Masco Q2 adjusted EPS $1.19, raises FY guidance to $3.50-$3.65; acquires Sauna360

MASCO CORP /DE/

2023-Q2 EPS reported $2.07 revenue$4,106,000,000

Adjusted Q2 EPS $1.19, up 3% YoY; adjusted operating margin expanded 140 bps to 19.0%.
Net sales $2,127M, down 10% YoY (9% local currency); gross margin improved 350 bps to 36.2%.
Raised FY2023 adjusted EPS guidance to $3.50-$3.65 from prior $3.10-$3.40.
Agreed to acquire Sauna360 Group Oy, adding sauna/wellness brands; expected close Q3 subject to regulatory approval.
Quarterly dividend $0.285/share declared, payable Aug 28, record Aug 11.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MASCO CORP /DE/ reported Full year 2023 results: EPS $3.48 – $3.63 per share (reported), $3.50 – $3.65 per share (adjusted). Guidance raised.

Period: Full year 2023
EPS: $3.48 – $3.63 per share (reported), $3.50 – $3.65 per share (adjusted)
Guidance: raised
Result: guidance update

Exact text from the filing

Raising expected 2023 earnings per share to be in the range of $3.48 – $3.63 per share, and on an adjusted basis, $3.50 – $3.65 per share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

MASCO CORP /DE/ reported Second quarter 2023 results: revenue $2,127 million, EPS $1.16 per share.

Period: Second quarter 2023
Revenue: $2,127 million
EPS: $1.16 per share
Result: reported results

Exact text from the filing

• On a reported basis, compared to second quarter 2022: • Net sales decreased 10 percent to $2,127 million; in local currency, net sales decreased 9 percent • In local currency, North American sales decreased 10 percent and international sales decreased 8 percent • Gross margin increased 350 basis points to 36.2 percent from 32.7 percent • Operating profit decreased 1 percent to $403 million from $408 million • Operating margin increased 160 basis points to 18.9 percent from 17.3 percent • Net income decreased to $1.16 per share, compared to $1.18 per share

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Source: SEC EDGAR

accession 0000062996-23-000031

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