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Sep 30, 2021
Fortune Brands Q3 2021 Earnings Report
Fortune Brands achieved strong sales and profit growth amidst a challenging environment.
Key Takeaways
Fortune Brands Home & Security, Inc. reported a 20 percent increase in sales, approaching $2.0 billion for the third quarter of 2021, with earnings per share rising by 24 percent to $1.45. The company is actively managing supply chain challenges and remains on track to deliver record performance for the year.
3Q 2021 sales increased 20 percent year-over-year and approached $2.0 billion.
3Q 2021 earnings per share (EPS) increased 24 percent to $1.45 per share versus the prior-year-quarter; EPS before charges / gains increased 25 percent year-over-year to $1.49
Company on track to deliver both record performance in 2021 and long-term growth and margin targets
Company revising 2021 full year financial outlook to reflect near-term supply chain and labor availability challenges
Revenue by Segment
Forward Guidance
The Company expects to continue outperforming a fundamentally strong housing market. The Company now anticipates delivering full-year sales growth in the range of 24.5 percent to 25.5 percent, or 17.5 percent to 18.5 percent excluding the LARSON acquisition. This reflects the Company’s revised assumptions of a global home products market now expanding by approximately 11 percent to 12 percent, including growth in the U.S. home products market of approximately 12 percent to 13 percent. The Company now expects EPS before charges / gains for the full year to be in the range of $5.63 to $5.73, representing an increase at the midpoint of 36 percent versus a year ago. For 2021, the Company expects to generate free cash flow of approximately $625 to $675 million.
Positive Outlook
- The Company expects to continue outperforming a fundamentally strong housing market.
- The Company now anticipates delivering full-year sales growth in the range of 24.5 percent to 25.5 percent, or 17.5 percent to 18.5 percent excluding the LARSON acquisition.
- This reflects the Company’s revised assumptions of a global home products market now expanding by approximately 11 percent to 12 percent, including growth in the U.S. home products market of approximately 12 percent to 13 percent.
- The Company now expects EPS before charges / gains for the full year to be in the range of $5.63 to $5.73, representing an increase at the midpoint of 36 percent versus a year ago.
- For 2021, the Company expects to generate free cash flow of approximately $625 to $675 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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