Fortune Brands Innovations, Inc.

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.

Fortune Brands Innovations reported second quarter 2026 results with net sales of $1.2 billion, a 4.1% decrease year-over-year. GAAP EPS was ($0.19), significantly impacted by a ($1.44) asset impairment charge, while EPS before charges/gains was $1.35, aligning with expectations and benefiting from net tariff refunds. The company updated its full-year 2026 guidance, raising EPS before charges/gains to $3.22-$3.52 and free cash flow to $370-$420 million, reflecting anticipated tariff benefits and strategic investments to enhance execution and accelerate product development.

Fortune Brands Innovations announced the departure of Ms. Hiranda S. Donoghue, Executive Vice President, Chief Legal Officer, and Corporate Secretary, effective July 31, 2026. Mr. Jack N. Melamed will serve as interim Chief Legal Officer and Corporate Secretary. Ms. Donoghue's departure was not due to any disagreement with the company and she will receive benefits consistent with her termination agreement.

Fortune Brands Innovations, Inc. filed an amended Form 8-K/A to supplement its previous announcement regarding the appointment of Mr. Jesse G. Singh. The amendment specifically includes the filing of the CEO Offer Letter, dated June 28, 2026, between the Company and Mr. Singh. This offer letter pertains to his appointment as Chief Executive Officer and a Class I member of the Board of Directors.

Fortune Brands Innovations, Inc. announced the appointment of Jesse G. Singh as its new Chief Executive Officer and a Class I member of the Board, effective June 29, 2026. Singh previously served as CEO of The AZEK Company Inc. Concurrently, David V. Barry, the Company's Interim CEO, was appointed Executive Vice President and Chief Operating Officer. Singh's compensation package includes an annual base salary of $1.1 million, a 150% annual bonus target, and a $6.7 million long-term incentive target, along with significant inducement equity awards.

Fortune Brands Innovations, Inc. announced that at its 2026 Annual Meeting of Stockholders, shareholders approved significant amendments to the company's Amended and Restated Certificate of Incorporation. These amendments include the removal of all supermajority voting provisions and the elimination of the classified Board structure over a three-year period. The company also filed an Amended and Restated Certificate of Incorporation and Bylaws to reflect these changes. Additionally, stockholders elected three Class III directors, ratified the appointment of PricewaterhouseCoopers LLP as the independent auditor, and approved, on an advisory basis, the compensation paid to named executive officers.

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.

Fortune Brands Innovations reported a decline in first quarter 2026 results, with sales decreasing 2% to $1.0 billion and GAAP EPS falling 52% to $0.20. The company cited inconsistent execution and a dynamic external environment, including increased commodity inflation and cautious consumer sentiment. Consequently, Fortune Brands updated its full-year 2026 guidance, lowering expectations for net sales, adjusted EPS, and cash flow.