1448 ET - Building product companies need to raise prices on average by 1.5% to offset the impact of tariffs, says BofA Securities in a research note. The analysts say Fortune Brands Innovations will need a 6% price increase. The maker of Master Lock security products, Moen faucets and other home goods is among the companies the analysts expect to be most impacted by the tariffs as they've shifted production out of China into southeast Asia in recent years, but still have China exposure. "On average, we see an unmitigated EPS impact of 20% for building products in our coverage, but there is a wide variance depending on import sourcing, country exposure and gross margin," say the analysts. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
April 08, 2025 14:48 ET (18:48 GMT)
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