Fortune Brands Home & Security, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company's net sales were USD 1,365.4 million against USD 1,297.8 million last year. Operating income was USD 212.4 million against USD 187.7 million last year. Income from continuing operations before income taxes was USD 199.2 million against USD 174.2 million last year. Income from continuing operations, net of tax was USD 140.3 million against USD 125.1 million last year. Net income attributable to the company was USD 137.7 million against USD 125.2 million last year. Basic and diluted earnings per share from continuing operations were USD 0.90 against USD 0.80 a year ago. EBITDA before charges/gains was USD 246.9 million against USD 221.1 million last year. On non-GAAP basis, operating income was USD 215.6 million against USD 191.7 million last year. Income from continuing operations before income taxes was USD 202.4 million against USD 179.5 million last year. Income from continuing operations, net of tax was USD 143.3 million against USD 129.5 million last year. Net income attributable to the company was USD 140.7 million against USD 129.6 million last year. Diluted earnings per share from continuing operations were USD 0.92 against USD 0.82 a year ago.

For the six months, the company's net sales were USD 2,552.2 million against USD 2,404.3 million last year. Operating income was USD 327.3 million against USD 283.2 million last year. Income from continuing operations before income taxes was USD 303.0 million against USD 258.2 million last year. Income from continuing operations, net of tax was USD 217.7 million against USD 186.1 million last year. Net income attributable to the company was USD 215.1 million against USD 186.2 million last year. Basic and diluted earnings per share from continuing operations were USD 1.39 against USD 1.18 a year ago. EBITDA before charges/gains was USD 401.5 million against USD 354.3 million last year. On non-GAAP basis, operating income was USD 337.6 million against USD 296.3 million last year. Income from continuing operations before income taxes was USD 313.3 million against USD 272.6 million last year. Income from continuing operations, net of tax was USD 226.8 million against USD 197.0 million last year. Net income attributable to the company was USD 224.2 million against USD 197.1 million last year. Diluted earnings per share from continuing operations were USD 1.45 against USD 1.24 a year ago. Net cash provided by operating activities was USD 171.2 million against USD 165.0 million last year. Capital expenditures, net of proceeds from asset sales were USD 59.5 million against USD 74.4 million last year.

The company's 2017 annual outlook continues to be based on a U.S. home products market growth assumption of 6% to 7% and an assumption of 5% to 6% growth for total global market. The company expects full-year 2017 sales growth in the range of 6% to 8%. The company raised the midpoint of its full-year 2017 EPS outlook before charges/gains by 2 cents, with a new range of USD 3.04 to USD 3.12 versus the prior range of USD 3.00 to USD 3.12. The company also expects to generate free cash flow of approximately USD 450 million and Cash flow from operations of USD 560.0 million. The company expects Capital expenditures to be in the range of USD 135.0 million to USD 140.0 million. The Company is targeting diluted EPS from continuing operations to be in the range of USD 2.98 to USD 3.06 per share. The company expects interest expense of around USD 50 million; a full year tax rate of approximately 31%.

The company expects to earn EPS approximately USD 1.63 in the second half of 2017, or about USD 0.12 improvement over the second half of 2016.