Quarterly Report on Fortune Brands, Honda and Lamborghini

UPDATE 1-Fortune Brands second-quarter profit falls 41 pct

NEW YORK, July 25 (Reuters) – Fortune Brands Inc ,the maker of Jim Beam bourbon, Moen faucets and Simonton windows, reported a 41 percent drop in quarterly profit on Friday, hurt by the U.S. housing slump and weak consumer sentiment. Net profit this second quarter is only $136 with 88 cents, last second quarter for the same second report, Fortune Brands booked $232 million with $1.48 per share. The results include a $60 million charge for items such as a write-down of the company’s door business due to the housing slowdown.

Excluding special items, earnings were $1.25 per share, beating the analysts’ average forecast of $1.20, according to Reuters Estimates. Fortune also affirmed its full-year earnings outlook, raised its dividend 5 percent and said it bought back a 10 percent stake in its spirits business owned by Sweden’s Vin & Sprit [VSG.UL] for $464 million.

Honda beats Q1 estimates but sees tougher year ahead

TOKYO (Reuters) – Honda Motor Co’s quarterly earnings handily beat market estimates but it cut its annual profit and global car sales forecasts as it battles with rising costs for raw materials and a crumbling U.S. auto market.

Honda’s April-June operating profit, which excludes earnings made in China, fell just 0.2 percent to 221.4 billion yen ($2.1 billion) despite a 16-yen fall in the dollar and soaring prices of steel, platinum, and other raw materials.

Net profit was 179.6 billion yen, ahead of an average estimate for a 19 percent fall to 135.4 billion yen in a Reuters poll of eight brokerages.

For the year to end-March 2009, Honda trimmed its operating profit forecast to 630 billion yen from 650 billion yen to account for an extra 125 billion yen ($1.17 billion) burden from rising steel and other input costs.

Lamborghini H1 profit up on sales, product mix

MILAN, July 25 (Reuters) – Italian luxury car maker Lamborghini said it lifted gross profit by nearly a third in the first half of the year, thanks to higher sales, better products and bigger margins.

Taken from the source: www.reuters.com

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