Fortune Brands Innovations (FBIN) Reports 2023 Results, Issues 2024 Guidance, Announces $650M Share Buyback
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Fortune Brands Delivers Solid 2023 Sales and Margin Performance with Strong Cash Generation; Issues 2024 Guidance; Announces $650 Million Share Repurchase Authorization
January 30, 2024 4:05 PM ESTHighlights:
Q4 2023 sales were $1.2 billion, an increase of 3 percent over Q4 2022. Organic sales excluding the impact of the non-reoccurring 53rd week and FX were $1.1 billion, a decrease of 3 percent versus Q4 2022 Q4 2023 earnings per share (EPS) were $0.64, a decrease of 35 percent versus a year ago; EPS before charges / gains were $0.95, a decrease of 11 percent versus Q4 2022, reflecting the impact of one-time separation items and the 53rd week Full-year 2023 sales were $4.6 billion, a decrease of 2 percent over 2022. Organic sales excluding the impact of the non-reoccurring 53rd week and FX were $4.4... More