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.
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Masco Corporation (NYSE: MAS) reported its first quarter results for 2023, revealing a 10% decrease in net sales to $1,979 million compared to the previous year. In local currency, North American sales also fell by 10%, while international sales dropped by 3%. Despite the sales decline, gross margin increased by 180 basis points to 33.8%. Operating profit stood at $315 million, with adjusted operating profit at $312 million. Earnings per share decreased to $0.90, versus $0.97 in Q1 2022. The company continues to project adjusted earnings per share for the year in the range of $3.10 to $3.40. Additionally, Masco appointed David Chaika as interim CFO effective June 1, 2023, to replace John G. Sznewajs.
Kichler Lighting LLC, based in Solon, Ohio, has launched two new interior decorative collections, the New Modern Collection and Ceiling Space Collection, on April 21, 2023. The New Modern Collection consists of 11 families of fixtures that blend edgy designs with soft curves, offering oversized and decorative options for various ceiling styles. The Ceiling Space Collection features 10 families of designs inspired by modern trends and geometric shapes. Both collections are available in multiple finishes, enhancing design versatility for homeowners and professionals alike. Kichler Lighting, part of Masco Corporation (NYSE: MAS), aims to innovate and transform spaces with stylish and efficient lighting solutions.
Behr Paint Company has launched its inaugural Exterior Wood Stain Color of the Year, Cordovan Brown, a versatile and timeless hue aimed at enhancing outdoor spaces. This deep, rich color complements various architectural styles and pairs well with Behr's 2023 Paint Color of the Year, Blank Canvas. Available exclusively at The Home Depot, Cordovan Brown is featured across multiple BEHR® products. Jodi Allen, Behr's Global Chief Marketing Officer, highlighted the focus on simplifying color selection for consumers. The company's long-standing tradition of innovation and quality positions it favorably in the market, backed by its parent company, Masco Corporation.
Masco Corporation (NYSE: MAS) will hold a conference call on April 26, 2023, at 8:00 a.m. ET to discuss its 2023 first quarter results. The results will be available at 7:00 a.m. ET on the same day. Interested participants can register by calling 888-259-6580 (or 416-764-8624 from outside the U.S.). The call will be accessible via the Masco website, with a replay option available shortly after the call ends. The company, headquartered in Livonia, Michigan, specializes in branded home improvement and building products, including Behr® paint and Delta® faucets.
Behr Paint Company launched a new program, 'Women in Paint', on International Women's Day 2023, in collaboration with the Painting Contractors Association (PCA). The initiative aims to enhance the visibility of women in the painting industry, where they currently represent only 10% of the workforce. This program will showcase the achievements of four professional women painters and provide educational resources through training events. Behr's Global Chief Marketing Officer, Jodi Allen, emphasized the importance of supporting women tradespeople to encourage future generations.