Masonite (DOOR) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended December 2023. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on February 19. ...

Owens Corning (OC -8.33%) has agreed to acquire door marker Masonite International (DOOR 34.69%) for a substantial premium to where Masonite has been trading. Investors are celebrating their good fortune, with shares of Masonite up 35% as of 12:30 p.m. ET on Friday.A new platform for growthOwens Corning is a maker of a range of building and construction materials, including roofing, insulation, and composites. In Masonite, a maker of interior and exterior doors, Owens Corning sees an opportunity to expand i ...

Key TakeawaysOwens Corning is buying door maker Masonite International for $3.9 billion to expand its product lines and brands.Owens Corning will pay $133 per share for Masonite, about a 38% premium to Masonite's closing price yesterday.Owens Corning CEO Brian Chambers said the deal will accelerate the company's long-term enterprise growth strategy.Shares of Masonite International (DOOR) surged to an all-time high after the door maker struck a deal to be bought out by building and construction materials man ...

Shares of Masonite International Corp. DOOR, +1.42% rocketed 34% toward its best day in 15 years in premarket trading Friday, after the doors maker agreed to be acquired by construction materials company Owens Corning OC, +0.58% in a cash deal valued at $3.9 billion. Owens Corning’s stock tacked on 0.3% in the premarket. Under terms of the deal, Owens Corning will pay $133 for each Masonite share outstanding, which represents a 37.7% premium to Thursday’s closing price of $96.61 and is above the record clo ...

TOLEDO, Ohio & TAMPA, Fla.--(BUSINESS WIRE)--Owens Corning (NYSE: OC), a leader in global building and construction materials, and Masonite International Corporation (“Masonite”) (NYSE: DOOR), a leading global provider of interior and exterior doors and door systems, today announced they have entered into a definitive agreement under which Owens Corning will acquire all outstanding shares of Masonite for $133.00 per share in cash, representing an approximate 38% premium to Masonite’s closing share price on ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________ FORM 10-Q ____________________________ ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 1, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-11796 ____________________________ Masonite International Corporati ...

Joseph Ahlersmeyer And you think about these products and you see some pictures and I encourage you to go to their website fleetwoodusa.com. This trend macro trend, indoor outdoor living, lights, security, et cetera these are premium luxury products that really supports that innovation. Two, it addresses a large patio door market that we play in today. Remember when we talked at Investor Day, we participated in the hinged patio door market. We don't play in the vinyl sliding market, which we feel is much mo ...

SAFE HARBOR / NON-GAAP FINANCIAL MEASURES NON-GAAP FINANCIAL MEASURES Adjusted EPS is of dicted extrings per cornmon shave attributable to Hosmite (EPS) les restucturing costs, asset impairment, changes, bss (gin) you disposal of substitutio underford business parformance (asel, not of other of other of other of the expensed cases the season or evaluate the everal performance of the Conquery and column of the C underlying parformance of the Company from pariod to period. This measure may be inconsistent wit ...

Financial Performance - Net sales for Q2 2023 were $741.884 million, a decrease of 2.9% compared to $761.874 million in Q2 2022[14] - Gross profit for the six months ended July 2, 2023, was $348.858 million, down from $363.734 million in the same period last year, reflecting a decline of 4.1%[14] - Operating income decreased to $76.556 million in Q2 2023, down 14.2% from $89.216 million in Q2 2022[14] - Net income attributable to Masonite for Q2 2023 was $48.245 million, a decrease of 17.5% compared to $58.515 million in Q2 2022[14] - Basic earnings per share attributable to Masonite were $2.19 for Q2 2023, down from $2.60 in Q2 2022, representing a decline of 15.8%[14] - Net income for the six months ended July 2, 2023, was $88.4 million, a decrease of 30.9% compared to $128.1 million for the same period in 2022[20] - Adjusted EBITDA for the three months ended July 2, 2023, was $118.5 million, slightly up from $118.1 million in the same period last year[82] - Adjusted EBITDA for the six months ended July 2, 2023, was $224.6 million, down from $242.9 million for the same period in 2022[82] Assets and Liabilities - Total assets increased to $2.683 billion as of July 2, 2023, compared to $2.248 billion at the beginning of the year, marking a growth of 19.4%[16] - Long-term debt rose to $1.067 billion as of July 2, 2023, up from $866.116 million at the start of the year, an increase of 23.2%[16] - Cash and cash equivalents increased to $317.157 million as of July 2, 2023, compared to $296.922 million at the beginning of the year, a rise of 6.8%[16] - Total accrued expenses as of July 2, 2023, were $227.8 million, slightly up from $223.0 million on January 1, 2023, indicating an increase of about 2.5%[38] - Long-term debt, excluding the current portion, increased to $1,067.2 million as of July 2, 2023, compared to $866.1 million on January 1, 2023, representing a rise of approximately 23.2%[39] Cash Flow - Net cash flow provided by operating activities increased significantly to $217.8 million from $34.1 million year-over-year[20] - The company reported a net cash flow used in investing activities of $404.3 million, primarily due to the acquisition of businesses[20] - Cash, cash equivalents, and restricted cash at the end of the period totaled $328.7 million, up from $242.6 million at the beginning of the period[20] - Cash provided by operating activities was $217.8 million during the six months ended July 2, 2023, compared to $34.1 million in the same period of 2022, reflecting a $183.7 million increase[157] - Cash used in investing activities increased to $404.3 million, primarily due to a $354.4 million increase in cash used for the acquisition of Endura[158] Acquisitions and Strategic Initiatives - The company completed the acquisition of EPI Holdings, Inc. for approximately $408.1 million, aimed at enhancing its product offerings and growth potential[28] - The strategic acquisition of Endura for approximately $408.1 million is aimed at accelerating growth potential and enhancing product offerings[107] - The company is actively reviewing strategic alternatives for its Architectural segment, including a potential sale, which could lead to material impairment charges[32] - The company is continuously evaluating strategic acquisitions, divestitures, and joint ventures to enhance shareholder value[154] Expenses and Costs - The company reported restructuring costs of $3.065 million in Q2 2023, compared to a benefit of $0.061 million in Q2 2022[14] - Selling, general and administrative expenses increased to $98.7 million, or 13.3% of net sales, compared to 11.9% in the same quarter of 2022[109] - Interest expense related to consolidated indebtedness for the six months ended July 2, 2023, was $29.5 million, compared to $20.7 million for the same period in 2022, marking an increase of about 42.5%[39] - The company experienced lower end market demand and negative impacts from macro-economic conditions, including rising interest rates and unfavorable consumer sentiment[96] Market Performance - North American Residential segment net sales were $585.0 million, down $22.8 million or 3.8% from $607.8 million in the prior year, with a significant impact from lower base volume[114] - European segment net sales decreased by $7.9 million or 10.7% to $66.0 million, primarily due to lower demand in the UK market[115] - Architectural segment net sales increased by $12.4 million or 16.4% to $87.8 million, driven by a 24.4% increase in average unit price[116] Shareholder Returns - The company completed a $100 million accelerated share repurchase transaction in the second quarter of 2022, resulting in the repurchase of 1,167,765 common shares[77] - The company repurchased 327,668 common shares at an aggregate cost of $29.1 million during the six months ended July 2, 2023[160] - The company has $217.8 million available for repurchase under its share repurchase programs as of July 2, 2023[187]

So Trey, on that one, just as a reminder, our business is pretty evenly split between the RRR side as well as new construction. On the new construction side, which is mostly our wholesale business, that services that we see, the inventory position is relatively balanced. Trey Grooms Steven Ramsey So we are not expecting RRR to get any worse than it is now. It is just slightly worse than it was. So remember we said, that we thought new construction would be down20%, and we thought RRR would be down high sing ...