Fortune Brands Innovations, Inc. - FBIN STOCK NEWS

Fypon has announced an expanded product offering including new styles of beam mantels and additional sizes for raised panel and louvered shutters. The beam mantels are made from durable, low-maintenance polyurethane, providing homeowners with stylish options that complement various architectural styles. The new offerings feature classic, stepped, and smooth designs, with a weight load capacity of 200 lbs. The shutters are now available in sizes that match common entry door heights, allowing for a sophisticated look. Fypon aims to enhance home aesthetics with these new products, appealing to a wide range of design preferences.

Fortune Brands Innovations announces the appointment of David Barry as the new Chief Financial Officer, effective March 2, 2023, following the departure of Patrick Hallinan for a new opportunity. Barry, who has extensive experience within the company, previously served as Senior Vice President of Finance and Investor Relations since April 2021. The company reaffirms its full-year 2022 sales growth guidance of 4.5% to 5.5% and EPS expectations of $6.20 to $6.30. The fourth quarter and full-year financial results will be released on February 16, 2023, along with the investor conference call.

Therma-Tru has launched the Veris collection, enhancing its product line with stylish and functional glass doors. This collection features an array of designs including folding, sliding, hinged, and pivot doors that allow abundant natural light and seamless indoor-outdoor transitions. The Veris hinged doors are available in single and French configurations, while the pivot doors offer expansive sizes up to 5'0" wide by 10'0" tall. The folding and sliding doors are designed for convenience and expansive views. Therma-Tru, founded in 1962, specializes in entry and patio door solutions and is part of Fortune Brands Innovations (FBIN).

Therma-Tru and Fypon are set to showcase their innovative products and programs at the 2023 International Builders’ Show (IBS) from January 31 to February 2, at the Las Vegas Convention Center, booth #C5236. Additionally, they will offer a Virtual Experience starting February 14, 2023, featuring new product information aligned with current design trends. The companies aim to meet consumer demands for functionality and aesthetics. Notably, they are launching the Keys 2 Success national sweepstakes for trade professionals, running from February 14 to April 30, 2023, to enhance product knowledge and familiarity with market trends.

Moen has unveiled its innovative Smart Sprinkler Controller and Smart Wireless Soil Sensors, part of its Smart Water Network, at CES 2023. This dual product aims to optimize home irrigation, reducing water usage by up to 30% or approximately 15,000 gallons annually. The controller allows for customized watering schedules and seasonal adjustments through a smartphone app. Installation is straightforward, taking under 30 minutes. These products enhance Moen's connectivity with other smart devices, providing users with comprehensive water management.

Moen has expanded its Smart Water Network to include outdoor irrigation with the introduction of the Smart Sprinkler Controller and Wireless Soil Sensors. This innovation allows homeowners to control water usage in their yards, potentially reducing irrigation water use by up to 30%, saving approximately 15,000 gallons annually. The system enhances water conservation and security through real-time monitoring and alerts. Moen’s connected products provide greater insights into water usage, enabling personalized control and integration with existing smart home platforms.

Fortune Brands Innovations, Inc. (FBIN) has completed the spin-off of its Cabinets business, MasterBrand, Inc., establishing two independent publicly traded companies. Effective December 15, 2022, FBIN will trade under its new ticker symbol on the NYSE. This strategic move is expected to create growth opportunities for both companies. Each shareholder received one share of MasterBrand for every share of Fortune Brands owned as of the record date. The spin-off supports the company's focus on high-growth categories, including water management and connected products.

Fortune Brands Home & Security (NYSE: FBHS) has declared a quarterly cash dividend of $0.23 per share for its subsidiary, Fortune Brands Innovations (NYSE: FBIN). This dividend is payable on March 15, 2023, for stockholders of record as of February 24, 2023. The company is rebranding as Fortune Brands Innovations, effective December 15, 2022, reflecting its focus on growth through innovation and brand development. This marks the first dividend under the new name, demonstrating commitment to shareholder value.