Fortune Brands Q2 EPS before charges $1.07, raises FY23 guidance, completes $800M acquisition

Fortune Brands Innovations, Inc.

2023-Q2 EPS reported $1.46 revenue$2,203,700,000

Q2 2023 sales $1.164B down 7% YoY; reported EPS $0.80, EPS before charges/gains $1.07.
Completed acquisition of Emtek/Schaub/Yale/August for $800M ($700M net of tax benefits).
Full-year EPS before charges/gains guidance raised to $3.75-$3.90 from $3.65-$3.85.
Full-year free cash flow guidance raised to ~$575M from ~$475M.
Net debt to EBITDA before charges/gains 2.9x; operating cash flow $428M, free cash flow $358M.

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Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fortune Brands Innovations, Inc. reported full-year 2023 results: EPS $3.75 to $3.90. Guidance raised.

Period: full-year 2023
EPS: $3.75 to $3.90
Guidance: raised
Result: guidance update

Exact text from the filing

The Company is increasing full-year EPS before charges / gains guidance to a range of $3.75 to $3.90, reflecting the impact of the Acquisition and improved market conditions.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fortune Brands Innovations, Inc. reported second quarter 2023 results: revenue $1.2 billion, EPS $0.80.

Period: second quarter 2023
Revenue: $1.2 billion
EPS: $0.80
Result: reported results

Exact text from the filing

Fortune Brands Delivers Solid Sales and Strong Margin Results Amid Dynamic Macro Environment; Increases Full-Year 2023 Guidance Highlights: Q2 2023 sales were $1.2 billion, a decrease of 7 percent versus Q2 2022 Q2 2023 earnings per share (EPS) were $0.80, a decrease of 27 percent versus a year ago

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Source: SEC EDGAR

accession 0001157523-23-001175

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