ATLANTA, Oct. 10, 2024 (GLOBE NEWSWIRE) -- FORTNA, a leading automation and software company for the full logistics value chain, in collaboration with Moen, a prominent brand of Fortune Brands Innovations, today opened a state-of-the-art distribution center in North Las Vegas utilizing a FORTNA-designed AutoStore solution. This ribbon-cutting event marks a significant milestone in optimizing operations on the west coast for Moen. The new center is a strategic fit designed to enhance Moen's ability to servic ...

Core Insights - Yale has launched the "Secure Start" contest to provide financial and security support for new renters amid rising rent prices and moving challenges [1][4] - The contest offers five winners assistance with their security deposits and the new Yale Approach™ Lock, a key-free smart lock designed for renters [1][2] Contest Details - Participants can enter by following Yale's Instagram and commenting on the contest post, explaining how $2,000 for rent or a security deposit would help them [3] - The contest runs from October 1 to October 11, 2024, with winners receiving financial assistance and smart lock products [3] Survey Insights - A survey by Yale revealed that over 80% of respondents believe one month of free rent, equivalent to the average security deposit, would provide peace of mind [2] - 70% of respondents reported difficulties in finding affordable housing, and 89% do not currently own a smart lock, although 94% expressed interest in acquiring one [3] Product Features - The Yale Approach™ Lock is a retrofit solution that is easy to install without altering existing hardware, providing convenience and enhanced security for renters [2][4] - The lock allows users to monitor and share access securely with trusted individuals, addressing both security and financial concerns for renters [2][3] Additional Support - Yale has partnered with design expert Imani Keal to offer tips for renters on enhancing their apartment's design without risking their security deposit [4] - Tips include using peel-and-stick materials for decor, upgrading small fixtures, and ensuring home security with the Yale Approach Lock [4]

Core Insights - Moen and Meritage Homes have signed a multiyear agreement to continue as Meritage's exclusive supplier of faucets and bath accessories, enhancing the quality and durability of plumbing solutions in energy-efficient homes [1][2]. Company Overview - Moen is recognized as the 1 consumer faucet brand in North America, offering a wide range of innovative kitchen and bath products that enhance user experience and water control [4]. - Meritage Homes is the fifth-largest public homebuilder in the United States, known for its energy-efficient and affordable homes, with operations across multiple states [6][7]. Partnership Details - The partnership between Moen and Meritage has lasted over 20 years, focusing on innovative and stylish plumbing products that align with Meritage's mission of creating sustainable homes [2][3]. - Moen's products meet EPA WaterSense® criteria, promoting water conservation and providing homebuyers with potential monthly utility cost savings [3]. Industry Recognition - Meritage Homes has delivered over 185,000 homes and has received multiple awards for its commitment to energy efficiency, including the EPA's ENERGY STAR® Partner of the Year for Sustained Excellence Award [7].

Investment Thesis - Fortune Brands Innovations, Inc. (FBIN) is expected to see upside driven by good execution, market share gains, and new partnerships in its connected product portfolio [5] - The interest rate cycle is anticipated to reverse, benefiting both new construction and repair & remodel (R&R) demand in the housing industry [5] - The company's margins are projected to improve due to favorable price/cost dynamics, an improving mix, cost savings, and volume leverage [5] - Despite a slightly higher valuation multiple than historical averages, it is justified due to the exit from lower-margin cabinet business [5] Revenue Analysis and Outlook - Recent sales were negatively impacted by channel inventory destocking and lower end-market demand due to a weak housing market [6] - In Q2 FY2024, FBIN experienced a 6.6% year-over-year increase in total revenue to $1.2 billion, although organic sales declined by 3% year-over-year [7] - The Water Innovation segment saw a 7% year-over-year sales growth, while the Security segment grew by 11.7% year-over-year, despite organic sales declines in both segments [8] Margin Analysis and Outlook - FBIN posted a 40 basis points year-over-year increase in adjusted operating margins, aided by improved margin mix and manufacturing efficiencies [12] - The Water Innovation segment's adjusted operating margin improved to 23.3%, while the Security segment saw a significant increase to 18.9% [13] - The company is expected to benefit from easing raw material costs and improved margins from connected/digital products [12][13] Valuation and Rating - FBIN stock is currently trading at 18.85x FY24 consensus EPS estimates of $4.29, which is a premium to its 5-year historical average of 16.48x but a discount to the sector median of 19.77x [14][15] - The company is expected to trade at a premium due to its higher-margin profile after spinning off its less profitable cabinet business [16] - The stock is projected to provide a good double-digit CAGR for investors, supported by double-digit EPS growth and a ~1.2% dividend yield [16]

Core Insights - Fortune Brands Innovations (FBIN) reported revenue of $1.24 billion for the quarter ended June 2024, reflecting a year-over-year increase of 6.6% [1] - The earnings per share (EPS) for the quarter was $1.16, up from $1.07 in the same quarter last year [1] Financial Performance Metrics - Net Sales for Outdoors were reported at $389.40 million, exceeding the average analyst estimate of $387.33 million, representing a year-over-year change of +6.9% [3] - Net Sales for Security were $191 million, falling short of the average estimate of $213.12 million [3] - Net Sales for Water were reported at $659.60 million, below the average estimate of $678.72 million [3] - Operating Income (Non-GAAP) for Water was $153.40 million, compared to the average estimate of $158.20 million [3] - Operating Income (Non-GAAP) for Outdoors was $63.30 million, exceeding the average estimate of $59.70 million [3] - Operating Income (Non-GAAP) for Security was $36.20 million, surpassing the average estimate of $33.19 million [3] - Total Corporate Expenses (Non-GAAP) were reported at -$37 million, compared to the average estimate of -$35.93 million [3] Market Reaction - The reported revenue represented a surprise of -3.06% compared to the Zacks Consensus Estimate of $1.28 billion, while the EPS surprise was +3.57% against a consensus estimate of $1.12 [4] - Over the past month, shares of Fortune Brands Innovations have returned +5.9%, contrasting with a -0.3% change in the Zacks S&P 500 composite [6] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [6]

Company Overview - Fortune Brands Innovations (FBIN) reported quarterly earnings of $1.16 per share, exceeding the Zacks Consensus Estimate of $1.12 per share, and showing an increase from $1.07 per share a year ago [3] - The company achieved an earnings surprise of 3.57% for the recent quarter and had a previous surprise of 9.21% when it reported earnings of $0.83 per share against an expectation of $0.76 per share [4] - Over the last four quarters, FBIN has surpassed consensus EPS estimates four times [5] Revenue Performance - FBIN posted revenues of $1.24 billion for the quarter ended June 2024, which was 3.06% below the Zacks Consensus Estimate, compared to $1.16 billion in revenues from the same quarter last year [5] - The company has exceeded consensus revenue estimates two times in the last four quarters [5] Stock Performance and Outlook - FBIN shares have declined approximately 9.3% since the beginning of the year, while the S&P 500 has gained 13.8% [6] - The current estimate revisions trend for FBIN is unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [8] - The consensus EPS estimate for the upcoming quarter is $1.22 on revenues of $1.27 billion, and for the current fiscal year, it is $4.26 on revenues of $4.83 billion [12] Industry Context - The Retail - Home Furnishings industry, to which FBIN belongs, is currently ranked in the bottom 5% of over 250 Zacks industries, suggesting a challenging environment [11] - The industry outlook can significantly impact stock performance, with top-ranked industries outperforming lower-ranked ones by more than 2 to 1 [11]

This maker of products for the home, like faucets, cabinets, windows and doors has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 5.68%. Price and EPS Surprise Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combinati ...

Group 1: Strategic Partnerships and Acquisitions - Fortune Brands Innovations, Inc. (FBIN) has entered into a partnership with Value Hybrid Global, S.L. to enhance its Master Lock brand's capabilities in connected lockout tagout (cLOTO) solutions, which are expected to improve safety and efficiency globally [9][10] - The partnership aims to transform workplaces from mechanical systems to cLOTO, thereby expanding the reach of these solutions in the global market [2] - FBIN's recent acquisitions, including a 100% stake in Wise Water Solutions LLC for $105.2 million, are expected to capture opportunities in the $4 billion U.S. residential water filtration market [11] Group 2: Financial Performance - Fortune Brands' first-quarter net sales reached $1.11 billion, reflecting a 7% year-over-year increase, largely driven by recent acquisitions [4] - Despite a 14.1% decline in shares over the past three months, FBIN's strategic investments and cost reduction initiatives are anticipated to drive growth momentum in upcoming quarters [12][15] Group 3: Market Position and Growth Outlook - The company focuses on both inorganic and organic growth opportunities, leveraging its market position to gain momentum despite uncertain economic conditions [15] - The Zacks Consensus Estimate for WING's 2024 sales and earnings per share indicates growth of 27.5% and 36.7%, respectively, from the previous year [6]

monsitj Investment Thesis Fortune Brands Innovations, Inc. (NYSE:FBIN) has good revenue and margin growth prospects. The company's revenue growth should benefit from an increased level of housing completions given the healthy housing start levels in the back half of last year. In addition, the company is also focused on enhancing its product portfolio with consistent innovations within connected offerings like FLO Smart Water Monitor and Shutoffs, Connected sprinklers, and Smart Locks. These offerings are g ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Of these, perhaps no stock market trend is more popular than value investing, which is a strategy that has proven to be successful in all sorts of market environments. Value investors use tried-and-true metrics and fundamental analysis to find compa ...