Masco Corporation Reports Earnings Results for the First Quarter Ended March 31, 2024
April 24, 2024 at 07:05 am
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Masco Corporation reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 1,926 million compared to USD 1,979 million a year ago. Net income was USD 215 million compared to USD 205 million a year ago.
Basic earnings per share from continuing operations was USD 0.97 compared to USD 0.91 a year ago. Diluted earnings per share from continuing operations was USD 0.97 compared to USD 0.9 a year ago.
Masco Corporation is one of the world's leading manufacturers of home improvement products. Net sales break down by family of products as follows:
- plumbing equipment (60.8%): plumbing, sink, bath and shower systems (Delta, Brizo, Peerless, Hansgrohe, Axor, Kraus, Easy Drain, Ginger, Newport Brass, Brasstech, Waltec, Bristan ans Heritage brand names), acrylic bathtubs, shower enclosures and shower trays (Delta, Peerless and Mirolin), spa and exercise pool systems (Hot Spring, Caldera, Freeflow Spas, Endless Pool, Tylo and Finnleo) and brass/copper and composite plumbing components (Brasscraft, Plumbshop and Master Plumber);
- architectural decoration products (39.2%): architectural coatings products (paints, primers, special paints, stains and waterproof coatings sold under the Behr, Kilz, Whizz and Elder & Jenks brands), furniture for door and window, do-it-yourself furniture and equipment, glass shower doors, wall plates, hooks and suspension accessories, etc. (Liberty, Brainerd and Franklin Brass).
At the end of 2023, the group had 42 production sites located primarily in North America (30).
Net sales are distributed geographically as follows: North America (80.1%) and Europe (19.9%).
MASCO CORPORATION 