FORTUNE BRANDS INNOVATIONS Reports Financial Results for FY2023 Q2
August 10, 2023
🌥️Earnings Overview
On July 27 2023, FORTUNE BRANDS INNOVATIONS ($NYSE:FBIN) reported their financial results for the second quarter of FY2023, which ended on June 30 2023. Total revenue was USD 1163.7 million, a decrease of 44.9% compared to the same period in the prior year. Net income also decreased by 46.8%, amounting to USD 102.1 million.
Market Price
The stock opened at $76.5 and closed at $75.2, down by 0.8% from the previous closing price of 75.8. The company attributed its strong financial performance to its commitment to innovation and developing new products that have proven to be popular among customers. In addition, FORTUNE BRANDS INNOVATIONS has also been successful in leveraging its strong marketing capabilities and expanding its global presence over the past year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for FBIN. More…
| Total Revenues | Net Income | Net Margin |
| 4.53k | 500.5 | 11.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for FBIN. More…
| Operations | Investing | Financing |
| 1.03k | -1.18k | 473.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for FBIN. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.87k | 4.7k | 17.16 |
Key Ratios Snapshot
Some of the financial key ratios for FBIN are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -7.4% | -0.9% | 15.0% |
| FCF Margin | ROE | ROA |
| 17.3% | 20.0% | 6.2% |
Analysis
At GoodWhale, we recently conducted an analysis of FORTUNE BRANDS INNOVATIONS’ wellbeing. Based on our Risk Rating, FORTUNE BRANDS INNOVATIONS is a medium risk investment in terms of financial and business aspects. During our analysis, we also detected one risk warning in the balance sheet. If you want to know more about this risk warning, we recommend that you register on goodwhale.com. There, you will be able to explore this risk warning in detail. We hope that this information can be helpful to you in making sound investment decisions. More…
Peers
The competition between Fortune Brands Innovations Inc and its competitors is fierce. Arlo Technologies Inc, Airborne Security & Protection Services Inc, and Central Security Patrols Co Ltd all strive to gain an advantage in the market. Each company has their own unique strategies and approaches to be successful, making the competition even more intense. With the potential to gain a greater share of the market, these companies are engaged in a battle to outdo one another.
– Arlo Technologies Inc ($NYSE:ARLO)
Arlo Technologies Inc is a home security and connected lifestyle company that provides homeowners, business owners, and renters with peace of mind by providing simple, affordable, and secure solutions for their security and smart home needs. As of 2023, the company has a market cap of 1.03B which reflects the company’s success in the home security and smart home solutions industry. Despite the success, the Return on Equity for the company is -43.51%. This statistic shows that Arlo Technologies Inc is not maximizing its shareholder value as well as it could be.
– Airborne Security & Protection Services Inc ($OTCPK:ABPR)
Central Security Patrols Co. Ltd is a public security company that specializes in providing security services and solutions for businesses, residences, and other organizations. The company has a market capitalization of 41.99B as of 2023, making it one of the largest security companies in the world. Central Security Patrols Co. Ltd has also displayed stability and strong performance with a Return on Equity (ROE) of 8.45%. This demonstrates that the company is making good use of its assets and generating shareholder value.
Summary
Investors should take note of Fortune Brands Innovations’ financial results for FY2023 Q2, which were released on July 27th. The company reported a total revenue of USD 1163.7 million, a 44.9% decrease from the same period last year. Furthermore, net income dropped 46.8%, to USD 102.1 million.
These numbers are concerning, as it reflects a decline in the company’s financial performance over the past year. Investors should consider the current economic climate and the potential for further losses when deciding whether to invest in this company.
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