Masco Corporation - MAS STOCK NEWS

Masco (NYSE: MAS) reported third quarter 2024 results with net sales of $1,983 million, in line with the prior year. The company saw mixed performance across segments, with Plumbing Products' net sales increasing 2% while Decorative Architectural Products' sales decreased 3%. Operating profit decreased 7% to $357 million, though adjusted operating profit increased 3% to $360 million. Earnings per share was $0.77, with adjusted EPS growing 8% to $1.08. The company revised its 2024 adjusted EPS guidance to $4.05-$4.15, down from the previous $4.05-$4.20 range, citing challenging market conditions.

Masco (NYSE: MAS) has announced its upcoming conference call to discuss 2024 third quarter results. The call is scheduled for Tuesday, October 29, 2024, at 8:00 a.m. ET, and will be hosted by Masco President and CEO Keith Allman. Participants are advised to register 5-10 minutes before the start time by dialing 800-549-8228 or 646-564-2877, using the conference ID 72522.

The Q3 results and supplemental material will be available on Masco's website at 7:00 a.m. ET on the same day. The call will be webcast live through the company's website, with a replay available until November 29, 2024. Masco , headquartered in Livonia, Michigan, is a global leader in branded home improvement and building products, with a portfolio including Behr® paint, Delta® and hansgrohe® fixtures, Liberty® hardware, and HotSpring® spas.

Behr Paint Company announces its first-ever BEHR® Student Design Competition in partnership with MattoBoard. The competition, open from September 19 to November 10, 2024, invites full-time or part-time emerging professional design students to submit original design plans for commercial spaces. The theme, 'No Clear Boundaries,' is inspired by the BEHR 2025 Commercial Color Forecast.

Entrants must incorporate colors from the forecast and BEHR's 2025 Color of the Year, Rumors, a deep ruby red shade. The competition aims to support emerging designers' careers. Prizes include a $3,000 cash award for the winner, plus $1,000 for their design school. Runners-up will receive $1,500 and $500 respectively. All winners get a 1-year MattoBoard Pro Subscription.

Masco (NYSE: MAS) has completed the sale of Kichler Lighting to an affiliate of Kingswood Capital Management. Kichler Lighting, based in Solon, Ohio, is a provider of decorative residential and light commercial lighting products, ceiling fans, and LED lighting systems. Kingswood Capital Management, the new owner, also owns Progress Lighting, another provider of decorative lighting solutions.

Masco , headquartered in Livonia, Michigan, is a global leader in home improvement and building products. Its portfolio includes brands such as Behr® paint, Delta® and Hansgrohe® fixtures, Liberty® hardware, and HotSpring® spas. The company leverages these brands across various product categories, sales channels, and geographies to create value for customers and shareholders.

Kingswood Capital Management has acquired Kichler Lighting from Masco (NYSE: MAS) and will merge it with Progress Lighting to create a leading residential lighting platform in North America. The combined company will leverage complementary brands, expanded distribution, and enhanced service capabilities to serve various sales channels. Sean Veit, former Progress CEO, will lead as CEO, while Vijay Shankar, former Kichler President, will serve as Executive Chairman.

This strategic merger aims to preserve and enhance the distinct positioning of both Progress and Kichler brands, founded in 1906 and 1938 respectively. The leadership team, comprised of executives from both companies, is focused on a thoughtful integration process to maximize benefits for customers across homebuilder, trade, showroom, retail, and ecommerce segments.

Masco (NYSE: MAS) has announced a definitive agreement to sell its Kichler Lighting business to an affiliate of Kingswood Capital Management for approximately $125 million, subject to adjustments. Kichler Lighting, based in Solon, Ohio, provides decorative residential and light commercial lighting products. The transaction is expected to close by year-end, pending regulatory approvals.

Keith Allman, President and CEO of Masco, stated that Kichler has undergone transformations under Masco's ownership, improving efficiency and innovation. He believes the business has greater growth potential as part of an organization more focused on lighting. Kingswood Capital Management, the buyer, already owns Progress Lighting, another decorative lighting solutions provider.

Masco (NYSE: MAS), a global leader in home improvement and building products, has announced that Rick Westenberg, Vice President, Chief Financial Officer and Treasurer, will participate in a live fireside chat at the Jefferies Industrial Conference in New York City on Thursday, September 5, at 8:05 a.m. ET.

The presentation will be webcast live on Masco's website and available for replay until December 3, 2024. Masco's portfolio includes renowned brands such as Behr® paint, Delta® and hansgrohe® fixtures, Kichler® lighting, Liberty® hardware, and HotSpring® spas. The company leverages these brands across various product categories, sales channels, and geographies to create value for customers and shareholders.

Behr Paint Company has announced its 2025 Color of the Year: Rumors, a deep ruby red that combines warmth and vitality. This choice reflects a growing trend among Americans to embrace bold colors, with 75% considering painting a room or wall red. Erika Woelfel, VP of Color and Creative Services, notes that Rumors offers a modern take on timeless red, creating an energetic appeal.

New research reveals that Americans recognize red's positive impact in home design:

• 86% believe red front doors make homes stand out
• 84% say a small pop of red catches attention
• 70% feel red can make a space more elegant and cohesive
• 60% feel energized by red in home design

Rumors is versatile enough for various applications, from accent walls to full room transformations, appealing to DIYers, designers, and paint professionals alike.

Masco (NYSE: MAS) reported its second quarter 2024 results, showing mixed performance. Net sales decreased 2% to $2,091 million, while operating profit decreased 1% to $397 million. However, the company saw improvements in margins, with operating profit margin increasing 10 basis points to 19.0%. Earnings per share remained relatively stable at $1.17, with adjusted EPS growing 1% to $1.20.

Despite challenging market conditions, Masco demonstrated operational efficiency, maintaining strong adjusted operating profit margins of 19.1%. The company returned $206 million to shareholders through dividends and share repurchases. Looking ahead, Masco updated its 2024 adjusted earnings per share guidance to $4.05 - $4.20, reflecting ongoing demand headwinds but confidence in long-term market fundamentals.