Masonite Intl Corp Stock Price, News & Analysis

Masonite International Corporation (NYSE: DOOR) reported strong financial results for 2022, achieving net sales of $2.9 billion, an increase of 11%. The net income for the year was $214 million, up 127%, with an Adjusted EBITDA of $446 million, reflecting an 8% growth. In Q4, net sales reached $676 million, a 6% increase, boosted by a 16% rise in average unit price despite a 7% decrease in base volume. The company repurchased $149 million of shares in 2022. The 2023 outlook anticipates a 5% decline in net sales due to lower demand, with Adjusted EBITDA projected between $415 and $445 million.

Masonite International Corporation (NYSE: DOOR) will release its fourth quarter and full year 2022 financial results on February 22, 2023, after market close. A conference call is scheduled for February 23, 2023, at 9:00 a.m. EST to discuss the results. Investors can access a webcast of the call on the Masonite website. Telephone access for listeners is also available with a replay option extending through March 9, 2023. Masonite specializes in designing and manufacturing various door systems for the building construction market, serving over 7,000 global customers since 1925.

Masonite International Corporation (NYSE: DOOR) announces the launch of its M-Pwr™ Smart Doors, a first-of-its-kind residential exterior door that integrates power, LED lights, a smart lock, and a Ring Video Doorbell. These doors will be available in Home Depot stores nationwide later this year. The M-Pwr Smart Doors feature UL-certified technology, ensuring connectivity during a power outage with a backup battery lasting up to 24 hours. Additionally, they will be showcased at CES in Las Vegas from January 5-8, 2023.

Masonite International Corporation (NYSE: DOOR) has completed the acquisition of Endura Products. This strategic move aims to enhance Masonite's product offerings by integrating high-performance door frames and components into its existing portfolio. Funded through a $250 million senior secured term loan and existing cash, the acquisition is expected to support Masonite's Doors That Do More strategy, driving innovation and maximizing growth potential. CEO Howard Heckes expressed enthusiasm for the collaboration and welcomed the Endura team.

Masonite International Corporation (NYSE: DOOR) announced the recognition of its M-Pwr™ Smart Doors with six prestigious industry awards. The accolades affirm the product's innovative design and excellence in the market. Key awards include Residential Tech Today’s 2022 Innovation Award and rAVe’s Best of CEDIA Expo Award. M-Pwr Smart Doors, which integrate power, lighting, and security features, are currently available in select states with plans for wider distribution. These doors are also equipped with emergency backup power, ensuring functionality during outages.

Masonite International Corporation (NYSE: DOOR) reported a 12% year-over-year increase in net sales for Q3 2022, reaching $728 million. Net income surged 51% to $57 million, with diluted earnings per share rising 65% to $2.54. Adjusted EBITDA rose 7% to $112 million. The North American Residential segment saw 19% growth, despite challenges in Europe, where sales dropped 22%. The company is poised for growth with the pending acquisition of Endura Products, enhancing their Doors That Do More™ strategy.

Masonite International Corporation (NYSE: DOOR) has announced the acquisition of Endura Products for approximately $375 million in cash. This strategic move aims to enhance Masonite's innovation and expand its product offerings in high-performance door systems. Endura, with trailing twelve-month net sales of about $270 million, introduces valuable technology including engineered frames and self-adjusting sill systems. The acquisition aligns with Masonite's Doors That Do More^TM strategy and is expected to close near the end of 2022, pending regulatory approval.

Masonite International Corporation (NYSE: DOOR) will release its third quarter 2022 financial results after market close on November 7, 2022. A conference call is scheduled for 9:00 a.m. EST on November 8, 2022, to discuss these results. The call will be accessible via telephone and a webcast on the Masonite website. Listeners are advised to join at least 10 minutes early. A replay of the call will be available until November 22, 2022.

Masonite International Corporation (NYSE: DOOR) announced an expansion of its M-Pwr™ Smart Doors portfolio by partnering with five new builders. These innovative doors integrate smart technology, including LED lighting, a video doorbell, and a smart lock, designed to enhance residential security. The M-Pwr™ Smart Doors are powered through the home’s electrical system and come with an emergency backup battery. This initiative aims to increase the availability of advanced smart home solutions across various communities.