What caused FBIN's EPS decline in Q3 2024?

The EPS of Fortune Brands Innovations, Inc. (FBIN) declined from $1.16 to $1.09 in Q3 2024. This decrease can be attributed to several factors:

1. **Macroeconomic Headwinds**: As a company operating in the capital goods sector, FBIN is likely affected by broader economic conditions. Persistent macroeconomic headwinds, such as inflation, interest rate hikes, and supply chain disruptions, can impact the company's financial performance and contribute to a decline in EPS.
2. **Investor Sentiment**: The sentiment around FBIN among investors could have played a role in the EPS decline. For instance, the stock's high P/E ratio of 21.4x, compared to the average P/E ratio of 17x for many U.S. companies, might make it less attractive to investors, leading to decreased demand and potentially lower EPS.
3. **Market Competition**: FBIN may face increased competition from other companies in its sector, which could lead to a decline in market share and revenue. This, in turn, can result in lower EPS as revenue and profit margins are affected.

In conclusion, the decline in FBIN's EPS in Q3 2024 is likely a complex result of macroeconomic challenges, investor sentiment, and market competition.