Newell Brands (NWL) Q1 2023 Earnings Call Transcript

For the period ending March 31, 2023

April 28, 2023 8:30 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good morning, and welcome to Newell Brands' First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After a brief discussion by management, we will open up the call for questions. [Operator Instructions] As a reminder, today's conference call is being recorded. A live webcast for this call is available at ir.newellbrands.com.

I will now turn the call over to Sofya Tsinis, Vice President of Investor Relations. Ms. Tsinis, you may begin.

Sofya Tsinis

Thank you. Good morning, everyone. Welcome to Newell Brands' first quarter earnings call. On the call with me today are Ravi Saligram, our CEO; Chris Peterson, our President; and Mark Erceg, our CFO.

Before we begin, I'd like to inform you that during the course of today's call, we will be making forward-looking statements, which involve risks and uncertainties. Actual results and outcomes may differ materially, and we undertake no obligation to update forward-looking statements. I refer you to the cautionary language and risk factors available in our earnings release, our Form 10-K, Form 10-Q and other SEC filings available on our Investor Relations website for a further discussion of the factors affecting forward-looking statements.

Please also recognize that today's remarks will refer to certain non-GAAP financial measures, including those referred to as normalized measures. We believe these non-GAAP measures are useful to investors, although they should not be considered superior to the measures presented in accordance with GAAP. Explanations of these non-GAAP measures and available reconciliations between GAAP and non-GAAP measures can be found in today's earnings release and tables that were furnished to the SEC.

Thank you. And now, I'll turn the call over to Ravi.

Ravi Saligram

Thank you, Sofya. Good morning, everyone, and welcome to our first quarter call. I'll keep my remarks brief. As Chris and Mark will take you through our results and outlook for the balance of the year. This is my last earnings call with Newell Brands. As many of you know, in February, we announced that I'll be retiring on May 16 and Chris will take over as the next CEO of the company. This is a historic event for us, as Chris will be the first Internal CEO successor in Newell’s recent history.