Fortune Brands Raises Guidance Again; Probability of Acquisition Increases
Narrow-moat Fortune Brands continues to capitalize on improving home repair and remodel spending and growing demand for new home construction. Second-quarter sales increased 11% year over year, and adjusted operating margin expanded 190 basis points to 14.8%, which is near the company’s long-term 15% goal. Management raised earnings guidance for the second consecutive quarter due to strong second-half operating expectations and a lower effective tax rate. Management now expects full-year earning...Fortune Brands Home & Security is a holding company. Through its subsidiaries, the company provides home and security products. The company's segments are: Cabinets, which manufactures cabinetry and vanities, for the kitchen, bath and other parts of the home; Plumbing, which manufactures or assembles and sells faucets, accessories, kitchen sinks and waste disposals; and Doors and Security, which manufactures and sells fiberglass and steel entry door systems, composite decking and railing, and urethane millwork, as well as manufactures, sources and distributes locks, safety and security devices, and electronic security products and fire resistant safes, security containers and commercial cabinets.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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