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Masonite International Corporation (NYSE: DOOR) announced that its President and CEO, Howard Heckes, will present virtually at the J.P. Morgan Homebuilding and Building Products Conference on Tuesday, May 17, 2022. The event will include an audio webcast and presentation materials available on their investor website. Masonite, a leading global designer and manufacturer of doors since 1925, serves over 7,000 customers worldwide. Further details about the company can be found at www.masonite.com.
Masonite International Corporation (NYSE: DOOR) will release its Q1 2022 financial results on May 3, 2022, after market close. A conference call to discuss these results is scheduled for 9:00 a.m. EDT on May 4, 2022. Investors can access the call via telephone or through a webcast. A replay will be available until May 18, 2022.
Masonite International Corporation (NYSE: DOOR) announced the appointment of James “Jim” Pelletier as Senior Vice President, General Counsel, and Corporate Secretary, succeeding Robert “Bob” E. Lewis. Lewis contributed significantly since 2012, aiding Masonite's transition to a public company. Pelletier joins from Barnes Group Inc. and has extensive experience in corporate law, having held positions at Pratt & Whitney and GE Aviation. His background is expected to enhance Masonite's strategic goals under the 'Doors That Do More™' vision.
Masonite International Corporation (NYSE: DOOR) has initiated an accelerated share repurchase (ASR) agreement with Morgan Stanley to repurchase $100 million of its common shares. Following this, approximately $256 million remains for future repurchase activities. The company will receive about 848,000 shares initially for the prepayment, with final settlements expected by Q3 2022. This ASR is part of Masonite's ongoing efforts to enhance shareholder value while managing its capital strategy effectively.
Masonite International Corporation (NYSE: DOOR) has approved a new share repurchase program to buy back up to $200 million of its outstanding common shares. This adds to approximately $156 million from an existing program, totaling over $350 million available for repurchase. The company plans to initiate an accelerated share repurchase (ASR) transaction for $100 million in the first quarter of 2022. CEO Howard Heckes stated that the board's actions reflect confidence in the company's growth potential and commitment to driving shareholder value.
Masonite International Corporation (DOOR) reported full-year 2021 net sales of $2.6 billion, marking a 15% increase year-over-year. Net income rose to $95 million, a 37% growth, and Adjusted EBITDA reached $413 million, up 13%. Despite challenges, including labor shortages related to Omicron, the company launched the M-Pwr™ Smart Doors and announced a $200 million share repurchase program. For 2022, Masonite anticipates net sales growth of 6% to 10% and Adjusted EPS of $9.10 to $10.05, demonstrating strong market demand and resilience.
Masonite announces that its online tool, Unlock Masonite, has received the award for “Best Virtual Immersive Experience” at Ragan Communications’ 2021 Video, Visual & Virtual Awards. Launched in 2021, Unlock Masonite enables users to explore innovative door solutions aimed at enhancing comfort, safety, and aesthetics in residential spaces. CMO Jennifer Renaud expressed excitement about this recognition and highlighted future plans to develop innovative products. An expanded version of Unlock Masonite, featuring more door styles, is set to launch later this year.
Masonite International Corporation (NYSE: DOOR) will release its fourth quarter and full year 2021 financial results on February 21, 2022, at 4:00 p.m. EST. A conference call is scheduled for February 22, 2022, at 9:00 a.m. EST to discuss these results. The call will be accessible via telephone and webcast. Masonite is a leading global provider of interior and exterior doors, serving approximately 7,600 customers in 60 countries.
Masonite International Corporation (NYSE: DOOR) has unveiled the Masonite M-PwrTM Smart Doors, the first residential exterior doors integrating power, lights, a video doorbell, and a smart lock. This innovative door system connects to a home's electrical and wireless networks and features a backup battery lasting up to 24 hours during outages. Developed in collaboration with Ring and Yale Home, the doors are currently available through Barringer Homes in Charlotte, North Carolina. Masonite aims to enhance homeowner convenience and security through this technology.