Masco Corporation (MAS) reported third-quarter 2024 results, wherein earnings met the Zacks Consensus Estimate and net sales marginally beat the same. Strong operational efficiency helped it deliver strong earnings amid challenging market conditions. Shares of Masco lost 0.3% in the pre-market trading session on Tuesday. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. Masco's focus on a balanced capital deployment strategy helped it return $255 million to shareholders via dividends ...

Financial Data and Key Metrics - Net sales were in line with the prior year, with gross profit margin rising 90 basis points to 36.7% due to operational efficiencies and cost savings [8] - Operating profit increased by $12 million (3%) to $360 million, with operating profit margin expanding 60 basis points to 18.2% [9] - Earnings per share grew 8% to $1.08 per share [9] - Free cash flow remained strong, with $255 million returned to shareholders through dividends and share repurchases [19] - Full-year operating margin is expected to be approximately 17.5%, at the top end of the previously guided range [22] Business Segment Performance Plumbing Segment - Sales increased 2% overall, with North American Plumbing sales up 2% and International Plumbing sales up 3% in local currency [10][11] - Operating profit for the segment increased by $17 million to $242 million, with operating margin expanding 100 basis points to 19.9% [11] - New product launches, such as the Tankless Reverse Osmosis Water Filtration System and PowderSpray Faucet, drove innovation and market leadership [12][13] Decorative Architectural Segment - Sales decreased 3% in the quarter, with DIY paint sales down mid-single digits and pro-paint sales up high single digits [15][16] - Operating profit decreased by $6 million to $138 million, with operating margin remaining strong at 18.1% [16] - The divestiture of Kichler Lighting impacted sales, but the company remains focused on core businesses [15] Market Performance - North American sales were in line with the prior year, while international sales increased 3% in local currency [28] - Europe showed signs of stabilization, while the China market remained challenging but benefited from project pipelines [32] - DIY paint market remains soft, with full-year DIY paint business expected to be down high single digits [35] Strategic Direction and Industry Competition - The company is focused on driving operational efficiencies, cost savings, and innovation to maintain market leadership [7][12] - The divestiture of Kichler Lighting is part of the strategy to streamline the portfolio and focus on core businesses [15] - The company expects to deploy approximately $750 million in 2024 for share repurchases or acquisitions [20] Management Commentary on Market Environment and Future Outlook - The company believes the long-term fundamentals of the repair and remodel markets are strong, driven by factors such as aging housing stock and higher home equity levels [24] - Management expects double-digit EPS growth through cycles, supported by favorable market fundamentals and disciplined capital deployment [25] - The company is well-positioned to outperform competitors due to its capacity, efficiency, and cost structures [25] Other Important Information - The company completed the sale of Kichler Lighting, which is expected to be accretive to margins [15][66] - The acquisition of Sauna360 has been successfully integrated, with the launch of Tylö branded saunas into the existing dealer network [14] - The company maintains a strong balance sheet with $1.6 billion of liquidity and gross debt to EBITDA at 2x [36] Q&A Session Summary DIY Paint Weakness - DIY paint sales remained consistent through the quarter, with no notable changes [46][47] - The company does not view the election as a direct factor affecting DIY paint but emphasizes the importance of responding to market volatility [48][49] Margin Performance - The company achieved its sixth consecutive quarter of margin expansion, driven by operational excellence and cost savings initiatives [51][52] - Full-year margins are expected to expand for both Plumbing and Decorative Architectural segments [53] Repair and Remodel Market Outlook - The company maintains its expectation of 3% to 5% growth for the repair and remodel market, with strong long-term fundamentals [56][57] - The timing of market recovery remains uncertain, but the company is well-positioned to respond quickly [57] Pro Paint Business - The pro paint business is approximately $900 million in size, with expectations to continue growing above market and gaining share [63] - The company has flexibility to shift production from DIY to pro paint based on demand [97] Commodity and Freight Costs - Commodity costs, particularly copper and zinc, have been a headwind, but the company has offset these through cost savings and pricing actions [84][85] - Commodity costs remain elevated, which will factor into pricing strategies for 2025 [89] M&A Strategy - The company remains focused on bolt-on acquisitions within its core businesses, such as Plumbing, coatings, and wellness [101][102] - Proceeds from the Kichler divestiture are expected to be allocated to share buybacks, increasing the capacity for buybacks or acquisitions to $750 million [104] Wellness Business - The Wellness business, including Sauna360, has shown stability and is well-positioned for future growth [111][112]

Masco (MAS) came out with quarterly earnings of $1.08 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $1 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this maker of Behr paint, Delta faucets and other building products would post earnings of $1.16 per share when it actually produced earnings of $1.20, delivering a surprise of 3.45%. Over the last four quarters, the company has surpassed consensus EPS estimates ...

Third Quarter 2024 Earnings Presentation October 29, 2024 Safe Harbor Statement This presentation contains statements that reflect our views about our future performance and constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "outlook," "believe," "anticipate," "appear," "may," "will," "should," "intend," "plan," "estimate," "expect," "assume," "seek," "forecast," and similar references to future pe ...

Financial Performance - Net sales for Q3 2024 were $1,983 million, flat compared to Q3 2023, while net sales for the first nine months of 2024 decreased by 1% to $6,000 million compared to the same period in 2023[59][61]. - Gross profit for Q3 2024 was $725 million, a decrease of 3%, impacted by higher commodity costs and unfavorable sales mix[63]. - Operating profit for Q3 2024 was $357 million, down 7% from Q3 2023, primarily due to decreased gross profit and higher selling, general and administrative expenses[64]. - Selling, general and administrative expenses for Q3 2024 increased by 2% to $368 million, mainly due to higher marketing costs[64]. - Net income for Q3 2024 was $167 million, a decrease of 33% compared to $249 million in Q3 2023, with diluted income per share falling to $0.77 from $1.10[69]. - The effective tax rate for Q3 2024 was 27%, unfavorably impacted by adjustments related to filed tax returns and uncertain tax positions[68]. - Other income (expense), net for Q3 2024 was $(109) million, significantly impacted by a preliminary loss on the sale of Kichler Lighting of $81 million[67]. Sales Performance by Segment - Net sales for Plumbing Products increased by 2% to $1,219 million for the three months ended September 30, 2024, and by 1% to $3,665 million for the nine months ended September 30, 2024[71]. - Decorative Architectural Products segment saw a decrease in net sales of 3% for the three months and 5% for the nine months ended September 30, 2024, primarily due to the divestiture of the Kichler business[74]. - North America net sales were flat for the three months ended September 30, 2024, and decreased by 1% for the nine months, impacted by lower sales volume and the divestiture of Kichler[76]. - International net sales increased by 3% for the three months ended September 30, 2024, driven by higher sales volume, while decreasing by 2% for the nine months[78]. Cash and Investments - Cash and cash investments totaled approximately $646 million as of September 30, 2024, compared to $634 million at December 31, 2023[80]. - The company repurchased approximately 6.6 million shares for about $486 million during the nine months ended September 30, 2024, with $1.2 billion remaining under the share repurchase authorization[90]. - The company anticipates using approximately $750 million of cash for share repurchases in 2024 as part of its long-term capital allocation strategy[90]. - Net cash provided by operations was $668 million for the nine months ended September 30, 2024, primarily driven by operating profit[91]. Strategic Initiatives and Risks - The company aims to offset lower demand and elevated costs through productivity improvements and pricing initiatives[57]. - The acquisition of Sauna360 Group Oy contributed to sales growth in the Plumbing Products segment, while the divestiture of Kichler negatively impacted Decorative Architectural Products sales[72][89]. - Future performance may be influenced by residential repair and remodel activity, new home construction, and the ability to maintain strong brands[96]. - The company faces risks related to supply chain, material costs, and cybersecurity vulnerabilities[96]. - The company emphasizes the importance of attracting and retaining a talented and diverse workforce[96]. - The company is focused on developing innovative products to respond to changing consumer preferences[96]. - Strategic initiatives and acquisition strategies are critical for achieving anticipated benefits[96]. - The company acknowledges the impact of extreme weather events and climate changes on operations[96]. Internal Controls and Legal Matters - The company's disclosure controls and procedures were effective as of September 30, 2024[99]. - There were no changes that materially affected internal control over financial reporting during the quarter ended September 30, 2024[100]. - Legal proceedings involving the company are detailed in the condensed consolidated financial statements[102]. - The company does not undertake any obligation to update forward-looking statements unless required by law[97].

Exhibit 99 https://files.reportify.cc MASCO CORPORATION REPORTS THIRD QUARTER 2024 RESULTS Highlights • Net sales were in line with prior year at $1,983 million • Operating profit decreased 7 percent to $357 million; adjusted operating profit increased 3 percent to $360 million • Operating profit margin decreased 140 basis points to 18.0 percent; adjusted operating profit margin increased 60 basis points to 18.2 percent • Earnings per share was $0.77 per share; adjusted earnings per share grew 8 percent to ...

Masco Corporation (MAS) is well-poised for growth, given its sustained focus on operational efficiency, investment in new products and inorganic drive. This apart, the company is well-positioned for robust long-term growth, thanks to its market-leading brands, acquisition synergies and strong liquidity position. In the past three months, Masco's stock has gained 27.4% comparing favorably with the Zacks Building Products – Miscellaneous industry, the broader Construction sector and the S&P 500 index's growth ...

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Core Points - Behr Paint Company has launched its first-ever BEHR® Student Design Competition in partnership with MattoBoard, aimed at emerging design students [1][2] - The competition invites students to submit original design plans for commercial spaces, with a theme inspired by the BEHR 2025 Commercial Color Forecast [1][2] - The competition runs from September 19 to November 10, 2024, and includes a cash prize of $3,000 for the winner and $1,000 for their design school [3] Competition Details - The judging panel consists of industry professionals including Erika Woelfel, Guy Adam Ailion, Kayla Kratz, and Amber Jones [2] - The runner-up will receive a cash prize of $1,500, while the second runner-up will receive $500 [3] - All winners will also receive a 1-year MattoBoard Pro Subscription [3] Company Background - Behr Paint Company, founded in 1947, is a leading manufacturer of paints and related products in North America [6] - The company is committed to quality, innovation, and value, serving both DIYers and professional contractors [6] - Behr Paint Company is a subsidiary of Masco Corporation, which is publicly traded on the NYSE [6]

New data shows choosing a red paint color is on the rise amongst Americans–where nostalgic flair meets undeniable elegance SANTA ANA, Calif., Aug. 21, 2024 /PRNewswire/ -- Today, Behr Paint Company announces its highly anticipated 2025 Color of the Year: Rumors, a deep and dynamic ruby red that empowers DIYers, designers and paint professionals to create impactful color moments. In fact, about 75% of Americans say they would consider painting a room or wall a shade of red, and Rumors is the perfect choice w ...