FORTUNE BRANDS HOME & SEC INC (DE) - FBHS STOCK NEWS

Fortune Brands Home & Security (FBHS) reported Q3 2022 sales of $2.1 billion, up 3% year-over-year. EPS rose 8% to $1.57, with adjusted EPS before charges gaining 20% to $1.79. While the firm noted a softening U.S. housing market impacting demand, it remains optimistic about future growth and ongoing plans to separate into two companies ahead of schedule. The full-year guidance reflects anticipated sales growth of 4.5%-5.5% and projected EPS before charges of $6.20-$6.30. Despite challenges, the balance sheet remains strong with $345 million in cash.

Fiberon, a leader in wood-alternative cladding, has introduced a new color, Bamboo, to its Wildwood composite cladding lineup. This light blonde oak color, part of the Sahara Collection, complements existing tones like Mulga and Sumac. Bamboo features unique gradients that resemble natural bamboo shading. Wildwood is made from 94% recycled materials, promoting sustainability and durability. The product aims to provide architects with a low-maintenance, long-lasting alternative to traditional wood, resistant to decay and insects. For more details, visit fiberoncladding.com.

Huttig Building Products has announced a new distribution partnership with Fiberon, expanding Fiberon's reach in the Southeast U.S. market. This collaboration aims to support Fiberon’s growth in outdoor living products, with Huttig prepared to take Winter Buy orders starting in December. Huttig's long-standing partnership with Therma-Tru is leveraged, enhancing its product offerings. The partnership will provide customers access to Fiberon’s sustainable, low-maintenance decking solutions backed by strong warranties.

Fortune Brands Home & Security (NYSE: FBHS) will announce its Q3 2022 financial results on October 26, 2022, post-market. A conference call featuring CEO Nicholas Fink and CFO Patrick Hallinan will be held at 4:30 p.m. ET to discuss the results. A live audio webcast will be accessible on the company’s website, with a replay available afterward. Headquartered in Deerfield, IL, Fortune Brands is a Fortune 500 entity focused on home products, operating segments including Water Innovations, Outdoors & Security, and Cabinets.

Fortune Brands Home & Security, Inc. (NYSE: FBHS) announced a quarterly cash dividend of $0.28 per common share, payable on December 14, 2022, to stockholders on record as of November 25, 2022. The company is a leader in the home products industry and is known for its trusted brands, including Moen and MasterBrand Cabinets. With 28,000 associates, FBHS is committed to fulfilling home dreams while enhancing its environmental, social, and governance (ESG) commitments.

Fiberon, a leading manufacturer of outdoor living products, has launched an updated website aimed at enhancing user experience and accessibility. The site now features improved product information, digital tools, and e-commerce capabilities, allowing for direct purchases. The redesign emphasizes consumer education and provides optimized content for all devices, ensuring ease of navigation. Senior executives highlight the strategic growth potential of e-commerce and the importance of an adaptable customer journey in purchasing outdoor products.

Fortune Brands Home & Security (NYSE: FBHS) announces a new operational structure to enhance growth and productivity. Key leadership changes include Cheri Phyfer as Group President, focusing on brand and innovation, and Ron Wilson as Chief Supply Chain Officer, overseeing global supply operations. This reorganization precedes the planned separation of the company into two publicly traded entities. The management emphasizes agility and efficiency in their operations, aiming to unlock shareholder value.

Fortune Brands Home & Security, Inc. (NYSE: FBHS) announced the extension of its $1.25 billion Senior Unsecured Revolving Credit Facility for five years, maturing on August 2, 2027. The funds will be utilized for general corporate purposes following the separation of the Cabinet business. JPMorgan Chase Bank, N.A. acts as the Administrative Agent while Bank of America, N.A. serves as the Syndication Agent. This strategic move underscores the company's commitment to maintaining a robust capital structure.

Fortune Brands Home & Security (NYSE: FBHS) has acquired Aqualisa Holdings (International) Ltd., a leading U.K. manufacturer of digital shower products, for approximately $160 million. This acquisition aligns with Fortune Brands' strategic focus on enhancing their Water Innovations business, particularly in digital and sustainable water management solutions. Aqualisa's innovative portfolio complements Fortune Brands' existing products, creating opportunities for market expansion in the U.S., U.K., and Europe.