---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-037676"
form_type: "8-K"
ticker: "MBC"
cik: "0001941365"
company_name: "MasterBrand, Inc."
filed_at: "2023-05-09T23:59:59+00:00"
generated_at: "2026-06-15T10:29:04.133719+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MasterBrand Q1 adj EBITDA up 0.9% to $81.5M; raises FY outlook, authorizes $50M buyback

## Summary
- Net sales $676.7M, down 12.9% YoY; gross margin up 300bps to 30.2%.
- Net income $35.0M ($0.27 diluted) vs $46.9M ($0.37 pro forma) YoY; higher interest expense.
- Adj EBITDA margin 12.0% (+160bps); FY2023 adj EBITDA outlook raised to $315-345M.
- Operating cash flow $62.1M; free cash flow $59.2M; net debt/adj EBITDA 2.0x.
- Board authorized new $50M share repurchase program through April 2025.

## SEC filing metadata
- accession: 0001213900-23-037676
- form_type: 8-K
- ticker: MBC
- cik: 0001941365
- company_name: MasterBrand, Inc.
- filed_at: 2023-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1941365/000121390023037676/0001213900-23-037676-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1941365/000121390023037676/ea178187-8k_masterbrand.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-037676
- JSON: https://secwatch.observer/filing/0001213900-23-037676.json
- Plain text: https://secwatch.observer/filing/0001213900-23-037676.txt

## Key facts
- Earnings Releases
  MasterBrand, Inc. updated its full year 2023 guidance (raised).
  - Period: full year 2023
  - Guidance: raised
  - Result: guidance update
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1941365/000121390023037676/0001213900-23-037676-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1941365/000121390023037676/0001213900-23-037676-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.