All of the anecdotal evidence from door and window manufacturers and dealers saying sales are up was borne out in the recent third quarter financial results for one industry brand. Fortune Brands Home and Security Inc. announced third quarter 2020 results and sales were $1.7 billion, an increase of 13% over the third quarter of 2019.

Doors and Security sales increased 14%, with doors and decking showing double-digit growth and security products returning to mid-single digit growth, the company reported. Operating margin before charges/gains was 16.4%, an increase of 190 basis points versus the third quarter of 2019.

“I continue to be amazed by our teams,” said Nicholas Fink, CEO. “We delivered exceptional performance in an accelerating housing market as demographic forces and consumers focused on home investment drove both renovation and remodeling and new construction activity. Also reflected in our financial results were increased investments in our leading brands, innovation and supply chain capability and capacity that will enable us to continue to capture opportunities and accelerate share gains in a fundamentally robust housing market over the next few years.”

Patrick Hallinan, chief financial officer, reported this all bodes well for 2021 and beyond.

“The permanent efficiency improvements we have made over the past six months will serve as a foundation for future margin improvement and enable us to capture the opportunities presented by what we expect to be a prolonged period of housing market strength,” he said. “With this momentum, we have the ability to make investments and deploy capital to accelerate growth and stakeholder value creation.”

Still, the company is all too aware that COVID-19 and macroeconomic risks remain, and it’s reinitiating formal 2020 financial guidance. For the full year, the company expects net sales growth between 4 and 5% and earnings per share of $4.03 to $4.11, with an operating margin of approximately 14%. The company expects to generate free cash flow of approximately $590 to $620 million for the full year 2020, which includes accelerated investments in capacity to support its customers.

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