Fortune Brands Reports Strong Second-Quarter Sales

July 27th, 2016 by Editor

Fortune Brands Home & Security Inc., the parent company of Therma-Tru doors and Master Lock security products, announced second quarter 2016 results from continuing operations this week and increased its 2016 annual outlook for earnings per share.

“We drove strong sales and profit gains across all segments in the second quarter as the home products market continued to grow at the pace that we had planned,” said Chris Klein, chief executive officer ofFortune Brands. “Based on continuing our strong performance, we are increasing our full year EPS outlook.”

For the second quarter of 2016, sales were $1.3 billion, an increase of 11 percent over the second quarter of 2015. Earnings per share were $0.80, compared to $0.48 in the prior-year quarter. Operating income was $187.7 million, compared to $128.2 million in the previous period. O

“In the second quarter, sales increased 12 percent for our U.S. home products businesses,” Klein said. “Operating margin before charges/gains for the total company grew significantly by 190 basis points to 14.8 percent, with solid performance across all operating segments.”

Door sales were up 9 percent, driven by the wholesale channel. Security sales increased 6 percent.

 

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