FBIN
Fortune Brands Innovations, Inc.51.34
-0.46-0.89%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Margin drivers detailed, Outdoors targeted
Q&A unpacked the 70bps margin compression at midpoint, spotlighting $151M mitigated tariffs flowing to P&L, $40M commodity inflation (half in Water), and incentive comp reset, with productivity offsets holding firm. Management stressed conservative guide mimicking 2025's flat markets—no inflection expected—relying on internal fixes over recovery hopes. Outdoors draws main fire from $35M savings push, targeting 17%+ margins after Fiberon retailer loss and destocking. CEO transition promises continuity, no portfolio shakeup. Q&A largely reaffirms script but adds granular math. Watch Outdoors rebound, cost ramp.
Key Stats
Market Cap
6.17BP/E (TTM)
19.23Basic EPS (TTM)
2.67Dividend Yield
0.02%Recent Filings
8-K
Garden joins board via pact
Fortune Brands signed a cooperation agreement with Garden Investment Management on March 16, 2026, appointing Ed Garden as independent Class I director to the Nominating and Governance and Compensation Committees through the 2027 annual meeting. Garden, holding 3.5M shares, withdrew 2026 proxy nominees and accepted standstill curbs up to 9.99% ownership. Board declassification proposal heads to 2026 vote. Leadership churned too.
8-K
CEO search, interim leaders named
Fortune Brands Innovations launched a CEO search after Amit Banati stepped aside and Nicholas Fink accelerated his exit, appointing David Barry as Interim CEO and Ashley George as Interim CFO, effective March 16, 2026. Susan Kilsby resumed as Non-Executive Chair; Ed Garden joined the board via cooperation agreement. Leadership shakeup signals activist push. 2026 outlook update slated for Q1 earnings.
10-K
FY2025 results
Fortune Brands Innovations posted FY2025 net sales of $4.46B, down 3.2% y/y amid U.S. housing contraction and a 63% plunge in China volumes, yet Q4 pricing discipline offset some volume erosion across segments. Operating income cratered 30% to $516M from $109M restructuring charges—mostly headquarters consolidation—and $54M asset impairments, plus a $21M Outdoors factory fire; productivity gains cushioned margins but couldn't stem the tide. Water sales fell 4.6% on China weakness, Outdoors dropped 2% with impairments, while Security held flat. Q4 repurchased 200k shares at $49.9; $368M commercial paper funds $2.5B debt, revolver untapped. No 2026 guidance disclosed. Housing starts remain volatile.
8-K
CEO transition, Q4 results out
Fortune Brands reported Q4 2025 sales of $1.1B, down 2.4%, with full-year sales at $4.5B, down 3.2%; non-GAAP EPS before charges fell 12% to $0.86 and $3.61. Amid weak markets, CEO Nicholas Fink resigns April 1, 2026; board director Amit Banati steps in May 13 with $1.1M salary, 150% bonus target. New leadership eyes cost discipline. Transition smooth.
8-K
Extends $1.25B revolver to 2031
Fortune Brands Innovations locked in a fresh five-year $1.25B revolving credit facility on January 16, 2026, amending its 2022 agreement with JPMorgan as agent. It backs commercial paper, funds working capital, capex, and acquisitions, with up to $750M incremental capacity and two one-year extensions possible. Interest ties to debt ratings (0.80%-1.30% over SOFR); covenants cap net leverage at 3.5x EBITDA. Liquidity stays rock solid.
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