Fortune Brands (FBIN) reports earnings tomorrow: what to expect
Home and security products company Fortune Brands (NYSE:FBIN) will be reporting results this Tuesday afternoon. Here’s what to expect.
Fortune Brands met analysts’ revenue expectations last quarter, reporting revenues of $1.15 billion, down 4.1% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Fortune Brands a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Fortune Brands’s revenue to decline 2.1% year on year, a deceleration from its flat revenue in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings.
Looking at Fortune Brands’s peers in the home construction materials segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Masco delivered year-on-year revenue growth of 2.6%, beating analysts’ expectations by 2%, and Hayward reported revenues up 6.5%, topping estimates by 3.2%. Masco traded up 6.7% following the results while Hayward was also up 19.5%.
Read our full analysis of Masco’s results here and Hayward’s results here.
In the last year or so, investors have shifted their focus from one macro dynamic to the next (AI disintermediation and AI investment to geopolitical conflict, interest rates, and the health of the wider economy). While some of the home construction materials stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3% on average over the last month. Fortune Brands is up 15.2% during the same time and is heading into earnings with an average analyst price target of $51.12 (compared to the current share price of $44.05).
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