logo
Plus   Neg
Share
Email

Fortune Brands Home & Security Swings To Q1 Profit; Boosts FY12 EPS Outlook

Fortune Brands Home & Security, Inc. (FBHS) reported net income for the first quarter of $12.5 million or $0.08 per share, compared to a net loss of $10.5 million or $0.07 per share for the year-ago quarter.

Excluding items, adjusted earnings per share for the first quarter was $0.08, compared to $0.00 in the prior year quarter.

Net sales for the first quarter rose 12% to $798.8 million from $714.8 million a year earlier.

Analysts polled by Thomson Reuters expected the company to earn $0.03 per share on revenue of $750.15 million for the first quarter. Analysts' estimates typically exclude special items.

The company raised its full year 2012 adjusted earnings guidance to a range of $0.77 to $0.87 per share from its prior guidance of $0.66 to $0.74 per share. Analysts currently expect the company to earn $0.76 per share for the full year 2012.

by RTTNews Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Walmart is ditching its dress code policy and is testing a new dress code that will allows "associates" to wear blue denim and shirts of any solid color. The updated dress coded guidelines now allow employees to wear blue "jeggings" and blue jeans and shirts of any solid color, according to a Walmart... Canadian investment firm Fairfax Financial Holdings Ltd. has submitted a "stalking horse" bid worth C$300 million, or $237 million, for the Canadian unit of Toys "R" Us, according to court documents. A stalking horse bid is an initial bid on the assets of a bankrupt company. The bankrupt company will choose an entity from a pool of bidders who will make the first bid on its assets. The car rental market in the U.S. is consolidating as large car rental companies are buying smaller, local companies to expand their portfolio of premium and value brands. The key players in the U.S. market include Enterprise Holdings, Hertz Global Holding and Avis Budget Group. Let's take a look at some of the best and worst car rental companies in the U.S.
Follow RTT