Fortune Brands Innovations Files 10-Q

TL;DR

FBIN 10-Q filed. Q2 results out.

AI Summary

Fortune Brands Innovations, Inc. filed its 10-Q for the period ending June 29, 2024. The company reported financial results and provided updates on its business operations. Specific financial figures and operational details are contained within the full filing.

Why It Matters

This filing provides investors with a detailed look at Fortune Brands Innovations' financial health and operational performance during the second quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Players & Entities

• Fortune Brands Innovations, Inc. (company) — Filer
• 20240629 (date) — Reporting period end date
• 20240726 (date) — Filing date
• Fortune Brands Home & Security, Inc. (company) — Former company name

FAQ

Key Financial Figures

• $0.01 — he registrant's common stock, par value $0.01 per share, at July 19, 2024 was 124,107
• $813.9 m — a total purchase price of approximately $813.9 million, net of cash acquired of $21.9 mi
• $21.9 million — $813.9 million, net of cash acquired of $21.9 million. During the second quarter, legal title
• $23.5 m — ich included a payment of approximately $23.5 million, net of cash of $5.6 million (whi
• $5.6 million — oximately $23.5 million, net of cash of $5.6 million (which amount is already included in th

Filing Documents

• fbin-20240629.htm (10-Q) — 2256KB
• fbin-ex31_1.htm (EX-31.1) — 11KB
• fbin-ex31_2.htm (EX-31.2) — 12KB
• fbin-ex32.htm (EX-32) — 11KB
• 0000950170-24-086908.txt ( ) — 10642KB
• fbin-20240629.xsd (EX-101.SCH) — 1139KB
• fbin-20240629_htm.xml (XML) — 2633KB

FINANCI AL INFORMATION

PART I. FINANCI AL INFORMATION

FINANCI AL STATEMENTS

Item 1. FINANCI AL STATEMENTS. FORTUNE BRANDS INNOVATIONS, INC. CONDENSED CONSOLIDATED STATEM ENTS OF COMPREHENSIVE INCOME For the Twenty-Six and Thirteen Weeks Ended June 29, 2024 and July 1, 2023 (In millions, except per share amounts) (Unaudited) Twenty-Six Weeks Ended June 29, 2024 Twenty-Six Weeks Ended July 1, 2023 Thirteen Weeks Ended June 29, 2024 Thirteen Weeks Ended July 1, 2023 Net sales $ 2,349.5 $ 2,203.7 $ 1,240.0 $ 1,163.7 Cost of products sold 1,320.9 1,327.2 699.0 695.6 Selling, general and administrative expenses 631.3 541.7 319.7 280.7 Amortization of intangible assets 36.1 25.2 18.3 12.6 Restructuring charges 6.7 25.2 3.9 22.2 Operating income 354.5 284.4 199.1 152.6 Interest expense 62.4 54.6 32.3 27.7 Other income, net ( 3.6 ) ( 11.6 ) ( 3.7 ) ( 5.2 ) Income from continuing operations before income taxes 295.7 241.4 170.5 130.1 Income tax 65.5 53.7 36.6 28.0 Income from continuing operations, net of tax 230.2 187.7 133.9 102.1 (Loss) income from discontinued operations, net of tax - ( 1.0 ) - - Net income $ 230.2 $ 186.7 $ 133.9 $ 102.1 Basic earnings per common share Continuing operations $ 1.83 $ 1.47 $ 1.07 $ 0.81 Discontinued operations - - - - Basic earnings per share $ 1.83 $ 1.47 $ 1.07 $ 0.81 Diluted earnings per common share Continuing operations $ 1.82 $ 1.47 $ 1.06 $ 0.80 Discontinued operations - ( 0.01 ) - - Diluted earnings per share $ 1.82 $ 1.46 $ 1.06 $ 0.80 Comprehensive income $ 209.9 $ 198.4 $ 125.6 $ 114.5 See notes to condensed consolidated financial statements. 2 FORTUNE BRANDS INNOVATIONS, INC. CONDENSED CONSOLIDA TED BALANCE SHEETS (In millions) (Unaudited) June 29, 2024 December 30, 2023 Assets Current assets Cas

View Full Filing

View this 10-Q filing on SEC EDGAR