Garik Shmois

McClaran Hayes

Steven Ramsey

Timothy Wojs

Trevor Allinson

Adam Baumgarten

Thomas Mahoney

- MasterBrand reported **Q3 2025 net sales of $698.9 million**, a **2.7% decrease** compared to the same period last year, and **adjusted EBITDA of $90.6 million**, a **13.3% decrease** from Q3 2024.  **[0001941365_2233224_4]** **[0001941365_2233224_5]** 
- The company updated its **full-year 2025 guidance**, now expecting **net sales to be approximately flat** (an upward revision from previous guidance of down low single digits), **Adjusted EBITDA in the range of $315 million-$335 million**, and **Adjusted Diluted EPS between $1.01-$1.13**.  **[0001941365_2233224_7]** **[0001941365_2233224_8]** 
- New Section 232 tariffs on kitchen cabinets and vanities, which took effect on **October 14, 2025**, are expected to result in a net unmitigated exposure of **$20 million-$25 million** for Q4 2025, with rates increasing to **50%** in Q1 2026.  **[0001941365_2233224_2]** **[0001941365_2233224_6]** 
- The proposed merger with American Woodmark received shareholder approval on **October 30** and is expected to close in **early 2026**, with anticipated **$90 million in run-rate cost synergies** by the end of year three post-close.  **[0001941365_2233224_3]** **[0001941365_2233224_4]** 
- Demand across new construction and repair and remodel markets is anticipated to remain subdued through 2026, with gradual improvement expected in late fiscal 2026 or early fiscal 2027.  **[0001941365_2233224_2]**

MasterBrand Reports Q3 2025 Results, Updates Full-Year Guidance, and Provides Merger Update

- MasterBrand reported **Q3 2025 Net Sales of $698.9 million**, a **2.7% decrease** year-over-year, and **Adjusted Diluted EPS of $0.33**, a **17.5% decrease** year-over-year.  **[0001941365_2232802:7]** 
- The decline in Q3 2025 performance was primarily driven by a **mid- to high single-digit market decline**, lower gross profit, and reduced volume.  **[0001941365_2232802:7]** 
- For the full year 2025, MasterBrand projects **Net Sales to be ~Flat**, Adjusted EBITDA between **$315-$335 million**, and Adjusted Diluted EPS between **$1.01-$1.13**, against an expected **High to Mid-Single-Digit % Decline** in the North American Cabinets Market.  **[0001941365_2232802:8]** 
- The company is pursuing a strategic combination with American Woodmark, anticipating **$90 million in annual run-rate cost synergies** by the end of year three and adjusted diluted EPS accretion in year two.  **[0001941365_2232802:6]**

MasterBrand Announces Q3 2025 Results and Full Year Outlook

- MasterBrand, Inc. reported **Q3 2025 net sales of $698.9 million**, a **2.7% decrease** year-over-year, with **diluted earnings per share of $0.14** compared to $0.22 in the prior year period.  **[1941365_0001941365-25-000085_ex99-1xq32025pressrelease.htm:0]** **[1941365_0001941365-25-000085_q32025investorpresentati.htm:3]** 
- The company's **net income margin decreased 150 basis points to 2.6%**, and **Adjusted EBITDA margin decreased 160 basis points to 13.0%** year-over-year in Q3 2025, reflecting a persistently soft demand environment.  **[1941365_0001941365-25-000085_ex99-1xq32025pressrelease.htm:0]** **[1941365_0001941365-25-000085_q32025investorpresentati.htm:3]** 
- For the full year 2025, MasterBrand expects **net sales to be approximately flat** year-over-year, with **Adjusted EBITDA in the range of $315 to $335 million** and **Adjusted diluted earnings per share between $1.01 and $1.13**.  **[1941365_0001941365-25-000085_ex99-1xq32025pressrelease.htm:2]** **[1941365_0001941365-25-000085_q32025investorpresentati.htm:3]** 
- The company continues to progress with its **merger transaction with American Woodmark**, anticipating **annual run-rate cost synergies of $90 million** by the end of year three post-close and accretion to adjusted diluted EPS in year two.  **[1941365_0001941365-25-000085_ex99-1xq32025pressrelease.htm:0]** **[1941365_0001941365-25-000085_q32025investorpresentati.htm:2]**

MasterBrand (MBC)