Masterbrand Cabinets parent Fortune Brand Home & Security saw kitchen and bath cabinet sales jump 36% in the first quarter, to $448.6 million, exceeding forecasts. Overall sales of plumbing, security, and vinyl windows and fiberglass doors rose 24% to $1.125 billion.
As a result, Fortune Brands raised its outlook for the full year.
Kitchen & Bath Cabinetry operating income increased $23.7 million over last year to $36.8 million, with GAAP operating income increasing $12.6 million. "The sales increase was led by growth in dealers and home centers, with a continued improvement in repair and remodel volume and mix," said the Fortune Brands.
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