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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 RTT Staff Writer

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