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Fortune Brands
🇺🇸 NYSE:FBIN
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Mar 30, 2024

Fortune Brands Q1 2024 Earnings Report

Fortune Brands reported first quarter sales and margin results that exceeded expectations, driven by strong execution of strategy.

Key Takeaways

Fortune Brands Innovations reported a 7% increase in net sales to $1.1 billion for Q1 2024. EPS increased by 13% to $0.76, and EPS before charges/gains increased by 20% to $0.83. The company reaffirmed its full-year 2024 guidance.

Q1 2024 sales increased by 7% to $1.1 billion compared to Q1 2023.

Organic sales decreased by 3% versus Q1 2023.

Q1 2024 EPS was $0.76, a 13% increase year-over-year.

EPS before charges/gains was $0.83, a 20% increase year-over-year.

Total Revenue
$1.11B
Previous year: $1.04B
+6.7%
EPS
$0.83
Previous year: $0.69
+20.3%
Operating Margin Before Charges/Gains
15.1%
Previous year: 13.1%
+15.3%
Gross Profit
$470M
Previous year: $1.04B
-54.8%
Cash and Equivalents
$360M
Previous year: $539M
-33.3%
Free Cash Flow
-$136M
Previous year: $35.8M
-479.6%
Total Assets
$6.79B
Previous year: $5.97B
+13.7%

Fortune Brands

Fortune Brands

Forward Guidance

Fortune Brands reaffirmed its full year 2024 financial guidance, expecting to outperform the market amid a dynamic external environment.

Positive Outlook

  • Prioritize above-market sales growth opportunities
  • Focus on margin expansion
  • Focus on cash generation
  • Continue to invest in key strategic priorities
  • Maintain a returns-focused view

Company Overview

Full financial data and analysis

View Fortune Brands