Spectrum Brands Holdings, Inc.

spectrumbrands.com

What Do They Do?

Sells pet food and care, pest-control and cleaning products, and small home and personal-care appliances to retailers, trade distributors and consumers.

How Do They Make Money?

Retailers, wholesalers, distributors and some consumers buy its products; most product sales are recorded when goods ship. It also earns fees over time for letting third parties use its brands, and charges customers for aquarium installation and maintenance.

revenue

Segment	Share	How money arrives
Product Sales Sold outright	99%	Sold outright
Licensing Licensed	0.6% FY2022: 0.7%	Licensed
Service and other	0.2% FY2022: 0.2%

Who Are Their Customers?

The company sells to retailers, wholesalers and distributors through its sales teams and brokers; consumers can also buy directly through online marketplaces, brand websites and direct-response television.

Do Revenues Turn Into Profits?

Yes. It kept 4 cents of every revenue dollar as net income in FY2025 and turned 6 cents into free cash flow.

Operating income, FY2025

4% of revenue

▼ −27% vs FY2024 ($170.6M, 6%)

Net income, FY2025

4% of revenue

▼ −20% vs FY2024 ($124.8M, 4%)

Free cash flow, FY2025

6% of revenue

▲ +39% vs FY2024 ($118.6M, 4%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q3 FY2026, the three months to Jun 28, 2026

Revenue: ▲ +8%; vs $699.6M in Q3 FY2025
Net income: ▼ Now a loss; vs $19.9M in Q3 FY2025

Product sales share of revenue vs 99.2% in Q3 FY2025

Aug 7, 2026 Raises adjusted EBITDA outlook It kept its net sales outlook at flat to up low single digits and raised its adjusted EBITDA expectation, excluding tariff refunds, to up mid single digits.
May 4, 2026 Oaktree agreed to invest in the Home and Personal Care business The $127 million agreement combines preferred equity and a term loan; Oaktree is expected to hold approximately 27% of HPC after closing.

Flat. Revenue was $2.8B in FY2025, about the same as the $3B of FY2021.

More direct-to-consumer sales The earlier report said the Tristar acquisition expanded direct-to-consumer capabilities that the company expected to use more often; the latest says HPC sales also go directly to consumers through television, brand websites and online marketplaces.

Revenue over time

Product Sales Licensing Service and other

$5B$2.5B$0

FY2021 FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Mars, Nestle Purina, Central Garden & Pet, The Scotts Miracle-Gro, S.C. Johnson & Son, SBM, Henkel, Bona, Procter & Gamble, Newell Brands, De’Longhi America, SharkNinja, Hamilton Beach Holding, Sensio, SEB, Whirlpool, Conair, Koninklijke Philips Electronics, Donlim, and Gourmia

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