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US: Fortune Brands raises earnings forecast

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Spirits and consumer goods company, Fortune Brands Inc., has announced that it is raising its earnings forecasts for the second quarter and for the full year.

"The second quarter is shaping up to be another strong double-digit earnings growth quarter for Fortune Brands, with every one of our businesses performing at or above expectations," said the company's chairman and CEO Norm Wesley.

Wesley said the company expects the second quarter earnings performance to be at least two cents above the top of the range of analysts' current estimates, giving diluted EPS of 87 cents or more for the quarter.

"While economic uncertainty remains, we're also raising our target for full-year performance above the top of the range of analysts' current estimates for 2002," said Wesley. "Fortune Brands is on track to deliver strong double-digit earnings growth in the second quarter and for the full year, even excluding the benefit of lower goodwill amortization."

The company, which includes the Jim Beam and Knob Creek bourbons and Geyser Peak wines in its portflio, will publish its second quarter results on July 18.


Companies: Fortune Brands

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