Fortune Brands Innovations (FBIN) Beats Q2 Earnings Estimates

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]