Fortune Brands Home & Security, Inc. Provides Earnings Guidance for 2019; Reports Asset Impairment Charges for Three Months Ended December 31, 2018
January 30, 2019
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Fortune Brands Home & Security, Inc. provided earnings guidance for 2019. For the period, The company expects sales growth in the range of 6% to 7.5%. Excluding acquisitions, the company expects full year 2019 organic sales growth in the range of 3% to 5%. The company expects EPS before charges/gains to be in the range of $3.53 to $3.77, the midpoint of which is over 9% higher than last year. This 2019 EPS outlook excludes any incremental capital deployment and includes the following assumptions.
The company also reported asset impairment charges for three months ended December 31, 2018. For the period, the company reported asset impairment charges were $35.5 million.
Fortune Brands Innovations, Inc. is a home, security and commercial building products company. The Company has three segments. Water Innovations segment manufactures or assembles and sells faucets, accessories, kitchen sinks and waste disposal, predominantly under the Moen, ROHL, Riobel, Victoria+Albert, Aqualisa and Shaws brands. Outdoors segment manufactures and sells fiberglass and steel entry door systems, storm, screen and security doors, composite decking, railing and cladding under the Fiberon brand, urethane millwork under the Fypon brand, and wide-opening exterior door systems and outdoor enclosures under the Solar Innovations brand. Security segment manufactures, sources and distributes locks, safety and security devices, and electronic security products and fire-resistant safes and security containers. The Company, through SpringWell Water Filtration Systems, provides residential whole-home water filtration and water softening solutions via direct-to-consumer channels.