Fortune Brands Reports Solid 1Q Results Despite End-Market Softness, Maintains 2019 Guidance
Fortune Brands Home & Security performed well during the first quarter even though its end markets grew at a more tepid pace than last year. Fortune Brands' sales grew 6% year over year (3% organically) to $1.3 billion. The company estimates repair and remodel spending was up 4% but its new-construction end markets were down low single digits. During last year's first quarter, Fortune Brands estimated 4%-5% R&R growth and mid-single-digit expansion in its new-construction markets.We wer...
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.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
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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