Add as a preferred source on GoogleFortune Brands Targets $70 Million in SG&A Savings by Q1 2027
The company also targets underlying EBITDA margins of at least 20% and expects more than $120 million in annual benefits as 2027 ends.
Fortune Brands Innovations is targeting $70 million in annualized selling, general and administrative expense savings by Q1 2027 as it seeks more consistent performance amid weaker construction demand and portfolio changes.
The company also targets underlying EBITDA margins of 20% or more. Fortune Brands expects slower single-family construction, reduced channel inventories and portfolio changes to weigh on near-term results. Fortune Brands is targeting more visible improvement by Q4 2027 and expects more than $120 million in annual benefits as 2027 ends.
The plan unwinds much of the company's centralization from recent years, with the aim of improving speed and innovation. Portfolio actions include a planned sale of Fiberon for $160 million in cash, an exit from commercial operations in China and a rationalization of its EMEA footprint.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.