Fortune Brands Innovations Inc
FBIN: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$85.00 | Tykfsds | Jfqwrgzc |
Fortune Brands Earnings: Solid Results Despite Soft Repair and Remodel Market; Digital Sales Growing
Considering soft repair and remodeling spending in the United States and challenging market conditions in China, we thought Fortune Brands Innovations’ second-quarter financial performance was solid. While consolidated reported revenue increased 7% year over year, that growth came primarily from businesses acquired from Assa Abloy in June 2023. Organic revenue growth declined 3% year over year. Even so, adjusted operating margin expanded 40 basis points to 17.4%.