Fortune Brands Turns in Another Solid Quarter and Raises Full-Year EPS Guidance; Maintain $63 FVE
Fortune Brands reported solid second-quarter performance as sales grew about 5% over the year-ago quarter and adjusted earnings increased 12% to $0.92 per share. The narrow-moat company’s adjusted EPS beat the $0.87 per share consensus estimate, but sales narrowly missed the Street’s estimate ($1.365 billion versus $1.392 billion consensus). After a solid first half, management raised the midpoint of its full-year 2017 adjusted EPS guidance to $3.08 from $3.06. Fortune Brands remains on track to...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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