This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Fortune Brands Reports Second Quarter Results

Stocks in this article: FO

Fortune Brands, Inc. (NYSE: FO):

  • Sales Rise 5% and Earnings Meet Company Expectations
  • Beam Sales Increase 11% to a Record on Broad-Based Global Share Gains
  • Home & Security Continues to Outperform Market

Fortune Brands, Inc. (NYSE: FO) today reported results for the second quarter of 2011.

  • Net sales from continuing operations, which excludes the recently divested golf business, were $1.59 billion, up 5%.
  • Diluted earnings per share from continuing operations were $0.65, and diluted EPS before charges/gains was $0.71 versus $0.74 in the year-ago quarter.
  • Including results from the divested golf unit, sales would have been $1.99 billion and diluted EPS before charges/gains would have been $0.93 for the quarter.

“As we approach the planned separation of our two remaining businesses, both Beam and Home & Security are outperforming their markets and will be ready to hit the ground running on Day One as independent companies,” said Bruce Carbonari, chairman and chief executive officer of Fortune Brands. “As expected, EPS before charges/gains for the second quarter was modestly lower due to the challenging comparisons we highlighted three months ago: the 10-15 cents per share benefit to the year-ago quarter primarily from the mid-2010 expiration of the U.S. homebuyer tax credit; higher year-over-year costs for raw materials and transportation; and the impact in the current-year period of our double-digit increase in strategic spend to support profitable long-term growth.

“Beam achieved record second quarter sales with gains across its three geographic regions,” Carbonari said. “Notably, our investments in innovation and brand building are paying off in profitable share gains, and we’re further stepping up our brand investment as a result. The Jim Beam brand accelerated its momentum in the quarter, Maker’s Mark continued its double-digit growth, and our distribution muscle is fueling explosive growth for the Skinnygirl cocktails brand we acquired in March. In fact, Skinnygirl has already become the fastest-growing spirits brand in America, and we’re planning to build on its success with innovations like the new Skinnygirl Sangria. Spirits operating income growth trailed top-line growth, as anticipated, due principally to our strong double-digit increase in brand investment and the startup costs associated with new product launches.”

1 of 9

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs