Fortune Brands Q2 2022 Earnings Report
Key Takeaways
Fortune Brands Home & Security reported strong second quarter results with sales of $2.1 billion, a 9% increase versus a year ago, driven by resilient consumer demand and effective price and cost management. The company is also progressing ahead of schedule with the separation of its two companies.
2Q 2022 sales of $2.1 billion, an increase of 9 percent versus a year ago
2Q 2022 earnings per share (EPS) of $1.46, a decrease of 6 percent versus a year ago
EPS before charges / gains of $1.67, an increase of 7 percent versus a year ago
Separation of companies progressing ahead of schedule; Company expects to file initial Form 10 during 3Q
Fortune Brands
Fortune Brands
Fortune Brands Revenue by Segment
Forward Guidance
The Company now anticipates delivering an increased full-year sales growth in the range of 6.5 percent to 7.5 percent relative to a global home products market growing at 3 percent to 5 percent and a U.S. home products market growing at 4 percent to 6 percent. The Company now expects EPS before charges / gains for the full year to be in the range of $6.36 to $6.50 to account for incremental costs related to the separation. The Company now expects to generate free cash flow of approximately $590 million to $630 million.
Positive Outlook
- Increased full-year sales growth in the range of 6.5% to 7.5%.
- Global home products market growing at 3% to 5%.
- U.S. home products market growing at 4% to 6%.
- EPS before charges / gains for the full year to be in the range of $6.36 to $6.50.
- Free cash flow of approximately $590 million to $630 million.