Quarterly ResultAug 5, 2026, 04:31 PM
Fortune Brands Q2 Net Loss $(22.5)M; $229.3M Asset Impairment
AI Summary
Fortune Brands Innovations, Inc. reported a net loss of $(22.5)M for the thirteen weeks ended June 27, 2026, a significant decline from $100.3M net income in the prior year, primarily due to a $229.3M asset impairment charge related to its Fiberon composite decking business. For the twenty-six weeks, net income fell to $1.7M from $151.6M year-over-year. Despite the decline in profitability, net cash provided by operating activities increased to $83.6M.
Key Highlights
- Strategic review of Fiberon business led to $229.3M asset impairment charge.
- Net sales for the thirteen weeks ended June 27, 2026, were $1,153.9M, down from $1,203.3M YoY.
- Net loss for the thirteen weeks was $(22.5)M, compared to net income of $100.3M YoY.
- Diluted EPS for the thirteen weeks was $(0.19), down from $0.83 YoY.
- Net sales for the twenty-six weeks were $2,165.2M, down from $2,236.5M YoY.
- Net income for the twenty-six weeks was $1.7M, down from $151.6M YoY.
- Net cash provided by operating activities for twenty-six weeks increased to $83.6M from $66.0M YoY.
- Dividends paid were $0.26 per common share for the twenty-six weeks.
Price Impact
More from FBIN