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3001 Deming Way Middleton , WI 53562-1431 P.O. Box 620992 Middleton , WI 53562-0992 ( 608 ) 275-3340 For Immediate Release Exhibit 99.1 Spectrum Brands Investor / Media Contact : Kevin Kim 608-278-6148 • • Spectrum Brands Holdings Reports Fiscal 2021 First Quarter Results First Quarter Results Reflected Exceptional Sales Growth and Strong Operating Leverage Net Sales Increased 31.4 % and Organic Net Sales Increased 27.8 % , with Growth Across All Business Units • GAAP Net Income From Continuing Operations Increased $ 110.9 Million to $ 73.2 Million • • • Adjusted EBITDA Increased $ 101.9 Million or 99.7 % to $ 204.1 Million Maintained Strong Financial Flexibility with Over $ 800 million of Total Liquidity Raising 2021 Earnings Framework to Reflect Expected Net Sales and Adjusted EBITDA Growth of High Single - Digits Middleton , WI , February 5 , 2021 - Spectrum Brands Holdings , Inc. ( NYSE : SPB ; “ Spectrum Brands " or the " Company " ) , a leading global branded consumer products and home essentials company focused on driving innovation and providing exceptional customer service , today reported results from continuing operations for the first quarter of fiscal 2021 ended January 3 , 2021 . " Our financial results for Q1 reflected another quarter of exceptional top line growth and operating leverage , with net income from continuing operations up $ 111 million and adjusted EBITDA doubling to $ 204 million . This growth was a combination of delivering on strong demand for our products as a home essentials company and restocking of retailer inventory levels . More importantly , our Q1 performance reflected yet another quarter of operational excellence , as we prioritize consistent delivery of results for our long term stakeholders . Additionally during the quarter , we repurchased $ 42.3 million of Spectrum shares , and by the end of January , sold our remaining Energizer shares , which further strengthens our balance sheet and adds to our liquidity position , " said David Maura , Chairman and Chief Executive Officer of Spectrum Brands . " Our Q1 sales growth of 31 % reflected growth across all business units , with another quarter of strong POS and improved supply chain performance . As discussed on our prior Earnings call , overall our businesses continued to benefit from supply chain recovery , particularly in our Hardware and Home Improvement business which was a big contributor to this quarter's results with sales up 37 % or $ 111 million . We achieved double - digit sales growth across all business units , and e - commerce sales growth of over 54 % . Demand for our products based on retailer orders , improved brand awareness from our advertising and promotional investments and macro data gives us confidence in raising our net sales outlook for the year to high single - digit growth " said Mr. Maura . Page 1/17