Fortune Brands Q3 sales up 5% to $1.26B; raises mid-point of FY2023 adjusted EPS guide

Fortune Brands Innovations, Inc.

2023-Q3 EPS reported $2.53 revenue$3,464,900,000

Q3 GAAP EPS $1.07 (-2% YoY); adjusted EPS $1.19 (+3% YoY) on sales of $1.261B (+5% total, -4% organic).
Water Innovations organic sales -4%, Security organic +6%, Outdoors organic -9%.
Full-year adjusted EPS guidance mid-point raised to $3.85 (range $3.80-$3.90); free cash flow outlook raised to ~$630M.
Repurchased $30M shares in Q3, $150M YTD; net debt $2.4B, net debt/EBITDA 2.6x.
Recently acquired brands (Emtek, Schaub, Yale, August) performing above expectations; integration on track.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Fortune Brands Innovations, Inc. reported third quarter 2023 results: revenue $1.3 billion, EPS $1.07. Guidance raised.

Period: third quarter 2023
Revenue: $1.3 billion
EPS: $1.07
Guidance: raised
Result: reported results

Exact text from the filing

EXHIBIT 99.1 Exhibit 99.1 Fortune Brands Delivers Solid Third Quarter Results; Raises Mid-Point of Full-Year 2023 Non-GAAP EPS Guidance Highlights: Q3 2023 sales were $1.3 billion, an increase of 5 percent over Q3 2022. Organic sales were $1.1 billion, a decrease of 4 percent versus Q3 2022 Q3 2023 earnings per share (EPS) were $1.07, a decrease of 2

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Source: SEC EDGAR

accession 0001157523-23-001544

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