SPB Filings — Spectrum Brands Holdings, Inc. - FilingSpy
SPB
Spectrum Brands Holdings, Inc.
A maker of household goods, Spectrum Brands sells pet food and aquatics gear (Tetra, GloFish), bug repellents and cleaning products, and small appliances like Remington grooming tools and Black+Decker kitchen gadgets. It traces its roots to the French Battery Company, founded in Madison, Wisconsin in 1906, which grew into Rayovac before taking the Spectrum Brands name in 2005. Its GloFish brand sells genetically modified aquarium fish that glow in fluorescent colors—originally developed by scientists as pollution detectors.
Spectrum Brands books $60.6M tariff refund, lifting gross margin to 49.2% as Home & Garden revenue rises 19.1%.
A one-time tariff refund reshaped the quarter. rose 7.7% to $753.3 million and expanded 11.4 points to 49.2%, driven almost entirely by a $60.6 million IEEPA tariff refund recognized in cost of goods sold. The company also took a $104.0 million in its Home & Personal Care , the business it is trying to separate.
Key takeaways
reached 49.2%, up from 37.8% a year ago, after the company recognized a $60.6 million one-time refund of IEEPA tariffs on Chinese imports in cost of goods sold.
Home & Garden rose 19.1% organically, driven by strong replenishment volumes for Spectracide and Hot Shot products during the peak seasonal quarter.
The Home & Personal Care recorded a $104.0 million on , even as its returned to growth at 1.1% for the quarter.
Section summaries
Management's Discussion and Analysis
Consolidated Q3 FY2026 net sales rose 7.7% to $753.3M, driven by H&G volume and $60.6M in IEEPA tariff refunds boosting gross margin.
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Consolidated increased 7.7% to $753.3M, with of 6.6%, led by a 19.1% organic surge in Home & Garden (H&G) on strong replenishment volumes for Spectracide and Hot Shot products.
Global Pet Care rose 2.9%, with North American market share gains in chews and treats and grooming partially offset by lower EMEA companion animal volumes ahead of a system implementation.
The company closed a strategic investment from Oaktree in its Home & Personal Care business, receiving $127.0 million in proceeds via and a term loan, while continuing to consolidate the .
Year-to-date improved $128.1 million to $161.2 million, and total liquidity stood at $753.7 million at quarter-end.
What changed
The tariff disruption that paused shipments in Q3 FY2025 has reversed: imports were reinstated within that period, and the company has now recovered $60.6 million in tariffs paid, settling the question of whether the disruption would cause lasting damage.
Home & Garden's 19.1% in Q3 FY2026 confirms that the pull-forward and subsequent reversal pattern of the prior year has normalized, with the now benefiting from genuine replenishment demand rather than timing shifts.
Home & Personal Care's returned to growth at 1.1% after a 10.7% organic decline in Q2 FY2026, but the $104.0 million signals that the 's valuation continues to deteriorate ahead of the planned separation.
Global Pet Care's of 2.9% represents a stabilization after the 11.3% volume decline in Q3 FY2025, though the growth rate is well below the double-digit increases flagged as potentially unsustainable in Q2 FY2026.
What to watch
Whether the $104.0 million in Home & Personal Care prompts a definitive announcement on the structure, timeline, or valuation of the 's separation.
Whether normalizes in Q4 FY2026 after the $60.6 million one-time tariff refund rolls off, and what the underlying run-rate margin is without that benefit.
Whether Home & Garden's 19.1% is sustained through the remainder of the seasonal selling season or if it reflects a one-time replenishment cycle.
The terms and impact of the Oaktree strategic investment on the Home & Personal Care separation, including any or change in control provisions tied to the .
margin expanded 1,140 to 49.2%, primarily due to a $60.6M one-time IEEPA tariff refund recognized in cost of goods sold, along with favorable pricing and mix.
Home and Personal Care (HPC) organic sales grew 1.1% in Q3 but declined 7.4% year-to-date, pressured by North American volume softness and ; the recorded a $104.0M non-cash on indefinite-lived .
Global Pet Care (GPC) organic sales rose 2.9% on North American market share gains in chews & treats and grooming, partially offset by lower EMEA companion animal volumes ahead of a system implementation.
improved $128.1M to $161.2M year-to-date, driven by higher profitability and lower ; total liquidity stood at $753.7M, including $258.9M in cash and $494.8M in availability.
The company closed a strategic investment from Oaktree in its HPC business, receiving $127.0M in proceeds via convertible preferred equity and a term loan, and continues to consolidate the .
Quantitative and Qualitative Disclosures About Market Risk
Market Risk Factors No material change in the Company’s market risk has occurred during the nine month period ended June 28, 2026. For additional information, refer to Note 7 - Debt and Note 9- Derivatives included in the Notes to the Condensed Consolidated Financial Statements…
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Market Risk Factors
No material change in the Company’s market risk has occurred during the nine month period ended June 28, 2026. For additional information, refer to Note 7 - Debt and Note 9- Derivatives included in the Notes to the Condensed Consolidated Financial Statements and to Part II, Item 7A of our 2025 Annual Report.
Litigation We are a defendant in various litigation matters generally arising in the ordinary course of business. See Item 1A - Risk Factors below and Note 15 – Commitments and Contingencies included in the Notes to the Condensed Consolidated Financial Statements. Based on infor…
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Litigation
We are a defendant in various litigation matters generally arising in the ordinary course of business. See Item 1A - Risk Factors below and Note 15 – Commitments and Contingencies included in the Notes to the Condensed Consolidated Financial Statements. Based on information currently available, we do not believe that any matters or proceedings presently pending will have a material adverse effect on our results of operations, financial condition, liquidity or cash flows.
Information about our risk factors is contained in Item 1A of our 2025 Annual Report. There have been no material changes from the risk factors discussed in our 2025 Annual Report.
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Information about our risk factors is contained in Item 1A of our 2025 Annual Report. There have been no material changes from the risk factors discussed in our 2025 Annual Report.