Fortune Brands narrows FY19 EPS view $3.53-$3.63, consensus $3.60The company's 2019 annual outlook is based on a U.S. home products market growth assumption of 2% to 2.5% and an assumption of 2% to 2.5% growth for our total global market. The company's FY19 sales growth expectation is tightened to the range of 5% to 6%, reflecting the slower ramp up of building product demand in the U.S., and the weaker Canadian housing market. As a result, the Company tightens its full-year 2019 EPS outlook before charges/gains to $3.53 to $3.63. The company expects to generate free cash flow of approximately $480M to $500M for FY19, which includes accelerated investments in capacity and inventory to support new composite decking customers. |