Fortune Brands Q3 2022 Earnings Report
Key Takeaways
Fortune Brands Home & Security, Inc. announced third quarter 2022 results, with sales increasing 3% to $2.1 billion and EPS before charges/gains increasing 20% to $1.79. The company updated its full-year guidance to reflect a softening market environment.
3Q 2022 sales of $2.1 billion, an increase of 3 percent versus a year ago
3Q 2022 earnings per share (EPS) of $1.57, an increase of 8 percent versus a year ago
EPS before charges / gains of $1.79, an increase of 20 percent versus a year ago
Full-year guidance updated to reflect a softening market environment
Fortune Brands
Fortune Brands
Fortune Brands Revenue by Segment
Forward Guidance
The Company now anticipates delivering 2022 full-year sales growth in the range of 4.5 percent to 5.5 percent relative to a global home products market growing at 2 percent to 4 percent and a U.S. home products market growing at 3 percent to 5 percent. The Company now expects EPS before charges / gains for the full year to be in the range of $6.20 to $6.30. The Company now expects to generate free cash flow of approximately $400 million to $450 million.
Positive Outlook
- Delivering 2022 full-year sales growth in the range of 4.5 percent to 5.5 percent
- Global home products market growing at 2 percent to 4 percent
- U.S. home products market growing at 3 percent to 5 percent
- EPS before charges / gains for the full year to be in the range of $6.20 to $6.30
- Generate free cash flow of approximately $400 million to $450 million
Challenges Ahead
- Increasing headwinds in response to slowing new construction
- Increasing headwinds in response to slowing R&R activity
- Greater than expected channel inventory reductions
- Softer market in 2023
- Housing affordability weighed on the consumer