Fortune Brands Q3 sales down 8% YoY; EPS $1.09, guidance lowered for FY2024

Fortune Brands Innovations, Inc.

2024-Q3 EPS reported $2.91 revenue$3,504,800,000

Q3 net sales $1.155B, down 8% YoY; organic sales ex-China down 5%.
EPS $1.09 (GAAP) +2% YoY; EPS before charges/gains $1.16, down 3%.
Operating margin expanded 220 bps to 17.8%; non-GAAP margin 18.7%.
Updated FY2024 guidance: net sales flat to 1% (prior 2.5-4.5%); EPS before charges/gains $4.17-$4.23 (prior $4.25-$4.35).
Free cash flow guidance lowered to ~$475M (from ~$500M); cite hurricanes and channel destocking.

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