 31, 2025, respectively)	457		447
Treasury stock, at cost (31.7 shares and 27.9 shares at March 31, 2026 and December 31, 2025, respectively)	(662)		(644)
Additional paid-in capital	6,781		6,805
Retained deficit	(3,260)		(3,227)
Accumulated other comprehensive loss	(974)		(990)
Total stockholders’ equity	2,342		2,391
Total liabilities and stockholders’ equity	$	10,859	$	10,715


	Common Stock		Treasury Stock		Additional Paid-In Capital		Retained Deficit		Accumulated Other Comprehensive Income (Loss)		Total Stockholders’ Equity






Balance at December 31, 2025	$	447	$	(644)	$	6,805	$	(3,227)	$	(990)	$	2,391
Comprehensive income (loss)	—		—		—		(33)		16		(17)
Dividends declared on common stock - $0.07 per share	—		—		(31)		—		—		(31)
Equity compensation, net of tax	10		(18)		7		—		—		(1)
Balance at March 31, 2026	$	457	$	(662)	$	6,781	$	(3,260)	$	(974)	$	2,342


Balance at December 31, 2025	$	11
Invoices participating in the SF Program	13
Invoices paid to the third-party vendor	(14)
Balance at March 31, 2026	$	10


	Cumulative Translation Adjustment		Pension and Postretirement Costs		Derivative Financial Instruments		AOCL
Balance at December 31, 2025	$	(783)	$	(195)	$	(12)	$	(990)
Other comprehensive income before reclassifications (a)	9		3		1		13
Amounts reclassified to earnings (b)	—		—		3		3
Net current period other comprehensive income	9		3		4		16
Balance at March 31, 2026	$	(774)	$	(192)	$	(8)	$	(974)


Balance at December 31, 2025	$	34
Restructuring costs, net	7
Payments	(23)

Balance at March 31, 2026	$	18


	March 31, 2026		December 31, 2025
Raw materials and supplies	$	193	$	165
Work-in-process	155		159
Finished products	1,145		957
	$	1,493	$	1,281


	March 31, 2026		December 31, 2025
Land	$	68	$	68
Buildings and improvements	547		543
Machinery and equipment	1,651		1,642
	2,266		2,253
Less: Accumulated depreciation	(1,072)		(1,044)
	$	1,194	$	1,209


					March 31, 2026
Segments	Net Book Value at December 31, 2025		Foreign Exchange		Net Book Value		Gross Carrying Amount		Accumulated Impairment Charges
Home and Commercial Solutions	$	747	$	—	$	747	$	4,052	$	(3,305)
Learning and Development	2,354		(9)		2,345		3,432		(1,087)
Outdoor and Recreation	—		—		—		788		(788)
	$	3,101	$	(9)	$	3,092	$	8,272	$	(5,180)


	Three Months Ended March 31,
	2026		2025
Cash flows from operating activities:
Net loss	$	(33)	$	(37)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	79		75


Deferred income taxes	(44)		46
Stock based compensation expense	17		16

Other, net	(5)		(5)
Changes in operating accounts:
Accounts receivable	93		3
Inventories	(213)		(168)
Accounts payable	122		147
Accrued liabilities and other, net	(249)		(290)
Net cash used in operating activities	(233)		(213)
Cash flows from investing activities:
Capital expenditures	(37)		(59)

Proceeds from settlement of swaps	9		9
Other investing activities, net	(1)		23
Net cash used in investing activities	(29)		(27)
Cash flows from financing activities:
Proceeds from short-term debt, net	295		310






Cash dividends	(36)		(31)
Other financing activities, net	27		(9)
Net cash provided by financing activities	286		270
Exchange rate effect on cash, cash equivalents and restricted cash	(1)		3
Increase in cash, cash equivalents and restricted cash	23		33
Cash, cash equivalents and restricted cash at beginning of period	220		219
Cash, cash equivalents and restricted cash at end of period	$	243	$	252


	March 31, 2026						December 31, 2025
	Gross Carrying Amount		Accumulated Amortization		Net Book Value		Gross Carrying Amount		Accumulated Amortization		Net Book Value
Tradenames — indefinite life (a)	$	443	$	—	$	443	$	553	$	—	$	553
Tradenames — other (a)	646		(202)		444		537		(186)		351
Capitalized software	220		(103)		117		212		(95)		117
Customer relationships and distributor channels	1,014		(411)		603		1,013		(400)		613
	$	2,323	$	(716)	$	1,607	$	2,315	$	(681)	$	1,634


	March 31, 2026		December 31, 2025
Customer accruals	$	485	$	616
Accrued compensation	120		168

Operating lease liabilities	115		113



Other	605		567
	$	1,325	$	1,464


	March 31, 2026		December 31, 2025
6.375% senior notes due 2027	$	495	$	497
8.500% senior notes due 2028	1,240		1,239
6.625% senior notes due 2029	490		492
6.375% senior notes due 2030	743		743
6.625% senior notes due 2032	495		495
5.375% senior notes due 2036	417		417
5.500% senior notes due 2046	658		658
Revolving credit facility (a)	425		130
Other debt	2		2
Total debt	4,965		4,673
Short-term debt and current portion of long-term debt	(425)		(130)
Long-term debt	$	4,540	$	4,543


	March 31, 2026				December 31, 2025
	Fair Value		Book Value		Fair Value		Book Value
Senior notes	$	4,423	$	4,538	$	4,493	$	4,541


	Three Months Ended March 31, 2026								Three Months Ended March 31, 2025
	Consolidated		Home and Commercial Solutions		Learning and Development		Outdoor and Recreation		Consolidated		Home and Commercial Solutions		Learning and Development		Outdoor and Recreation
Net sales (a)	$	1,549	$	780	$	594	$	175	$	1,566	$	812	$	572	$	182
Cost of products sold	1,036		564		345		127		1,063		591		334		138
Segment SG&A	412		217		140		55		409		222		139		48
Other segment costs (b)	3		2		1		—		3		1		1		1
Segment operating income (loss)	$	98	$	(3)	$	108	$	(7)	$	91	$	(2)	$	98	$	(5)
Corporate expenses (c)	64								70
Operating income	$	34							$	21
Interest expense, net	84								72

Other expense, net	11								4
Loss before income taxes	$	(61)							$	(55)

SEC Form 10-Q filed by Newell Brands Inc.