Fortune Brands Q2 underlying EPS $1.35, up 35%; raises FY guidance on tariff refunds

Fortune Brands Innovations, Inc.

Q2 sales $1.154B, down 4.1% YoY; GAAP EPS ($0.19) includes $1.44 impairment charge and $0.52 net tariff refund benefit.
Underlying EPS before charges/gains $1.35, up 35% YoY; operating margin before charges/gains 20.4%, up 390 bps.
Water Innovations sales -6.5%, Outdoors -3.8%, Security +3.8%; Security margin up 1,200 bps to 26.8%.
Updated FY 2026 EPS before charges/gains guidance $3.22-$3.52 (prior $3.00-$3.30), includes $0.52 net tariff refund benefit.
FY operating margin before charges/gains raised to 14.0%-15.0%; free cash flow guidance raised to $370M-$420M.

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