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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.
Revenue by Segment
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
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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