Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
MasterBrand, Inc. updated its full year 2023 guidance (raised).
- Period
- full year 2023
- Guidance
- raised
- Result
- guidance update
Exact text from the filing
For full year 2023, the Company expects: ● Net sales year-over-year decline of mid teens, based on market declines of low teens ● Adjusted EBITDA* in the range of $315 million to $345 million, with related adjusted EBITDA* margins of roughly 11.5 to 12.5 percent The Company is increasing the midpoint of full-year adjusted EBITDA* outlook by $10 million following stronger than expected performance in the first quarter of 2023.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
MasterBrand, Inc. reported fiscal quarter ended March 26, 2023 results: revenue 676.7 million, net income 35.0 million, EPS 0.27.
- Period
- fiscal quarter ended March 26, 2023
- Revenue
- 676.7 million
- Net income
- 35.0 million
- EPS
- 0.27
- Result
- reported results
Exact text from the filing
Net sales were $676.7 million, compared to $777.1 million in the first quarter of 2022, a decrease of 12.9%. Gross profit was $204.6 million, compared to $211.0 million in the comparable period of the prior year. Gross profit margin expanded 300 basis points to 30.2%, compared to 27.2% in the first quarter of 2022. Net income was $35.0 million, compared to $46.9 million in the first quarter of 2022, primarily due to higher interest expense of $17.4 million, related to bank debt issued in December 2022 at the time of our separation from Fortune Brands Home and Security. Diluted net income per share was $0.27, compared to pro forma diluted net income per share of $0.37 in the comparable period of the prior year.
View on SEC.gov