Fortune Brands Innovations Fiscal Q3 Adjusted Earnings, Sales Decline; Cuts 2024 Outlook

MT Newswires Live11-07

Fortune Brands Innovations (FBIN) reported late Wednesday fiscal Q3 non-GAAP earnings of $1.16 per diluted share, down from $1.19 a year earlier.

Analysts polled by Capital IQ expected $1.14.

Net sales for the quarter ended Sept. 28 were $1.16 billion, down from $1.26 billion a year earlier.

Analysts polled by Capital IQ expected $1.24 billion.

The company now expects 2024 non-GAAP earnings of $4.17 to $4.23 per share, compared with previous guidance of $4.25 to $4.35 per share. Analysts polled by Capital IQ expected $4.25.

The company now expects 2024 net sales to be flat to up 1%, compared with previous guidance of sales growth of 2.5% to 4.5%.

Price: 80.49, Change: -3.79, Percent Change: -4.50

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