Fortune Brands Home & Security Q3 Results Top Estimates; Boosts FY13 Outlook

(RTTNews) - Fortune Brands Home & Security, Inc. (FBHS) reported net income for the third quarter of $64.2 million or $0.37 per share, compared to $40.0 million or $0.24 per share for the year-ago quarter.

Earnings before charges/gains were $0.46 per share for the third quarter, compared to $0.29 in the prior year quarter.

Net sales for the third quarter rose 24% to $1.13 billion from $909.1 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.41 per share on revenue of $1.07 billion for the third quarter. Analysts' estimates typically exclude special items.

Looking forward to the full-year 2013, the company now expects net sales growth of 15% to 16% and earnings before charges/gains of $1.47 to $1.49 per share. Previously, the company expected net sales growth of 13% to 15% and earnings in the range of $1.35 to $1.43 per share.

Analysts currently expect the company to earn $1.43 per share on sales growth of 14.10% for the full year 2013.