Q3 2023 Earnings Summary
Reported on Oct 26, 2023 (Before Market Open)
Pre-Earnings Price$48.33Last close (Oct 25, 2023)
Post-Earnings Price$51.96Open (Oct 26, 2023)
Price Change
$3.63(+7.51%)
- Masco expects to outperform the market and expand margins in 2024 due to strong brands like Delta and Hansgrohe, a robust innovation pipeline, and leading market positions, even in a flat Repair and Remodel market.
- Despite softening international markets, Masco's Hansgrohe brand is gaining significant market share in Europe, with signs of stabilization and steady demand providing optimism for future growth.
- Masco is investing in new manufacturing facilities, including a new European faucet and shower facility and a paint manufacturing and distribution center in Ohio, positioning the company for future growth.
- Masco's lighting and hardware businesses experienced double-digit sales declines in the third quarter, exceeding the overall segment's decline. This softness was attributed to their higher exposure to the DIY market.
- International markets, particularly Europe and China, continued to weaken, and the company anticipates ongoing softness in these regions into the fourth quarter. This could pose risks to Masco's international plumbing segment.
- Fourth-quarter margins are expected to decline sequentially due to factors such as negative mix in plumbing, increased startup costs for new facilities, and continued pressure from lower volumes. These factors may negatively impact profitability in the near term.
Research analysts covering MASCO CORP /DE/.