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Fortune Brands Home & Security Inc FBHS

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Fortune Brands Continues to Benefit From Strong Repair and Remodel Spending

Analyst Note

| Brian Bernard, CFA, CPA |

While concerns about housing affordability have been growing, demand for new and existing homes remains robust in the Unites States and elevated repair and remodel spending has persisted. Given this backdrop, we expected Fortune Brands to report strong second-quarter results, but the narrow-moat rated firm exceeded our expectations. Second-quarter reported revenue was 41% higher than the year-ago quarter (32% organic growth) and 28% above second-quarter 2019 revenue (21% organic). All three of the firm's segments--plumbing, cabinets, and outdoors and security--reported at least 30% year-over-year growth.

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Company Profile

Business Description

Fortune Brands Home & Security is a leading home and security products company that operates three segments. The company's $2.5 billion (fiscal 2020) cabinets segment sells cabinets and vanities under the MasterBrand family of brands. The $2.2 billion plumbing segment, led by the Moen brand, sells faucets, showers, and other plumbing fixtures. The $1.4 billion outdoors and security segment sells entry doors under the Therma-Tru brand name, Fiberon-branded patio decking, and locks and other security devices under the Master Lock and SentrySafe brand names.

520 Lake Cook Road
Deerfield, IL, 60015-5611
T +1 847 484-4400
Sector Consumer Cyclical
Industry Furnishings, Fixtures & Appliances
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2020
Stock Type Cyclical
Employees 27,500