Fortune Brands Innovations Inc - FBIN STOCK NEWS

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.

Fortune Brands Innovations, Inc. (NYSE: FBIN) has elected Stephanie Pugliese as a Class III member of its Board of Directors, effective until the 2023 Annual Meeting of Stockholders. Pugliese brings extensive experience from her previous roles, notably as President of Americas at Under Armour from September 2019 to March 2023, and as President and CEO of Duluth Holdings. Her appointment underscores the Board’s commitment to diversity and aligns with the company’s focus on brand innovation and digital transformation.

Fortune Brands Innovations (FBIN) reported a 4% increase in full-year 2022 sales to $4.7 billion, despite a 2% decline in Q4 sales compared to the previous year, resulting in $1.1 billion for the quarter. Q4 earnings per share (EPS) were $0.85, down 34% due to reorganization expenses; however, EPS before charges rose 18% to $1.56. The company anticipates full-year 2023 sales to decrease by 5% to 7% and aims for EPS of $3.60 to $3.80. The CEO emphasized margin preservation and cash generation, aiming to navigate a challenging market environment.

Fiberon has launched the Fiberon Ascendant platform aimed at enhancing customer loyalty through tailored programs for trade professionals. This initiative includes the Fiberon Certified Installer Program, which offers tiered rewards and exclusive warranties, and the Accredited Dealer Program, providing educational tools and co-marketing resources. The Outdoor Education Center supports installers and dealers with product knowledge. This platform emphasizes Fiberon's commitment to customer engagement and aims to improve business quality for installers and dealers alike.

NORTH OLMSTED, Ohio, Feb. 9, 2023 /PRNewswire/ -- Moen has launched the Moen Designer Council to enhance product development and support kitchen and bath designers across the U.S. The council aims to engage a select group of professionals to guide Moen in addressing industry needs, emphasizing user-centric design. Key features include open discussions on design challenges, previews of upcoming products, and peer support. The council will meet virtually twice in 2023 and offer an all-expenses-paid visit to Moen’s headquarters. Applications are open until March 31, 2023, with notifications in early April.