Fortune Brands Top Line Declines 11% on Weak Home/Hardware Sales (FO)

10/23/2009-Fortune Brands (NYSE:FO) reported Q3 EPS of 77 cents, ex-items, topping consensus estimates of 61 cents. Revenues in the quarter fell 11% year-over-year to $1.72 billion, but came in ahead of consensus estimates of $1.63 billion.

"Consumers are clearly remaining cautious, but our innovative new-product programs, trusted brands and compelling value propositions are helping us compete successfully in the marketplace," Bruce Carbonari, chairman and chief executive officer of Fortune Brands said. "In the third quarter, we also remained focused on our successful initiatives to reduce cost structures, improve global supply chains and enhance our cash position. These initiatives are benefiting Fortune Brands and helping position the company for future growth."

Write to Chip Brian at cbrian@tradethetrend.com

---------------------------------------------------------------------------------------------

SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.

Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup.html

Related terms: ceo, eps, hardware, market, nyse, sales, securities