MasterBrand Q4 net sales +5% to $784M; FY adj. EBITDA +29%; guides mid-teen sales decline in 2023

MasterBrand, Inc.

Q4 net sales $784.4M (+5% YoY); net income $15.4M, down 56% due to $25M separation costs, $21M restructuring, $20M trade name impairments.
Full year net sales $3.3B (+15% YoY); net income $155.4M (down 15%); adjusted EBITDA $411.4M (+29% YoY).
Q4 adjusted EPS $0.52 vs $0.32 pro forma prior year; full year adjusted EPS $2.02 vs $1.56.
2023 outlook: net sales decline mid-teens; adjusted EBITDA $305-335M (~11-12% margin).
Operating cash flow $235.6M; free cash flow $179.7M; net debt to adj. EBITDA 2.1x.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.92

MasterBrand, Inc. reported the year ended December 25, 2022 results: revenue $3.3 billion, net income $155.4 million, EPS $1.20. Guidance initiated.

Period: the year ended December 25, 2022
Revenue: $3.3 billion
Net income: $155.4 million
EPS: $1.20
Guidance: initiated
Result: reported results

Exact text from the filing

Exhibit 99.1 MasterBrand Reports Fourth Quarter and Full Year 2022 Financial Results ● 4Q and full year 2022 net sales increased 5% and 15% year-over-year to $784.4 million and $3.3 billion, respectively ● 4Q and full year 2022 net income were $15.4 million and $155.4 million, respectively ● 4Q and full year 2022 adjusted EBITDA* increased 47% and 29% year-over-year

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Source: SEC EDGAR

accession 0001213900-23-018225

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