Fortune Brands Innovations news focuses on a public company identified in its releases as NYSE: FBIN and described as a home, security and digital products company. Its announcements cover products for residential and commercial environments, with brands such as Moen, House of Rohl, Aqualisa, SpringWell, Therma-Tru, Larson, Fiberon, Master Lock, Sentry Safe and Yale residential.
News about Fortune Brands can matter because the company’s public materials span several distinct product areas. Coverage may include quarterly results, dividend declarations, leadership appointments, inducement equity awards, product and brand announcements, and portfolio decisions involving named businesses such as Fiberon.
Product-related announcements have referenced Therma-Tru doors, Fiberon cladding and decking, Larson storm doors and retractable screens, Fypon decorative trim and Solar Innovations glass structures. House of Rohl coverage may involve its luxury décor portfolio for kitchen, bath and whole-home design, including Riobel, Perrin & Rowe, Shaws, Victoria + Albert, ROHL, Emtek and Schaub.
For investors researching FBHS, Fortune Brands news should be read with attention to the ticker used in company releases, which identify Fortune Brands Innovations as FBIN. The most relevant items are those that connect operating results, dividends, brand activity, product categories and portfolio review to the company’s home, security and digital products identity.
Fortune Brands Home & Security, Inc. (NYSE: FBHS) announced the election of Jeffery Perry to its Board of Directors, effective December 8, 2020. Perry, with a 30-year career spanning strategic, operational, and financial roles, is expected to enhance the Board's effectiveness. His experience in mergers, acquisitions, and business transformations is poised to drive shareholder value. Additionally, his commitment to diversity and inclusion aligns with the company's initiatives. Fortune Brands operates in plumbing, cabinets, and outdoor security segments, holding strong market positions across its brands.
Fortune Brands Home & Security (NYSE: FBHS) has declared a quarterly cash dividend of $0.26 per share, effective March 17, 2021, for stockholders of record by February 26, 2021. This 8% increase from the previous $0.24 reflects the Board's confidence in the company's long-term cash flow and growth strategy, which includes investing in businesses and accretive acquisitions. This marks the eighth consecutive year of dividend increases, underscoring the company's strong execution and commitment to enhancing shareholder value.
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Fortune Brands Home & Security (FBHS) has signed an agreement to acquire LARSON Manufacturing for approximately $660 million, aiming to enhance its position in the outdoor living sector. LARSON, a leader in the U.S. storm door market, reported revenues of $390 million, leveraging DIY products that cater to the repair and remodeling market. The acquisition is expected to be accretive, adding $0.14 to $0.20 to FBHS's 2021 earnings per share. Regulatory approval is pending, with the closing anticipated within 30 days. This strategy aligns with FBHS's growth focus in the outdoor living segment.
Fiberon announces an expanded partnership with Wolf Home Products, enabling the availability of their decking and railing products in Ohio, western Pennsylvania, and upstate New York. This growth represents a significant multi-state distribution effort aimed at enhancing product accessibility for contractors. The partnership will also see Wolf carrying Fiberon’s premium PVC decking line, Promenade, and providing dedicated support to trade professionals through territory managers. Both companies highlight the increasing consumer demand for low-maintenance wood-alternative building products.
Fortune Brands Home & Security (NYSE: FBHS) reported its Q3 2020 results, highlighting a 13% sales increase to $1.7 billion, with EPS rising to $1.17 from $0.75 year-over-year. Strong performance across all segments includes Plumbing sales up 15%, Doors & Security up 14%, and Cabinet sales up 11%. The company maintains a robust balance sheet with $465 million in cash and $1.35 billion in credit availability. Despite ongoing COVID-19 risks, Fortune Brands reinitiated its 2020 guidance, projecting sales growth of 4-5% and EPS between $4.03 and $4.11, backed by a favorable housing market.
Moen and Lennar are collaborating to integrate the Flo by Moen Smart Water Shutoff system in homes across the nation, enhancing homeowner water management. This technology enables real-time monitoring, leak detection, and conservation capabilities, promising improved water security. A study indicates that homes using this system saw a 96% reduction in water leak insurance claims within a year. As part of Lennar's commitment to sustainable living, this initiative aims to protect homes from water damage and provide potential savings on insurance premiums for homeowners.
Fortune Brands Home & Security, Inc. (NYSE: FBHS) will disclose its third quarter 2020 financial results on Wednesday, October 28, 2020, after market close. A conference call featuring CEO Nicholas Fink and CFO Patrick Hallinan is scheduled for 4:30 p.m. ET to discuss the results. Investors can access a live internet audio webcast on the company's website, with a replay available shortly after the call. Fortune Brands operates in the plumbing, cabinets, and doors & security segments, holding a leadership position in each segment.
On June 22, 2020, Moen emphasized the critical need for reliable access to water amidst ongoing water shutoffs affecting millions of Americans during the pandemic. The CDC considers handwashing vital for public health, yet many face barriers due to financial hardship. Moen urges individuals to petition Congress for a national moratorium on water shutoffs, highlighting the heightened risk of COVID-19 transmission. Mark-Hans Richer, chief marketing officer of Fortune Brands Global Plumbing Group, stated that access to water is essential for public safety during these challenging times.