Welcome to our dedicated page for Masco news (Ticker: MAS), a resource for investors and traders seeking the latest updates and insights on Masco stock.
Masco Corporation reports developments tied to its global design, manufacture and distribution of branded home improvement and building products. The company’s portfolio includes Behr paint; Delta and hansgrohe faucets, bath and shower fixtures; Liberty decorative and functional hardware; and HotSpring spas. News commonly covers sales and margin results, segment trends in plumbing and decorative architectural products, share repurchases and dividends, product introductions from Behr, investor presentations, and leadership or operating-structure changes.
Company updates also address business drivers and risks linked to residential repair and remodel activity, new home construction, brand strength, consumer purchasing patterns, key customers, material costs, suppliers, tariffs, international operations, cybersecurity and information systems.
Behr Paint Company has launched BEHR® COPPER FORCE™ Interior Paint, an innovative product designed to kill 99.9% of bacteria and viruses, including SARS-CoV-2, within two hours on painted surfaces. Powered by Corning® Guardiant® technology, this paint offers an additional layer of protection for up to six years while enhancing aesthetic appeal. Available in over 2,000 colors at select Home Depot locations, it aims to meet the heightened hygiene standards in homes and facilities like schools and hospitals.
Masco Corporation (NYSE: MAS) has declared a quarterly dividend of $.28 per common share, which will be paid on June 13, 2022. Shareholders must be on record by May 27, 2022 to receive the dividend. Headquartered in Livonia, Michigan, Masco is a leader in home improvement and building products, with recognized brands like Behr paint and Delta faucets. The company focuses on leveraging its brand portfolio across various categories to enhance value for customers and shareholders.
Masco Corporation (NYSE: MAS) has entered into an accelerated share repurchase (ASR) agreement with Wells Fargo Bank to repurchase $500 million of its common stock. This is part of its previously announced $2 billion share repurchase authorization from February 9, 2021. Masco will receive approximately 7.9 million shares initially on May 10, 2022, based on a closing stock price of $53.76. The final number of shares will depend on Masco's volume-weighted average price, with completion expected by July 27, 2022.
Masco Corporation (NYSE: MAS) reported a strong first quarter of 2022 with a 12% increase in net sales, totaling $2,201 million. Adjusted earnings per share rose 7% to $0.95, while net income surged 185% to $0.97. Operating profit experienced a slight decline of 3% to $353 million, with the operating margin at 16.0%. The company returned $431 million to shareholders via dividends and share repurchases. Masco anticipates adjusted earnings per share for 2022 between $4.15 and $4.35, an increase from previous estimates.
Masco Corporation (NYSE: MAS) will hold a conference call on April 27, 2022, at 8:00 a.m. ET to discuss its 2022 first quarter results. The call will be led by President and CEO Keith Allman, with registration required five to ten minutes before the start. Results and supplementary materials will be available at 7:00 a.m. ET the same day, accessible via Masco's website. A replay will be offered post-call until May 27, 2022.
Masco, headquartered in Livonia, Michigan, specializes in branded home improvement and building products.
Behr Paint Company is entering the NFT market in collaboration with Doodles, a popular NFT collection, during the SXSW festival in Austin, Texas, from March 12-14, 2022. Attendees can engage with Doodles' immersive world using Behr paint in a colorful virtual painting wall. The event will feature exclusive POAP NFTs and a surprise musical performance. This partnership aims to attract DIY enthusiasts and expand Behr's presence in the innovative NFT space, leveraging Doodles’ artistic appeal and vibrant color palette.
Masco Corporation (NYSE: MAS) announced that its Chief Financial Officer, John Sznewajs, will participate in a live fireside chat at the Barclays Industrial Select Conference on February 23 at 8:35 a.m. ET in Miami, Florida. The event will be accessible via a live webcast on the company’s website, and a replay will be available until March 23, 2022. Masco is a leader in home improvement and building products, offering brands like Behr®, Delta®, and Kichler®.
Masco Corporation (NYSE: MAS) reported a 9% increase in fourth quarter sales, reaching $2,022 million. Operating profit was $218 million, with adjusted operating profit at $265 million. Earnings per share from continuing operations declined to $0.55, while adjusted EPS was $0.67. For 2022, earnings per share are projected between $4.06 and $4.26. The Board declared a quarterly dividend of $0.28 per share, a 19% increase.
In 2021, total sales grew 17%, totaling $8,375 million, while adjusted EPS rose 19% to $3.70.
Curbio, a leader in pay-at-closing home improvement solutions, has secured $65 million in a Series B funding round, bringing total funding to $93 million since its inception in 2017. Led by Revolution Growth, the funding will aid Curbio's expansion and the development of its proprietary technology. With projects yielding a 20% increase in selling prices and a 50% reduction in project duration, Curbio aims to capitalize on an $85 billion market opportunity to enhance the home selling process.
Masco Corporation (NYSE: MAS) announced a conference call set for February 8, 2022, at 8:00 a.m. ET to discuss its fourth quarter and full-year 2021 results. The call will be hosted by CEO Keith Allman and will include distribution of results at 7:00 a.m. ET. Interested parties can register via phone or access the webcast through Masco's website. A replay will be available shortly after the call, continuing until March 10, 2022. Masco is recognized for its leading brands in home improvement and building products, enhancing value for customers and shareholders.