Fortune Brands reports drop in earnings

Deerfield-based Fortune Brands Inc. the company behind consumer brands including Jim Beam, Titleist and Moen, reported that its third-quarter profit dropped 63 percent, with the prior-year's results including a hefty gain related to the termination of a joint venture.

The company earned $124.1 million, or 82 cents per share, in the quarter, down from $335.9 million, or $2.21 per share, a year earlier.

Excluding restructuring charges and other items, profit was 77 cents per share.

Fortune Brands said the impact of the weaker dollar hurt earnings by 7 cents per share.