Fortune Brands reports Q3 EPS ex-items 93c, consensus $1.05
Reports Q3 revenue $1.4B, consensus $1.44B. "In the third quarter we experienced a slower summer market and the impact of Hurricane Florence on our North Carolina operations, which led to eight lost shipping days at the end of the quarter," said Chris Klein, chief executive officer, Fortune Brands. "Despite this our teams managed to grow sales and EPS, and consumer demand for housing and home products remains solid overall. Additionally the momentum in plumbing and doors continues to be strong, and the disciplined action we have taken all year on price and supply chain to offset inflationary pressures is having greater effect. In spite of market uncertainty, we are well-positioned to end 2018 on a positive note and accelerate our performance in 2019 with continued solid execution."