Masco Corporation (NYSE:MAS) shares are trading higher Wednesday after the company reported better-than-expected first-quarter financial results.
- Masco stock is showing positive momentum. What’s ahead for MAS stock?
Q1 Results Top Estimates
Masco reported adjusted earnings per share of $1.04, beating the consensus estimate of 88 cents. In addition, it reported revenue of $1.91 billion, beating the consensus estimate of $1.83 billion.
Net sales increased 6% to $1.918 billion, while operating profit rose 10% to $316 million. Operating margin expanded to 16.5% from 15.9% in the prior-year period.
On an adjusted basis, operating profit increased 13% to $324 million, with adjusted operating margin rising to 16.9% from 16.0%. Adjusted earnings per share grew 20% year-over-year to $1.04.
Plumbing Products net sales increased 9%, while Decorative Architectural Products net sales were in line with the prior year. North American sales rose 5% in local currency, while international sales increased 1%.
Masco affirmed fiscal-year adjusted earnings per share guidance of $4.10 to $4.30, versus the consensus estimate of $4.18.
The company also returned $267 million to shareholders through dividends and share repurchases during the quarter, including $202 million used to repurchase 3.1 million shares.
Masco Shares Gain
MAS Price Action: At the time of publication, Masco shares are trading 12.12% higher at $74.86, according to data from Benzinga Pro.
This illustration was generated using artificial intelligence via Midjourney.
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