Newell Brands, parent company of Rubbermaid Commercial Products (RCP), has reported first-quarter net sales of US$1.7 billion, a decline of 8.4% from the same quarter last year.

Newell’s operating income was $16 million compared with operating loss of $36 million in the prior year period. The company’s home commercial solutions division posted net sales of $893 million, a decline of 8% from $971 million in the prior year. 

“The decisive actions we’ve taken as part of our new strategy have led to excellent progress on the major operational and financial priorities for this year,” said Chris Peterson, Newell president and CEO. “During the first quarter, core sales performance improved sequentially, normalized operating margin nearly doubled versus last year, and we meaningfully increased operating cash flow. We remain confident in our ability to strengthen the company’s performance and create value for our stakeholders over time.”

Rubbermaid Commercial Products
Headquartered in Huntersville, North Carolina, Rubbermaid Commercial Products is a manufacturer of products for commercial and institutional markets worldwide. For more information, visit rubbermaidcommercial.com.