Fortune Brands Q3 adj EPS $1.79 (+20% YoY), sales $2.1B (+3%); lowers FY guidance on softer market

Fortune Brands Innovations, Inc.

2022-Q3 EPS reported $4.37 revenue$6,082,000,000

GAAP EPS $1.57 (+8% YoY); adjusted EPS $1.79 (+20% YoY).
Operating margin before charges/gains improved to 16.3% from 14.8% a year ago.
Full-year EPS before charges/gains guidance cut to $6.20-$6.30; sales growth 4.5%-5.5%.
Free cash flow guidance $400M-$450M; $580M in YTD share repurchases.
Separation into two public companies progressing ahead of schedule, expected to close this year.

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