Thanks to a diverse portfolio and strong execution by employees, Newell Brands achieved solid Q2 2022 financial results. Core sales increased on top of a challenging comparison from the prior year, resulting in eight consecutive quarters of growth. Core sales grew in four out of seven businesses: Writing, Commercial, Baby and Outdoor & Recreation and six of our top 10 brands grew, including Sharpie, Paper Mate, Expo, Rubbermaid, Ball and Rubbermaid Commercial Products.
Newell Brands has announced impressive financial results for FY2021 and Q4. After several years of declines, 2021 results showed a return to growth due to the sharpening of brand positioning, strengthening the marketing and innovation muscle, leveraging consumer insights and foresights and capitalizing on consumer trends. FY2021 Core sales increased 12.5 percent, as each Business Unit grew versus last year and on a two-year stacked basis. This was fueled by strong consumption in the U.S. relative to both 2020 and 2019 pre-pandemic levels.
Newell Brands has announced a fifth consecutive quarter of core sales growth and sixth straight quarter of domestic consumption growth. Q3 net sales increased 3.3 percent and core sales increased 3.2 percent, the high-end of the evergreen target, and top- and bottom-line outlooks have been raised for full year 2021. In the press release announcing results, Ravi Saligram, Newell Brands President and CEO, shared the top performing businesses and brands, consumer buying patterns, industry challenges and company strategy, among several other impactful topics specific to quarter three. Additionally, Chris Peterson, Newell Brands Chief Financial Officer and President, Business Operations, commented on topics including operating profit, top-line forecast, supply chain challenges and projections for the future. Further details surrounding Project Ovid, a new supply chain initiative, were shared to provide context to the future of Newell Brands’ operating model.
We are going through a tumultuous period and traumatic time. First COVID-19 and a spring for some spent sheltering at home. Just when we were beginning to see a faint light at the end of the Corona tunnel, the nation looked in horror at the brutal killing of George Floyd, a black man in Minneapolis, while in police custody.
As the COVID-19 pandemic continues to have unprecedented effects on the world as we know it, Newell Brands is closely monitoring the situation and making decisions in the best interest of our employees, consumers, customers and communities. We recognize the role our products play in your daily lives—from food preservation and workplace sanitation to childcare and relaxation with home fragrances—and their importance in these uncertain times. As we respond to the ongoing situation, we are doing everything possible to deliver excellent support to our partners and delight our consumers while prioritizing the health and wellbeing of our employees.
Spring is the perfect time to explore the great outdoors, go for an afternoon stroll or take in the sights and scents of nature. And in celebration of this season, we’re featuring just a few of the newest products and innovations from our talented team of designers and creative minds here at Newell Brands.