Fortune Brands Home & Security, Inc. (NYSE: FBIN) reported Q1 EPS of $0.69, $0.10 better than the analyst estimate of $0.59. Revenue for the quarter came in at $1 billion versus the consensus estimate of $1.01 billion.

GUIDANCE:

Fortune Brands Home & Security, Inc. sees FY2023 EPS of $3.65-$3.85, versus the consensus of $3.67.

The Company is increasing the midpoint of full-year EPS before charges / gains guidance by $0.05 to a range of $3.65 to $3.85, reflecting the Company’s operational outperformance amid an external environment that is expected to remain challenging and the impact of share repurchases. The Company continues to expect a global housing market decline of 6.5 percent to 8.5 percent with full-year net sales down in the range of 5 percent to 7 percent, operating margins between 16 percent and 17 percent, EBITDA margins before charges / gains of between 19 percent and 20 percent and free cash flow of approximately $475 million.

“We delivered solid sales and financial performance in an external operating environment that we expect will continue to be volatile,” said Fortune Brands Chief Financial Officer David Barry. “Our financial position is strong, and our teams remain agile in the face of macro headwinds. We will continue to position the Company for success by prioritizing above-market sales growth, margin preservation and enhancement and cash generation.”

For earnings history and earnings-related data on Fortune Brands Home & Security, Inc. (FBIN) click here.