Quarterly ResultMay 7, 2026, 04:22 PM
Fortune Brands Q1 Net Sales Down 2.1%; EPS Halved to $0.20
AI Summary
Fortune Brands Innovations reported a significant decline in its first-quarter 2026 financial results, with net sales decreasing by 2.1% and diluted EPS falling by 52.4% compared to the prior year. Net income also saw a substantial drop of 52.9%. The company increased its long-term debt and entered into a new $1.25 billion revolving credit facility, while also completing the sale of certain assets for $9.8 million.
Key Highlights
- Net sales decreased 2.1% to $1,011.3 million for Q1 2026 from $1,033.1 million in Q1 2025.
- Diluted EPS fell 52.4% to $0.20 in Q1 2026 from $0.42 in Q1 2025.
- Net income decreased 52.9% to $24.2 million in Q1 2026 from $51.4 million in Q1 2025.
- Operating income declined 37.9% to $60.2 million in Q1 2026 from $97.0 million in Q1 2025.
- Water segment net sales were $563.7 million, Outdoors $294.4 million, and Security $153.2 million.
- Net cash used in operating activities increased to $119.2 million from $83.4 million year-over-year.
- Long-term debt increased to $2,713.7 million as of March 28, 2026, from $2,544.9 million.
- Entered a new $1.25 billion revolving credit facility maturing in January 2031.
Price Impact
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