Here's What Key Metrics Tell Us About Fortune Brands Innovations (FBIN) Q2 Earnings

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]