Masonite International Corporation (NYSE: DOOR) has appointed Jay Steinfeld to its Board of Directors effective immediately. Jay, founder and former CEO of Global Custom Commerce, significantly expanded his company, leading it to become the top online window covering retailer, which was acquired by The Home Depot in 2014. He has experience in online retail and entrepreneurship, and holds a BBA in Accounting. Chairman Robert J. Byrne expressed confidence in Jay's extensive knowledge of the building products industry and looks forward to his contributions.
Masonite International Corporation (NYSE: DOOR) reported Q3 2020 results with net sales rising 6% to $588 million compared to $552 million in Q3 2019. However, the company posted a net loss of $22 million, down from a profit of $15 million, largely due to $52 million in goodwill impairment and $38 million related to a class action settlement. Adjusted EBITDA increased to $109 million from $76 million, while diluted adjusted earnings per share rose to $2.16 from $1.08. Year-to-date sales decreased slightly to $1.639 billion, attributed to COVID-19's impact, despite a 7% increase in average unit price.
Masonite International Corporation (NYSE: DOOR) announced that CEO Howard C. Heckes will present virtually at the Baird 2020 Global Industrial Conference on November 11, 2020. Investors can access the live webcast on the company’s Investor Relations website at www.masonite.com, where a replay will be available for two weeks post-event. Established in 1925, Masonite is a global leader in door design and manufacturing, serving around 8,500 customers across 60 countries.
Masonite International Corporation (NYSE: DOOR) will release its third quarter 2020 financial results after the market closes on November 2, 2020. A conference call to discuss these results will take place on November 3, 2020, at 9:00 a.m. EST. Investors can access a live audio webcast of the call on Masonite's website, and telephone access will be available as well. A replay of the call will be available until November 18, 2020.
Masonite International Corporation (NYSE: DOOR) has appointed Alex Legall as the Senior Vice President and Business Leader for its Architectural segment, effective immediately. Legall replaces Graham Thayer, who is leaving the company on October 2, 2020. With over 25 years of experience in sales and management, Legall previously held positions at Owens Corning and Carrier Corporation. CEO Howard Heckes expressed confidence in Legall's ability to lead the Architectural business as the company continues to implement its strategic goals.