AllAnalyst Report
logoArgusFebruary 02, 2024

Fortune Brands Innovations, Inc.: Fourth-quarter earnings top consensus

Symbols
FBIN
Sector(s)
Industrials
Rating
Current Price
$74.18
Price Target
Earnings Estimate
Summary

Fortune Brands Innovations, based in Deerfield, Illinois, became an independent public company on October 3, 2011, when it separated from its former parent Fortune Brands and became Fortune Brands Home and Security. The company took on its current structure, as Fortune Brands Innovations, with the separation of the MasterBrand cabinets business on December 14, 2022. FBIN generated $4.6 billion in 2023 sales, with 55% coming from the Water Innovations division, 29% from Outdoors, and 16% from Security. Approximately 67% of North American sales came from the repair and remodeling market in 2022, 23% from the single family new construction, and 10% from multifamily new construction. We will update these numbers after we review the annual report for 2023. The current business

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Analyst Profile

Chris Graja, CFA

Senior Analyst: Retail
Chris covers the Consumer sector for Argus. He was the #1 Stock Picker in the Household Durables sector, winning the 2019 StarMine U.S. Analyst award from Refinitiv. He was the #1 Stock Picker in Food and Staples Retailing, winning back-to-back U.S. Analyst Awards in 2015 and 2016. He received a prestigious Volunteer of the Year award from the New York Society of Security Analysts in 2000. Prior to Argus, Chris spent 16 years at Bloomberg Financial Markets. He was the Director of Training and a Senior Researcher for Bloomberg’s research division before joining the new Bloomberg magazine as Technical Studies Editor in 1993. He rose to Executive Markets Editor of the publishing group. Chris co-authored the book “Investing in Small-Cap Stocks,” which was published in three U.S. editions, an audio book, and two Chinese editions. Chris earned an MBA from Rutgers University. He is a CFA charterholder.