Therma-Tru has announced its new product lineup for 2024, including updated options for Smooth-Star Shaker-style doors, the innovative Advanta lite frame and more. (Photo: Business Wire)Therma-Tru has announced its new product lineup for 2024, including updated options for Smooth-Star Shaker-style doors, the innovative Advanta lite frame and more. (Photo: Business Wire)MAUMEE, Ohio--(BUSINESS WIRE)--Therma-Tru has announced its new product lineup for 2024, including updated options for Smooth-Star Shaker-st ...

Although improved housing market conditions, increasing consumer confidence on the back of expectations of series rate cuts and moderating inflation are encouraging, the Fed’s decision of holding interest rates steady and consumer’s cautious approach are concerns for the Zacks Retail-Home Furnishings industry players. Continued investments in e-commerce and higher raw material costs in the home furnishing market are added headwinds. However, consumers’ increasing desire for shopping, efficient cost manageme ...

Iconic brands to be showcased together at 2024 International Builder’s ShowFor the first time, Therma-Tru, Larson, Fiberon, Fypon and Solar Innovations will be on display together, providing an experience unlike what the industry has seen from these brands previously. (Photo: Business Wire)For the first time, Therma-Tru, Larson, Fiberon, Fypon and Solar Innovations will be on display together, providing an experience unlike what the industry has seen from these brands previously. (Photo: Business Wire)MAUME ...

Fortune Brands Innovations, Inc. (FBIN) reported mixed results for fourth-quarter 2023, with earnings beating the Zacks Consensus Estimate and net sales missing the same. On a year-over-year basis, net sales increased, but earnings declined.Despite a challenging macro environment, the company's teams successfully delivered, progressed long-term initiatives and executed on priorities. The company's results this year highlight its focus on surpassing market sales, maintaining margins and generating cash.In th ...

Have you been paying attention to shares of Fortune Brands Innovations (FBIN) ? Shares have been on the move with the stock up 7% over the past month. The stock hit a new 52-week high of $80.91 in the previous session. Fortune Brands Innovations has gained 6.1% since the start of the year compared to the 29.7% move for the Zacks Retail-Wholesale sector and the 52.2% return for the Zacks Retail - Home Furnishings industry.What's Driving the Outperformance?The stock has a great record of positive earnings sur ...

For the quarter ended December 2023, Fortune Brands Innovations (FBIN) reported revenue of $1.16 billion, up 2.6% over the same period last year. EPS came in at $0.95, compared to $1.07 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $1.18 billion, representing a surprise of -1.85%. The company delivered an EPS surprise of +2.15%, with the consensus EPS estimate being $0.93.While investors closely watch year-over-year changes in headline numbers -- revenue and earnin ...

Fortune Brands Innovations (FBIN) came out with quarterly earnings of $0.95 per share, beating the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $1.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 2.15%. A quarter ago, it was expected that this maker of products for the home, like faucets, cabinets, windows and doors would post earnings of $1.07 per share when it actually produced earnings of $1.1 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-35166 Fortune Brands Innovations, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporati ...

Financial Performance - For the year ended December 31, 2022, total net sales were $4,723.0 million, a decrease of 1.6% compared to 2021[114]. - Operating income for 2022 was $774.3 million, down 4.5% from 2021, primarily due to lower net sales and higher commodity costs[129]. - Income from continuing operations decreased by $19.8 million, or 3.5%, due to lower net sales and higher interest expense, partially offset by higher other income and lower tax expense[140]. - Income from discontinued operations decreased by $65.9 million, or 31.0%, due to lower operating income and transaction costs related to the Separation[141]. - The company reported a foreign exchange impact of approximately $41 million on net sales and $12 million on operating income in 2022[130]. Sales Breakdown - The U.S. market accounted for 80% of net sales, with $3,763.6 million, while international sales contributed 20%[114]. - The Water Innovations segment reported net sales of $2,570.2 million, a decrease of 6.9% from 2021, while the Outdoors & Security segment saw a 5.5% increase to $2,152.8 million[129]. - Net sales in the Water Innovations segment decreased by $191.0 million, or 6.9%, attributed to slowing housing market activity in China and lower sales demand in the U.S. and Canada[142]. Acquisitions and Spin-offs - In December 2022, the company announced an agreement to acquire Emtek and Schaub for $800 million, expected to close in Q2 2023[121][122]. - The company completed the spin-off of its Cabinets business, MasterBrand, in December 2022, changing its name to Fortune Brands Innovations, Inc.[125]. Debt and Interest Expenses - Interest expense increased by 41.4% to $34.9 million due to higher average interest rates and borrowings[136]. - The company issued $900 million in senior unsecured notes in March 2022 to pay down a portion of the outstanding balance on the 2021 Term Loan[169]. - As of December 31, 2022, total long-term debt was $2,074.3 million, down from $2,309.8 million in 2021[176]. - Debt payments due in 2023 are $600 million, with a total of $1,600 million due in 2028 and beyond[197]. - Interest payments due in 2023 are $105 million, increasing to $642 million in 2028 and beyond[197]. Cash Flow and Capital Expenditures - Net cash provided by operating activities was $566.3 million in 2022, a decrease from $688.7 million in 2021[188]. - Net cash used in investing activities increased to $455.5 million in 2022, primarily due to acquisitions and capital expenditures[189]. - The Company expects capital spending in 2023 to be between $250 million and $300 million, focusing on decking product line investments[177]. Corporate Expenses and Income - Corporate expenses increased by $19.4 million, or 17.3%, due to higher consulting costs related to digital transformation initiatives[147]. - Other income increased to $12 million in 2022 from an expense of $0.4 million in 2021, primarily due to the absence of a non-cash loss related to the investment in Flo and higher defined benefit income[137]. Pension and Tax Liabilities - The fair value of total pension plan assets was $482.5 million as of December 31, 2022, covering 89% of the accumulated benefit obligation[192]. - The company recorded total pension income of $(7.8) million in 2022 compared to $(6.6) million in 2021[227]. - The company had liabilities for unrecognized tax benefits totaling $33.4 million as of December 31, 2022, with a potential decrease of $9.8 million in the next 12 months[232]. Impairments and Provisions - Impairment charges of $46.4 million were recognized in 2022 related to indefinite-lived tradenames within the legacy Cabinets segment[221]. - The inventory provision was $49.2 million as of December 31, 2022, up from $37.1 million in 2021[204]. - No impairments of long-lived assets were recorded in 2022, while a $0.2 million impairment was recorded in 2021[206].

Fortune Brands Innovations, Inc. (NYSE:FBIN) Q4 2022 Earnings Conference Call February 16, 2023 5:00 PM ET Company Participants Leigh Avsec - Vice President, IR and Corporate Affairs Nicholas Fink - Chief Executive Officer Patrick Hallinan - SVP & CFO David Barry - EVP and Incoming CFO Conference Call Participants Susan Maklari - Goldman Sachs Matthew Bouley - Barclays Adam Baumgarten - Zelman & Associates Stephen Kim - Evercore ISI Operator Greetings. At this time, I'd like to welcome everyone to the Fort ...