Earnings release
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Fortune Brands A home and security company FORTUNE BRANDS REPORTS STRONG SALES AND PROFIT GROWTH IN 3Q 2021 ; COMPANY UPDATES 2021 ANNUAL OUTLOOK REFLECTING RECORD PERFORMANCE WHILE ACTIVELY MANAGING SIGNIFICANT NEAR - TERM SUPPLY CHAIN CHALLENGES ● EARNINGS RELEASE Highlights from operations : 3Q 2021 sales increased 20 percent year - over - year and approached $ 2.0 billion 3Q 2021 earnings per share ( EPS ) increased 24 percent to $ 1.45 per share versus the prior year - quarter ; EPS before charges / gains increased 25 percent year - over - year to $ 1.49 Company on track to deliver both record performance in 2021 and long - term growth and margin targets Company revising 2021 full year financial outlook to reflect near - term supply chain and labor availability challenges DEERFIELD , IL . October 26 , 2021 - Fortune Brands Home & Security , Inc. ( NYSE : FBHS , the " Company " , or " Fortune Brands ” ) , an industry - leading home and security products company , today announced third quarter 2021 results . " Our teams produced very strong results in an extremely challenging environment , " said Nicholas Fink , chief executive officer , Fortune Brands . " Demand remains strong across our portfolio and our investments in innovation , capacity , and digital transformation continue to accelerate the value proposition behind our world - class brands . While supply chain and labor availability headwinds have increased , we are addressing these challenges head - on . We continue to develop and deploy our Fortune Brands Advantage capabilities to further reduce complexity and increase our efficiencies in global sourcing . These actions will help offset these near - term headwinds while also increasing our ability to invest further . The steps we are taking position the Company for continued outperformance and will contribute to achieving our long term goals in this elongating and expanding housing market . ' Third Quarter 2021 For the third quarter of 2021 , sales approached $ 2.0 billion , an increase of 20 percent over the third quarter of 2020. Earnings per share were $ 1.45 , compared to $ 1.17 in the prior - year quarter . EPS before charges / gains were $ 1.49 , compared to $ 1.19 in the prior - year quarter , an increase of 25 percent . Operating income was $ 286.6 million , compared to $ 240.2 million in the prior - year quarter . Operating income before charges / gains was $ 293.3 million , compared to $ 244.2 million in the prior - year quarter , up 20 percent . Operating margin was 14.4 percent , compared to 14.5 percent in the third quarter of 2020. Operating margin before charges / gains was 14.8 percent , even versus the third quarter of 2020 . For each segment in the third quarter of 2021 , compared to the prior - year quarter : Plumbing sales increased approximately 26 percent , or 23 percent excluding FX , the result of strong performance across the business . Operating margin before charges / gains was 22.6 percent . www.FBHS.com