This Day On The Street
Continue to site
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

Fortune Brands Home & Security Grows Sales And Profit In Q4 And Full Year 2012

Full year 2012

For the full year 2012, net sales were $3.6 billion, an increase of 8 percent over 2011. Diluted earnings per share were $0.71, compared to a loss per share of $0.23 in the prior year, and diluted EPS before charges/gains was $0.89 vs. $0.60 last year, an increase of 48 percent.

Full-year operating income was $162 million, an increase of $177 million from the prior year, and full-year operating income before charges/gains was $228 million, an increase of 40 percent.

“Our balance sheet as of December 31, 2012 became even stronger, with $336 million in cash, gross debt of $326 million and nothing outstanding on our $650 million revolving credit facility. Our net debt-to-EBITDA before charges/gains ratio is zero,” said Lee Wyatt, senior vice president and chief financial officer. “We are solidly positioned with several options to drive significant incremental shareholder value.”

Outlook for 2013

For the full year 2013, the Company’s assumption for the growth of the U.S. market for its home products is 6 to 8 percent versus 2012. Based on this planning assumption and other factors, and the Company’s expectation to continue outperforming this market, the Company expects full year 2013 net sales to increase at a high-single-digit rate. The Company expects diluted EPS before charges/gains to be in the range of $1.13 to $1.23. This targeted range compares to 2012 diluted EPS before charges and gains of $0.89, as stated above.

The Company expects free cash flow for 2013 to be at least $200 million, net of capital expenditures of approximately $100 million.

“In 2013, we expect the home products market to improve much like 2012, and I am confident that we should outperform our market in similar form, delivering solid sales and profit growth. We believe our strong brands, compelling product innovation and operational excellence, along with our solid capital structure, position us to continue to outperform now and well into the future,” Klein said.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.72 1.20%
FB $117.76 -0.68%
GOOG $693.43 -0.68%
TSLA $234.41 -3.10%
YHOO $35.93 -1.60%


Chart of I:DJI
DOW 17,719.05 -172.11 -0.96%
S&P 500 2,057.92 -23.51 -1.13%
NASDAQ 4,756.0180 -61.5760 -1.28%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs