BUZZ - "Sharpie" maker Newell Brands forecasts Q4 profit below expectations, shares fall

October 30 - ** Shares of “Sharpie” pen maker Newell Brands NWL.O fell about 7% in premarket trading, quoted at $4.72

** Impacted by persistent inflationary pressures, the company expects fourth-quarter profit to come in below analysts’ expectations

** It expects fourth-quarter adjusted earnings per share of 17 to 19 cents, lower than the 19 cents expected — according to data compiled by LSEG

** However, the company raised its full-year net sales growth forecast to 2%–3% from its previous outlook of 1%–2%

** Third-quarter adjusted earnings per share were in line with market expectations

** NWL reported third-quarter sales of $1.87 billion, higher than the expected $1.86 billion

** As of the close of the previous trading day, NWL has risen about 37% year-to-date

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