Fortune Brands Innovations Updates FY24 Net Sales Growth From 3.5%-5.5% To 2.5%-4.5%; EPS From $4.20-$4.40 To $4.25-$4.35 Vs $4.28 Est.
Portfolio Pulse from Benzinga Newsdesk
Fortune Brands Innovations has updated its FY24 guidance, lowering net sales growth from 3.5%-5.5% to 2.5%-4.5% and adjusting EPS from $4.20-$4.40 to $4.25-$4.35. The company cites strong performance in its Outdoors segment and Moen North America business, as well as accelerating digital sales, offset by weaker China sales.
July 25, 2024 | 8:09 pm
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Fortune Brands Innovations has updated its FY24 guidance, lowering net sales growth and adjusting EPS. The company highlights strong performance in its Outdoors segment and Moen North America business, but notes weaker sales in China.
The updated guidance reflects a mixed outlook with strong performance in certain segments offset by weaker sales in China. The slight adjustment in EPS and net sales growth indicates a cautious but stable outlook, leading to a neutral short-term impact on the stock price.
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