By Kelly Cloonan

Fortune Brands Innovations withdrew its full-year outlook after geopolitical and macroeconomic uncertainty hit its first-quarter sales and profit.

The maker of Master Lock security products, Moen faucets and other home products on Tuesday said it is not providing detailed guidance given uncertainty around consumer demand and volumes.

"Rapidly changing geopolitical and macroeconomic environments are impacting the consumer and demand for our products," Chief Executive Nicholas Fink said.

The company said it plans to fully offset anticipated tariff impacts with sourcing moves, cost cuts and strategic pricing. It will also leverage its U.S. and North American manufacturing presence, Fink said.

The company previously guided for sales to be flat to up 3% for the full-year, with adjusted earnings per share of $4.15 to $4.45. Analysts were looking for sales growth of 1.3% and earnings of $4.16 per share on an adjusted basis.

In the first quarter, the company posted a profit of $51.4 million, or 42 cents a share, compared with $96.4 million, or 76 cents a share, a year earlier.

Adjusted earnings per share were 66 cents, in line with estimates according to analysts polled by FactSet.

Revenue fell 7% to $1.03 billion. Analysts expected $1.07 billion. Organic sales, which exclude the effects of China and other one-time disruptions, fell 5%.

All three segments posted lower sales, with its water innovations business down 10% while its security business fell 4% and outdoors declined 3%.

Write to Kelly Cloonan at kelly.cloonan@wsj.com

(END) Dow Jones Newswires

May 06, 2025 17:35 ET (21:35 GMT)

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