Welcome to our dedicated page for Fortune Brands Innovations news (Ticker: FBIN), a resource for investors and traders seeking the latest updates and insights on Fortune Brands Innovations stock.
Fortune Brands Innovations reports developments across its home, security and digital products portfolio, including Water Innovations, Outdoors and Security segment performance. Company news commonly covers quarterly results, guidance, dividends, operating priorities and product activity tied to brands such as Moen, House of Rohl, Aqualisa, Therma-Tru, Larson, Fiberon, Master Lock, SentrySafe and Yale residential.
Recurring updates also include new building-products introductions, channel and brand initiatives, governance changes and leadership transitions. The company’s disclosures connect demand trends in residential and commercial environments with product categories such as faucets, luxury hardware, sinks, door systems, decking, locks, safes and connected security products.
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Fortune Brands Innovations (NYSE: FBIN) reported Q1 2023 sales of $1.0 billion, down 9% year-over-year. Q1 earnings per share (EPS) were $0.67, a 29% decrease compared to Q1 2022. Adjusted EPS, before charges and gains, was $0.69, down 24%. Operating income fell to $131.8 million, a 27% drop from the previous year, with an operating margin of 12.7% compared to 15.8% in Q1 2022. Notably, sales in the Water Innovations and Outdoors segments decreased by 8% and 16%, respectively, while the Security segment saw a 2% increase. The company anticipates a full-year EPS before charges/gains adjustment to $3.65 to $3.85, despite forecasting a 6.5% to 8.5% decline in the global housing market.
Fortune Brands Innovations, Inc. (NYSE: FBIN) is set to announce its first quarter 2023 financial results after market close on April 26, 2023. The announcement will be followed by a conference call at 5:00 p.m. ET, hosted by CEO Nicholas Fink, CFO David Barry, and VP of Investor Relations Leigh Avsec. Investors and analysts can access the live audio webcast on the Fortune Brands website. The company, headquartered in Deerfield, Ill., is recognized for its diverse portfolio in home products, security, and commercial building sectors, featuring brands such as Moen, House of Rohl, and Master Lock. For more details on the company’s ESG efforts and its brand portfolio, visit www.FBIN.com.
Fiberon has announced the issuance of an Environmental Product Declaration (EPD) for its Wildwood composite cladding, highlighting its commitment to sustainability. This third-party verified EPD details the environmental impacts throughout the product's lifecycle, from raw material extraction to disposal. Wildwood is compliant with various environmental standards and utilizes at least 94% recycled materials, preventing over one million trees from being cut down annually. The manufacturing process uses a closed-loop water system, conserving vast amounts of water. Fiberon's innovative approach ensures that Wildwood requires no chemical treatments, enhancing air quality and durability.
Therma-Tru, in partnership with LARSON, has won a Good Design Award for its Impressions integrated storm and entry door system from The Chicago Athenaeum Museum of Architecture and Design. This innovative system integrates the storm door flush into the brickmould portion of the frame, creating a seamless look and enhanced functionality. The door features an interchangeable screen and a revolutionary hidden closer with Click&Hold technology for smooth operation. Therma-Tru's recognition reinforces its commitment to design excellence and innovation in the home products sector.