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.
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.
PPG has appointed Irene Tasi as the new Chief Growth Officer, effective December 6, 2021. Tasi will spearhead PPG's growth initiatives, overseeing corporate strategy, marketing, and innovation. Reporting to CEO Michael McGarry, she brings over 20 years of experience from Masco Corporation, where she held various leadership roles, including president of Kichler Lighting. Tasi's background in strategic marketing and operational excellence aims to enhance shareholder value and customer satisfaction.
Masco Corporation (NYSE: MAS) reported strong third-quarter results with an 11% increase in sales to $2,204 million. Operating profit was $385 million, with an operating margin of 17.5%. Earnings per share (EPS) from continuing operations stood at $0.89, while adjusted EPS was $0.99. The company returned $186 million to shareholders and updated its expected EPS range for 2021 to $1.67 - $1.73, adjusted EPS at $3.67 - $3.73. Despite challenges, Masco expects to see continued margin expansion and double-digit growth in adjusted EPS in 2022.