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Jun 29, 2024
Fortune Brands Q2 2024 Earnings Report
Delivered solid sales and strong margin results.
Key Takeaways
Fortune Brands Innovations reported a 7% increase in sales to $1.2 billion in Q2 2024. EPS increased by 33% to $1.06, and EPS before charges/gains increased by 8% to $1.16. The company updated its full-year 2024 guidance, reflecting a revised macro-economic outlook and strength in key businesses.
Q2 2024 sales were $1.2 billion, an increase of 7 percent versus Q2 2023.
Organic sales were $1.1 billion, a decrease of 3 percent versus Q2 2023
Q2 2024 earnings per share (EPS) were $1.06, an increase of 33 percent versus a year ago; EPS before charges / gains were $1.16, an increase of 8 percent versus Q2 2023
Company updates full-year 2024 guidance, reflecting a revised macro-economic outlook and strength in key businesses while maintaining prior mid-point of EPS before charges / gains range
Revenue by Segment
Forward Guidance
Fortune Brands is updating its full-year guidance to reflect expectations for continued out-performance driven by its core businesses, with particular strength in its Outdoors segment and its Moen North America business, and its accelerating digital sales, which are offset by weaker China sales. The company is narrowing the range around its prior EPS before charges / gains mid-point due to expected growth in its core and digital businesses and strong margin performance.
Positive Outlook
- U.S. SFNC 8% to 10%
- Outdoors net sales 2% to 4%
- Water Innovations operating margin before charges / gains Around 24%
- Cash flow from operations Around $700 million
- Cash conversion Around 100%
Challenges Ahead
- Global market -3% to -1%
- U.S. market -1% to flat
- U.S. R&R -4% to -3%
- China market -20% to -15%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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