Analysts on Wall Street project that Fortune Brands Innovations (FBIN) will announce quarterly earnings of $1.05 per share in its forthcoming report, representing an increase of 10.5% year over year. Revenues are projected to reach $1.15 billion, declining 1.4% from the same quarter last year.
Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
With that in mind, let's delve into the average projections of some Fortune Brands Innovations metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts forecast 'Net Sales- Outdoors' to reach $307.14 million. The estimate suggests a change of -0.7% year over year.
The consensus estimate for 'Net Sales- Security' stands at $173.36 million. The estimate indicates a change of -8.3% from the prior-year quarter.
The consensus among analysts is that 'Net Sales- Water' will reach $660.52 million. The estimate points to a change of -0.4% from the year-ago quarter.
The collective assessment of analysts points to an estimated 'Operating Income(loss) before charges/gains (Non-GAAP)- Water' of $154.92 million. The estimate is in contrast to the year-ago figure of $144.30 million.
Analysts predict that the 'Operating Income(loss) before charges/gains (Non-GAAP)- Outdoors' will reach $56.66 million. The estimate is in contrast to the year-ago figure of $42.90 million.
The average prediction of analysts places 'Operating Income(loss) Before Charges/Gains (Non-GAAP)- Security' at $22.26 million. Compared to the current estimate, the company reported $32.60 million in the same quarter of the previous year.
View all Key Company Metrics for Fortune Brands Innovations here>>>
Shares of Fortune Brands Innovations have experienced a change of +1.5% in the past month compared to the +1.7% move of the Zacks S&P 500 composite. With a Zacks Rank #2 (Buy), FBIN is expected to outperform the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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