The Atlanta-based consumer goods company reported normalized earnings per share of 78 cents on net profit of $376.9 million, up from EPS of 62 cents a share on net profit of $168.1 million a year earlier. Analysts were looking for earnings of 73 cents a share.
Newell Brands posted sales of $3.95 billion, up 3% year on year, but below the market consensus of $4.06 billion.
The company attributed the robust bottom line to core sales growth, synergies emerging from the acquisition of Jarden, and other cost savings.
"We delivered very good performance in the third quarter while simultaneously driving substantial organization and portfolio change," said CEO Michael Polk. "Our third-quarter Writing, Baby, Food, and Appliances growth was once again very strong, resulting in competitive levels of quarterly core sales growth and leading levels year to date."
The company also raised its core sales growth and normalized EPS "into the top half of our previous 2016 guidance ranges," the company said.
The company said it expects adjusted profit of $2.85 to $2.90 a share in 2016, compared with earlier forecasts of $2.75 to $2.90. It expects core sales to increase 3.5% to 4.0%, higher than earlier projections.