Masco Q1 earnings: Adjusted EPS up 8% to $0.93; sales down 3% to $1.93B

MASCO CORP /DE/

2024-Q1 EPS reported $0.97 revenue$1,926,000,000

Net sales decreased 3% to $1,926M; adjusted operating margin up 90 bps to 16.7%.
Reported EPS of $0.97; adjusted EPS grew 8% to $0.93 (vs. $0.86 prior year).
Plumbing Products sales fell 2%, Decorative Architectural down 3%; international sales declined 5%.
Repurchased 2.1M shares for $148M; returned $212M to shareholders in Q1.
FY 2024 adjusted EPS guidance reaffirmed at $4.00-$4.25 per share.

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 0.9

MASCO CORP /DE/ updated its 2024 guidance (reaffirmed).

Period: 2024
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

Continue to expect 2024 earnings per share in the range of $4.00 – $4.25 per share

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

MASCO CORP /DE/ reported first quarter 2024 results: revenue $1,926 million, EPS $0.97 per share.

Period: first quarter 2024
Revenue: $1,926 million
EPS: $0.97 per share
Result: reported results

Exact text from the filing

MASCO CORPORATION REPORTS FIRST QUARTER 2024 RESULTS Highlights • Net sales decreased 3 percent to $1,926 million • Operating profit increased 1 percent to $318 million; adjusted operating profit increased 3 percent to $322 million • Operating profit margin increased 60 basis points to 16.5 percent; adjusted operating profit margin increased 90 basis points to 16.7 percent • Earnings per share was $0.97 per share; adjusted earnings per share grew 8 percent to $0.93 per share • Repurchased 2.1 million shares for $148 million • Continue to expect 2024 earnings per share in the range of $4.00 – $4.25 per share

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Source: SEC EDGAR

accession 0000062996-24-000011

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