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    Thomas Mahoney

    Senior Analyst at Cleveland Research Company

    Thomas Mahoney is a Senior Analyst at Cleveland Research Company, focusing on the home improvement and consumer sectors with deep expertise in channel strategy and major retailer performance. He covers specific companies such as Masterbrand Inc. and has distinguished himself through actionable market insights and robust engagement with management teams, although precise annualized return metrics and independent analyst rankings are not publicly listed. Mahoney joined Cleveland Research Company in 2007 and has remained with the firm for over 17 years, following his undergraduate studies at the University of Notre Dame. His professional credentials include demonstrated research leadership and extensive experience in developing industry playbooks and customized reports for top institutional investors.

    Thomas Mahoney's questions to MasterBrand (MBC) leadership

    Thomas Mahoney's questions to MasterBrand (MBC) leadership • Q1 2025

    Question

    Thomas Mahoney asked about MasterBrand's comparative strategic position in a future with more tariffs and the potential long-term benefits. He also questioned the drivers of the positive Average Selling Price (ASP) trend in Q1, given negative ASP in late 2024, and asked for clarification on the reasons for the year-over-year inventory growth.

    Answer

    CEO R. Banyard stated that with 80% of production in the U.S., MasterBrand is better insulated from tariffs than many industries and has the domestic capacity to absorb volume if import models become less viable. He noted that the positive Q1 ASP was partly due to a favorable mix, with the higher end of the market remaining resilient, but also highlighted unexpected softness in lower-priced in-stock products. Regarding inventory, Banyard explained the increase was a combination of some strategic pre-buying and excess safety stock resulting from slower-than-anticipated demand, which he expects to normalize.

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    Thomas Mahoney's questions to MasterBrand (MBC) leadership • Q3 2024

    Question

    Thomas Mahoney of Cleveland Research asked about the typical annual trend for internal inventory, whether the Q3 build was normal, and if recent storms would have any impact on the company's supply chain or product demand.

    Answer

    CEO Dave Banyard explained that recent years have not been 'normal' for inventory due to supply chain disruptions. He noted that a Q3 inventory build was abnormal but was a strategic move to get ahead of potential port strikes. He stated that recent storms are not expected to have a material impact, as any resulting remodeling demand tends to be spread out over time. CFO Andi Simon added that the year-over-year inventory increase on the balance sheet is largely due to the addition of Supreme's inventory and related purchase accounting.

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