FORTUNE BRANDS HOME & SEC INC (DE) Stock Price, News & Analysis

Fiberon, a top manufacturer of outdoor living products, is enhancing its manufacturing processes to prioritize efficiency, safety, and sustainability. The company has begun implementing updates at its facilities in New London, NC and Meridian, ID, including the addition of production lines and automation technologies. A new plant is also being constructed in Columbia, TN. These upgrades aim to improve productivity and reduce labor intensity, fostering a safer work environment and more environmentally friendly operations.

Fortune Brands Home & Security (NYSE: FBHS) has announced a new share buyback program, authorizing the repurchase of up to $750 million of its common stock over the next two years. This addition comes alongside $134.6 million remaining from a previous buyback authorization set to expire on July 23, 2023. The new buyback is contingent on market conditions and is effective until March 1, 2024, though the company is not obligated to repurchase any specific amount or number of shares.

The House of Rohl, a luxury plumbing brands portfolio, showcased new offerings at KBIS 2022, emphasizing the connection between design and personal wellbeing. Highlights include the launch of three new color palettes for Victoria + Albert and the Apothecary™ Collection by ROHL that emphasizes vintage aesthetics. The Riobel® Ode™ Bath Collection focuses on hygiene and ease of maintenance. A new range of Culinario™ sinks was introduced, featuring multi-purpose functionality. These innovations reflect consumer demand for elegant and practical home experiences in both kitchen and bathroom spaces.

Fortune Brands Home & Security (NYSE: FBHS) announced the appointment of May Russell as its first chief digital officer, positioned to spearhead the company's digital transformation efforts. Russell brings extensive experience from Ford Motor Company, where she oversaw significant digital initiatives. Fortune Brands aims to enhance its digital strategy to boost growth and operating efficiency. CEO Nicholas Fink emphasized the importance of digital excellence as a competitive advantage, marking a significant strategic shift for the company.

Fortune Brands Home & Security (FBHS) reported fourth quarter 2021 sales of $2.0 billion, an 18% year-over-year increase, and full-year 2021 sales of $7.7 billion, up 26%. Earnings per share (EPS) rose to $1.28 for Q4 and $5.54 for the full year, marking increases of 10% and 41%, respectively. Despite facing cost inflation and supply chain challenges, the company maintained robust operating income and introduced optimistic 2022 guidance, projecting sales growth of 5.5% to 7.5% and EPS before charges/gains of $6.35 to $6.55. Strong market demand for housing continues to fuel growth.

Fortune Brands Home & Security (NYSE: FBHS) has acquired Solar Innovations, LLC, a producer of exterior door systems, for up to $63 million as of January 31, 2022. The acquisition will enhance Fortune Brands’ Outdoors & Security segment, aligning with its strategy to capitalize on the growing outdoor living market. Solar Innovations, with around 30 patents and a strong R&D foundation, will contribute to innovation in premium door offerings, leveraging the company's market position and expertise.

Therma-Tru has redesigned its 8'0" Smooth-Star flush-glazed full-lite door, enhancing it with an elevated bottom rail to comply with ADA requirements. This new design features a minimum 10" net smooth surface and ensures a width of at least 3'0" for accessibility. Mark Ayers, senior vice president, emphasized expanding ADA-compliant options for multi-family dwellings. The door offers a modern aesthetic with durable fiberglass skins, double- or triple-pane glass, and a high-performance weather seal, making it ideal for patio and back home entries.