Fortune Brands Q1 Profit Rises; Narrows 2014 EPS Outlook Range

(RTTNews) - Fortune Brands Home & Security, Inc. (FBHS) reported that its first-quarter net income attributable to company increased to $40.8 million or $0.24 per share, from $37.3 million or $0.22 per share, a year ago. Earnings per share before charges/gains was $0.25 for the quarter.

On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.32 for the quarter. Analysts' estimates typically exclude special items.

Total net sales increased to $966.2 million from $890.0 million. Analysts expected revenue of $993.81 million for the quarter.

Fortune Brands updated its 2014 annual outlook for sales and earnings per share. The company now expects earnings per share before charges/gains to be in the range of $1.90 to $1.99. Analysts expect the company to report 2014 earnings per share of $1.98.

The company now expects full-year 2014 sales growth in the range of 10-12 percent.