HighGravityDataFortune Brands Innovations — Feb 4, 2025 release
Fiscal 2024 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0000950170-25-015384
Showing in the filing
Net Income
“$464 to $539”
Period
FY2025
Measure
GAAP-tied
Source
Guidance table
All guidance in this release · 21
Share repurchase authorization for FY2027
“up to $1 billion”
Global market for FY2025
“-2% to 1%”
U.S. market for FY2025
“-2% to 1%”
U.S. SFNC for FY2025
“-2% to 2%”
China market for FY2025
“-15% to -10%”
Outdoors net sales for FY2025
“Flat to 3%”
Operating margin before charges / gains for FY2025
“16.5% to 17.5%”
EPS before charges / gains for FY2025
“$4.15 to $4.45”
Cash flow from operations for FY2025
“Around $680 million to $720 million”
Free cash flow for FY2025
“Around $580 million to $620 million”
Cash conversion for FY2025
“Around 115% to 125%”
Water Innovations net sales for FY2025
“Flat to 4%”
Water Innovations operating margin before ch… for FY2025
“23.5% to 24.5%”
Outdoors operating margin before charges / g… for FY2025
“16.0% to 17.0%”
Corporate expense for FY2025
“$158 million to $160 million”
Interest expense for FY2025
“$114 million to $116 million”
Other income / (expense) for FY2025
“Around $6 million”
Capex for FY2025
“$100 million to $140 million”
Tax rate for FY2025
“24.0% to 24.5%”
Share count for FY2025
“124.0 million to 124.5 million”
Net Income for FY2025
“$464 to $539”
Exhibit 99.1 · the passage around this item
… earlier in the release
FREE CASH FLOW
Fifty-Two Weeks Ended
2025 Full Year
December 28, 2024
December 30, 2023
Estimate
Cash flow from operations (GAAP)
$
667.8
$
1,055.8
$680 to $720
Less:
Capital expenditures
$
193.3
$
256.5
$100 to $140
Free cash flow**
$
474.5
$
799.3
$580 to $620
CASH CONVERSION RATIO
Fifty-Two Weeks Ended
2025 Full Year
December 28, 2024
Estimate
Free cash flow**
$
474.5
$580 to $620
Net Income
$
471.9
$464 to $539
Cash conversion ratio ***
101
%
115% to 125%
** Free cash flow is cash flow from operations calculated in accordance with U.S. generally accepted accounting principles ("GAAP") less capital expenditures. Free cash flow does not include adjustments for certain non-discretionary cash flows such as mandatory debt repayments. Free cash flow is a measure not derived in accordance with GAAP. Management believes that free cash flow provides investors with helpful supplemental information about the Company's ability to fund internal growth, make acquisitions, repay debt and related interest, pay dividends and repurchase common stock. This measure may be inconsistent with similar measures presented by other companies.
*** Cash conversion ratio is free cash flow divided by net income calculated in accordance with GAAP. Cash conversion ratio is a measure not derived in accordance with GAAP. Management believes that cash conversion ratio provides investors with helpful supplemental information about the Company's ability to fund internal growth, make acquisitions, repay debt and related interest, pay dividends and repurchase common stock. This measure may be in
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.