Businessweek

Fortune Brands Home & Security, Inc. announced consolidated unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported total net sales of $890.0 million against $798.8 million a year ago. Operating income was $56.6 million against $21.3 million a year ago. Income before income taxes was $55.1 million against $19.3 million a year ago. Net income was $37.5 million against $13.0 million a year ago. Earnings per diluted common share were $0.22 against $0.08 a year ago. EBITDA before charges or gains was $84.5 million against $45.4 million a year ago. Net debt as at March 31, 2013 was $67.5 million. Adjusted operating income was $62.4 million against $20.9 million a year ago. Adjusted income before income taxes was $60.9 million against $18.9 million a year ago. Adjusted net income was $41.4 million against $12.8 million a year ago. Net income attributable to company was $37.3 million against $12.5 million a year ago. Adjusted net income attributable to company was $41.2 million against $12.3 million a year ago. Adjusted diluted earnings per share were $0.24 against $0.08. Capital expenditures was $14.4 million against $11.2 million a year ago. Cash flow used in operations was $72.5 million against $43.9 million a year ago. The company provided earnings guidance for the full year 2013, the company is targeting diluted earnings per share before charges/gains to be in the range of $1.23 to $1.33 per share, excluding anticipated benefits from the acquisition. On a GAAP basis, the company is targeting diluted earnings per share to be in the range of $1.21 to $1.31 per share, also excluding anticipated benefits from the acquisition. The company's GAAP basis earnings per share range assume the company incurs no additional actuarial gains or loss associated with its defined benefit plans subsequent to March 31, 2013. Based on the company's performance and its expectation to continue outperforming the market for its home products, the company now expects full-year 2013 net sales to increase 9% to 11%, excluding anticipated benefits from the acquisition. The midpoint of guidance represents an increase of 44% over 2012 EPS of $0.89. Free cash flow for 2013 should be over $200 million after CapEx of approximately $100 million.

The Board of Directors of Fortune Brands Home & Security, Inc. has declared a quarterly cash dividend payment to its shareholders. The initial quarterly dividend payment will be $0.10 per share of common stock, which represents an annualized rate of $0.40 per share. The initial dividend payment will be made on June 19, 2013, to all shareholders of record on May 31, 2013. The Company anticipates paying ongoing quarterly cash dividends.

Fortune Brands Home & Security, Inc., Q1 2013 Earnings Call, May 02, 2013

Fortune Brands Home & Security, Inc. announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on May 02, 2013

Fortune Brands Home & Security, Inc., Annual General Meeting, Apr 29, 2013., at 15:30 US Eastern Standard Time. Location: Westin Chicago North Shore 601 N. Agenda: To elect Class II directors; to ratify the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for 2013; to consider advisory vote to approve named executive officer compensation; to consider the approval of the Fortune Brands Home & Security, Inc. 2013 Long-Term Incentive Plan; and to consider the approval of the Fortune Brands Home & Security, Inc. annual executive incentive compensation Plan.