Fortune Brands Q4 EPS Beats on Shy Revenues

Fortune Brands Home & Security reported after hours Tuesday mixed Q4 results and issued downside EPS guidance for FY17.

Q4 adjusted EPS was $0.71 per share, up from $0.56 per share a year earlier and two cents above the consensus of analysts polled by Capital IQ. Revenues rose 6% year-over-year to $1.30 billion but were shy of the $1.32 billion mean estimate.

For FY17, Fortune Brands expects EPS of $2.95 to $3.05 per share, below the $3.12 per share consensus, on revenue growth of 6% to 8%.

The company also said CFO Lee Wyatt will retire at the end of 2017 and that Patrick Hallinan will succeed Wyatt. Hallinan served as CFO of Fortune Brands’ plumbing segment over the past three years.

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