MasterBrand posts Q1 net loss of $15.4M; sales down 6.4% YoY to $618M

First Quarter 2026 Net sales were $618.0 million, a decrease of 6.4% compared to the first quarter of 2025, following a mid-single-digit market decline and a slower pace of housing completions. Gross profit was $156.6 million , compared to $202.2 million in the prior year. Gross profit margin decreased 530 basis points to 25.3% on lower volume and the related unfavorable fixed cost leverage and unfavorable product mix. Material, personnel and utility inflation, combined with the impact of tariffs, contributed to overall margin pressure. These headwinds were partially offset by continuous improvement initiatives and targeted tariff mitigation actions. Gross tariff costs were approximately $25 million in the first quarter, and mitigation plans continue to progress. Net (loss) income was $(15.4) million , compared to $13.3 million in the first quarter of 2025, and net (loss) income margin was (2.5)%, compared to net income margin of 2.0% in the prior year, as a result of lower gross profi