McClaran Hayes • Zelman Partners LLC

Question 1

McClaran Hayes's questions to Masterbrand Inc (MBC) leadership • Q2 2025

Aug 6, 2025

Question

McClaran Hayes of Zelman Partners asked for the expected phasing of the $90 million in cost synergies, the current progress on the Supreme acquisition's synergy targets, and recent demand trends, including any pre-buy activity.

Answer

MasterBrand CEO Dave Banyard stated the synergy phasing will mirror the Supreme integration, with early wins from supply chain consolidation. He confirmed the Supreme integration is on track, with North Carolina plant consolidations nearly complete. Regarding demand, Banyard noted steady Q2 new construction but anticipates future softness, while American Woodmark CEO Scott Culbreth described the repair and remodel market as "bouncing at the bottom."

Ask Fintool Equity Research AI

Question 2

McClaran Hayes's questions to Fortune Brands Innovations Inc (FBIN) leadership • Q2 2025

Jul 31, 2025

Question

McClaran Hayes questioned how the lower annualized tariff forecast has affected the company's strategy for cost-out actions and investments, and also asked for an update on the business environment in China for the Water segment.

Answer

CEO Nicholas Fink explained that while the financial models are updated daily, the core strategy remains unchanged: building a resilient, regionalized North American supply chain. He emphasized this is a long-term strategic goal beyond tactical tariff mitigation. Regarding China, Fink noted a market slowdown in Q1 due to tariff uncertainty impacting the developer business, but highlighted growth in the showroom and designer channels. He stated the China team has managed costs well, minimizing EPS risk, and the goal is to find the bottom of the developer channel and return to growth.