MasterBrand Q4 2022 Earnings Report
Key Takeaways
MasterBrand reported a 5% increase in net sales, reaching $784.4 million, and an adjusted EBITDA margin expansion of 350 basis points to 12.5% for the fourth quarter of 2022. Net income decreased by 56% to $15.4 million due to separation costs, restructuring charges, and trade name impairments.
Net sales increased by 5% compared to Q4 2021, reaching $784.4 million.
Gross profit increased by 14% to $215.0 million, with a gross profit margin expansion of 220 basis points to 27.4%.
Adjusted EBITDA margin expanded 350 basis points to 12.5%.
Adjusted diluted earnings per share increased to $0.52, compared to $0.32 in the same period last year.
MasterBrand
MasterBrand
Forward Guidance
The Company expects to continue outperforming the underlying market. Year-over-year net sales performance will be impacted by lower backlog at the beginning 2023 than the prior year due to strong service and delivery in 2022.