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Dec 30, 2023
Fortune Brands Q4 2023 Earnings Report
Fortune Brands delivered solid sales and margin performance with strong cash generation.
Key Takeaways
Fortune Brands Innovations reported a 3% increase in Q4 2023 sales, reaching $1.2 billion. EPS decreased by 35% to $0.64, while EPS before charges/gains decreased by 11% to $0.95.
Q4 2023 sales were $1.2 billion, an increase of 3 percent over Q4 2022.
Organic sales excluding the impact of the non-reoccurring 53rd week and FX were $1.1 billion, a decrease of 3 percent versus Q4 2022
Q4 2023 earnings per share (EPS) were $0.64, a decrease of 35 percent versus a year ago
Company announces new $650 million share repurchase authorization reflecting confidence in outlook and commitment to driving long-term shareholder value
Revenue by Segment
Forward Guidance
Full year 2024 financial guidance reflects expectation of outperformance as the company executes strategy of growing the core and accelerating connected products, and the defined pathway toward margin growth.
Positive Outlook
- Net sales 3.5% to 5.5%
- Operating margin before charges / gains 16.5% to 17.5%
- EPS before charges / gains $4.20 to $4.40
- Cash flow from operations Around $720 million
- Free cash flow Around $520 million
Challenges Ahead
- Global market -3% to 0%
- U.S. market -2% to 0%
- U.S. R&R -4% to -2%
- China market -9% to -7%
- Net sales [organic] -1% to 1%
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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