Collin Varren

Collin Varren asked about the expected duration of the soft demand environment in the plumbing business and what specific factors Masco would be looking for over the next 6-12 months to indicate an improvement in the demand environment.

Answer

Jon Nudi, President and CEO, expressed confidence in a long-term rebound for R&R activity, citing strong macro factors like record-high home equity levels and an aging U.S. housing stock. He indicated that a gradual improvement in markets is expected into the coming year, driven by factors such as decreasing interest rates and increased consumer confidence, which would encourage consumers to tap into home equity for remodels.

Collin Varren asked about the expected duration of the soft demand environment in plumbing and what specific factors Masco is looking for to signal an improvement in demand over the next 6-12 months.

Answer

President and CEO Jon Nudi acknowledged the uncertainty of the rebound timing but highlighted strong long-term macro factors for R&R, such as record home equity levels and an aging housing stock. He expects a gradual improvement with lower interest rates and increased consumer confidence, which would encourage consumers to undertake deferred remodels, though he could not provide specific 2026 guidance.