Newell Brands (NASDAQ:NWL) cut its Q3 and full-year guidance, due to greater than expected pullback in retailer orders and continued inflationary pressures on the consumer. The company now expects Q3 net sales to be in the range of $2.21-$2.32 billion (vs. prior guidance of $2.39-$2.5 billion), compared to the Street estimate of $2.52 billion. Q3 EPS is expected to be in the range of $0.46-$0.51 (vs. prior guidance of $0.50-$0.54), compared to the Street estimate of $0.53.

For the full-year, the company expects net sales in the range of $9.37-$9.58 billion (vs, prior guidance of $9.76-$9.98 billion), compared to the Street estimate of $9.89 billion. Full-year EPS is expected to be in the range of $1.56-$1.70 (vs. prior guidance of $1.79-$1.86), compared to the Street estimate of $1.84.