Fortune Brands Q4 sales up 3% to $1.16B; EPS $0.64; issues 2024 guidance; authorizes $650M buyback

Fortune Brands Innovations, Inc.

2023-FY EPS reported $3.17 revenue$4,626,200,000

Q4 GAAP EPS $0.64 (-35% YoY); adjusted EPS $0.95 (-11% YoY); sales $1.16B (+3% reported, -3% organic).
Full-year 2023 sales $4.6B (-2% reported, -6% organic); GAAP EPS $3.17 (-23%); adjusted EPS $3.91 (-8%).
2024 guidance: organic sales -1% to +1%; adjusted EPS $4.20-$4.40; operating margin before charges/gains 16.5%-17.5%.
Board authorized $650M share repurchase through Jan 2026, in addition to $435M remaining under prior authorization.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fortune Brands Innovations, Inc. reported Q4 2023 results: revenue $1.2 billion, EPS $0.64.

Period: Q4 2023
Revenue: $1.2 billion
EPS: $0.64
Result: reported results

Exact text from the filing

Highlights: Q4 2023 sales were $1.2 billion, an increase of 3 percent over Q4 2022. Organic sales excluding the impact of the non-reoccurring 53 rd 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; EPS before charges / gains were $0.95, a decrease of 11 percent versus Q4 2022, reflecting the impact of one-time separation items and the 53 rd week

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fortune Brands Innovations, Inc. updated its full year 2024 guidance (initiated).

Period: full year 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

Company provides 2024 guidance prioritizing above-market sales performance, margin expansion and continued cash generation

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fortune Brands Innovations, Inc. reported Full-year 2023 results: revenue $4.6 billion, EPS $3.17.

Period: Full-year 2023
Revenue: $4.6 billion
EPS: $3.17
Result: reported results

Exact text from the filing

Full-year 2023 sales were $4.6 billion, a decrease of 2 percent over 2022. Organic sales excluding the impact of the non-reoccurring 53 rd week and FX were $4.4 billion, a decrease of 6 percent versus full year 2022 Full-year 2023 EPS were $3.17, a decrease of 23 percent versus 2022; EPS before charges / gains were $3.91, a decrease of 8 percent versus 2022, reflecting the impact of one-time separation items and the 53 rd week

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Fortune Brands Innovations, Inc. filing history →

Source: SEC EDGAR

accession 0001157523-24-000132

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