"We are proud of our accomplishments during this short period of time.
We laid the foundation for core growth by building a stronger business
model, and deployed capital in value-creating ways to drive incremental
Over the last five years, Fortune Brands built upon its structural competitive advantages and leading market share positions, created stronger operating capabilities and platforms, invested in capacity and productivity, strengthened its management team, and drove new products and programs in more profitable channels.
The Company also grew incrementally by deploying
During this same period of time the Company nearly doubled sales, more than doubled its operating margin and increased EPS nearly five-fold.
Most recently, the Company demonstrated its continued commitment to
drive both organic and incremental growth by forming the
"While our track record over the last five years has been impressive, our most critical achievement is the foundation we have built for our company, which will enable us to capture even greater opportunities ahead," said Klein.
Fortune Brands reached a number of other important milestones that represent its growth and success in the marketplace. In 2015 the Company refined its capital structure and received investment grade ratings from all three credit rating agencies to support the Company's growth strategy. In 2016 the Company was added to the S&P 500 Index. And for the fifth consecutive year in 2016, Fortune Brands was named to FORTUNE Magazine's List of World's Most Admired Companies; the Company ranked No. 3 in the Home Equipment, Furnishings category.
About Fortune Brands
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains certain "forward-looking statements"
regarding future financial performance, the potential of our categories
and brands, and other matters. Where, in any forward-looking statement,
we express an expectation or belief as to future results or events, such
expectation or belief is based on the current plans and expectations of
our management. Although we believe that these statements are based on
reasonable assumptions, they are subject to numerous factors, risks and
uncertainties that could cause actual outcomes and results to be
materially different from those indicated in such statements. Our actual
results could differ materially from the results contemplated by these
forward-looking statements due to a number of factors, including the
factors discussed in Item 1A of our Annual Report on Form 10-K for the
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