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Jun 30, 2024
Masco Q2 2024 Earnings Report
Masco's Q2 2024 earnings were reported with a slight decrease in net sales but an increase in adjusted earnings per share.
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
Revenue by Segment
Plumbing Products Net Sales Revenue
CapyFin.comDecorative Architectural Products Net Sales Revenue
CapyFin.com 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