Newell Brands Inc. (NASDAQ:NWL) reported third-quarter results on Friday that fell short of analysts’ expectations, as lower retail inventory levels and weakness in international markets weighed down sales.

The company reported adjusted earnings of 17 cents per share, compared with 16 cents in the prior year period, which was slightly below Wall Street expectations of 18 cents.

Revenue came in at $1.81 billion, missing analysts’ estimates of $1.88 billion, a decline of 7.2% compared with the prior year period, reflecting a core sales decline of 7.4% and favorable foreign exchange.

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Gross margin fell to 34.1% from 34.9% a year earlier, as benefits from productivity and pricing more than offset by headwinds from tariff costs, volume declines, and inflation. Excluding the temporary $24 million impact from one-time China tariffs, gross margin would have increased by 55 basis points.

Adjusted gross margin is 34.5%, compared with 35.4% in the year-ago quarter, while adjusted operating margin fell to 8.9%, compared with 9.5% in the same quarter last year. Adjusted ...