Revenue during the quarter surged 148.41 percent to $3,266.30 million from $1,314.90 million in the previous year period. Gross margin for the quarter contracted 425 basis points over the previous year period to 34.20 percent. Total expenses were 95.22 percent of quarterly revenues, up from 90.46 percent for the same period last year. That has resulted in a contraction of 476 basis points in operating margin to 4.78 percent.

Operating income for the quarter was $156 million, compared with $125.40 million in the previous year period.

However, the adjusted operating income for the quarter stood at $347.60 million compared to $171.80 million in the prior year period. At the same time, adjusted operating margin contracted 242 basis points in the quarter to 10.64 percent from 13.07 percent in the last year period.

"Our first quarter results provide strong evidence of our teams capacity to perform while we transform," said Newell Brands chief executive officer Michael Polk. "We delivered competitive core sales growth of 2.5 percent despite significant organization and portfolio change. Our core sales results were broad based with growth in all four regions and across four of five segments. Our international growth coupled with very strong e-commerce results more than offset the continuing impact of inventory de-stocking in U.S. mass channels. Our operating margin was well ahead of plan driven by strong cost synergies and stringent discretionary cost management. And we further deleveraged, paying down over $725 million of debt in the quarter, bringing our cumulative debt repayment since the Jarden transaction on April 15, 2016 to $2.8 billion.

Newell Brands Inc. expects revenue to be in the range of $14,520 million to $14,720 million for financial year 2017. For financial year 2017, the company projects diluted earnings per share to be in the range of $3 to $3.20 on adjusted basis.

Cash flow from investing activities was $1,205.70 million for the quarter as against cash outgo of $70 million in the last year period.

The company has spent $834 million cash to carry out financing activities during the quarter as against cash inflow of $8,238.60 million in the last year period.

Cash and cash equivalents stood at $687.50 million as on Mar. 31, 2017, down 91.60 percent or $7,493.40 million from $8,180.90 million on Mar. 31, 2016.

Working capital drops significantly
Newell Brands Inc. has witnessed a decline in the working capital over the last year. It stood at $2,170.50 million as at Mar. 31, 2017, down 73.83 percent or $6,123.50 million from $8,294 million on Mar. 31, 2016. Current ratio was at 1.50 as on Mar. 31, 2017, down from 4.78 on Mar. 31, 2016.

Cash conversion cycle (CCC) has decreased to 62 days for the quarter from 101 days for the last year period. Days sales outstanding went down to 52 days for the quarter compared with 84 days for the same period last year.

Days inventory outstanding has decreased to 52 days for the quarter compared with 90 days for the previous year period. At the same time, days payable outstanding went down to 43 days for the quarter from 73 for the same period last year.