MasterBrand Q1: net sales $638M (-5.7%), net income $37.5M (+7.1%); reiterates 2024 outlook

MasterBrand, Inc.

2024-Q1 EPS reported $0.29 revenue$638,100,000

Net sales down 5.7% YoY to $638.1M; net income up 7.1% to $37.5M ($0.29 diluted EPS vs $0.27).
Adjusted EBITDA margin improved 40 bps to 12.4%; adjusted diluted EPS $0.29 vs $0.28.
Gross profit margin expanded 190 bps to 32.1% on cost savings offsetting lower pricing and inflation.
Operating cash flow of $18.7M and free cash flow of $11.7M for the first quarter.
Company reiterates full-year 2024 financial outlook; CEO cites progress on strategic initiatives.

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

MasterBrand, Inc. reported the fiscal quarter ended March 31, 2024 results: revenue $638.1 million, net income $37.5 million, EPS $0.29. Guidance reaffirmed.

Period: the fiscal quarter ended March 31, 2024
Revenue: $638.1 million
Net income: $37.5 million
EPS: $0.29
Guidance: reaffirmed
Result: reported results

Exact text from the filing

The information in this Item 2.02 and --- EX-99.1 (EX-99.1) --- MasterBrand Reports First Quarter 2024 Financial Results • Net sales decreased 5.7% year-over-year to $638.1 million • Net income was $37.5 million compared to $35.0 million in the prior year • Adjusted EBITDA 1 margin increased 40 basis points year-over-year to 12.4% • Diluted earnings per

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Source: SEC EDGAR

accession 0001941365-24-000066

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