Demand for home products is up, reports Josh Beckerman, an editor at the Wall Street Journal, in this post on MarketWatch. Fortune Brands Home & Security reported that first quarter earnings rose 39%, with cabinets, the largest category, increasing sales by 12%. The company earned $55.7 million, or 35 cents a share, in the first quarter, up from $40 million, or 25 cents a share, in the first quarter of the previous year.
The strong first quarter increased the company's 2016 estimate for earnings to $2.50 to $2.60 a share, which is up from the previous projection of $2.42 to $2.52. The company expects to see 10% to 12% in sales growth. Net sales for the home products company rose 16% to $1.11 billion.