Masco Q2 2024 Earnings Report
Key Takeaways
Masco Corporation reported a 2% decrease in net sales to $2,091 million for Q2 2024. However, the company achieved a strong adjusted operating profit margin of 19.1% and a 1% increase in adjusted earnings per share to $1.20. The company also repurchased 2.0 million shares for $143 million.
Net sales decreased by 2% to $2,091 million.
Operating profit decreased by 1% to $397 million, while adjusted operating profit decreased by 1% to $399 million.
Adjusted earnings per share increased by 1% to $1.20.
The company repurchased 2.0 million shares for $143 million.
Masco
Masco
Masco Revenue by Segment
Masco Revenue by Geographic Location
Forward Guidance
Masco expects 2024 earnings per share to be in the range of $4.03 - $4.18 and adjusted earnings per share to be in the range of $4.05 - $4.20.
Positive Outlook
- The company anticipates ongoing demand headwinds as market conditions remain challenged.
- The company is focused on execution and operational efficiencies.
- The company is well positioned to drive operating margin expansion for the full year.
- The company remains confident in the long-term fundamentals of the repair and remodel market.
- The company remains confident in the strength of its brands and product portfolio.
Challenges Ahead
- Ongoing demand headwinds
- Challenging market conditions
- Residential repair and remodel activity
- New home construction
- Cost and availability of materials
Revenue & Expenses
Visualization of income flow from segment revenue to net income