Fortune Brands sees 2024 EPS $4.25-$4.35 vs. prior $4.20-$4.40

Consensus $4.28. Sees 2024 sales up 2.5%-4.5% vs. prior up 3.5%-5.5%. The company said, “Amidst a dynamic market, we are now updating our full-year guidance to reflect our expectations for continued out-performance driven by our core businesses, with particular strength in our Outdoors segment and our Moen North America business, and our accelerating digital sales, which are offset by weaker China sales. Importantly, we are narrowing the range around our prior EPS before charges / gains mid-point due to expected growth in our core and digital businesses and strong margin performance,” said Fortune Brands Chief Financial Officer David Barry. “As we position Fortune Brands for long-term shareholder value creation, we will continue to prioritize above-market sales growth opportunities, margin expansion and cash generation, while continuing to effectively manage costs and invest in a strategic set of key priorities.”