Masco Corporation - MAS STOCK NEWS

Masco Corporation (NYSE: MAS) reported its first quarter results for 2023, revealing a 10% decrease in net sales to $1,979 million compared to the previous year. In local currency, North American sales also fell by 10%, while international sales dropped by 3%. Despite the sales decline, gross margin increased by 180 basis points to 33.8%. Operating profit stood at $315 million, with adjusted operating profit at $312 million. Earnings per share decreased to $0.90, versus $0.97 in Q1 2022. The company continues to project adjusted earnings per share for the year in the range of $3.10 to $3.40. Additionally, Masco appointed David Chaika as interim CFO effective June 1, 2023, to replace John G. Sznewajs.

Kichler Lighting LLC, based in Solon, Ohio, has launched two new interior decorative collections, the New Modern Collection and Ceiling Space Collection, on April 21, 2023. The New Modern Collection consists of 11 families of fixtures that blend edgy designs with soft curves, offering oversized and decorative options for various ceiling styles. The Ceiling Space Collection features 10 families of designs inspired by modern trends and geometric shapes. Both collections are available in multiple finishes, enhancing design versatility for homeowners and professionals alike. Kichler Lighting, part of Masco Corporation (NYSE: MAS), aims to innovate and transform spaces with stylish and efficient lighting solutions.

Behr Paint Company has launched its inaugural Exterior Wood Stain Color of the Year, Cordovan Brown, a versatile and timeless hue aimed at enhancing outdoor spaces. This deep, rich color complements various architectural styles and pairs well with Behr's 2023 Paint Color of the Year, Blank Canvas. Available exclusively at The Home Depot, Cordovan Brown is featured across multiple BEHR® products. Jodi Allen, Behr's Global Chief Marketing Officer, highlighted the focus on simplifying color selection for consumers. The company's long-standing tradition of innovation and quality positions it favorably in the market, backed by its parent company, Masco Corporation.

Masco Corporation (NYSE: MAS) will hold a conference call on April 26, 2023, at 8:00 a.m. ET to discuss its 2023 first quarter results. The results will be available at 7:00 a.m. ET on the same day. Interested participants can register by calling 888-259-6580 (or 416-764-8624 from outside the U.S.). The call will be accessible via the Masco website, with a replay option available shortly after the call ends. The company, headquartered in Livonia, Michigan, specializes in branded home improvement and building products, including Behr® paint and Delta® faucets.

Behr Paint Company launched a new program, 'Women in Paint', on International Women's Day 2023, in collaboration with the Painting Contractors Association (PCA). The initiative aims to enhance the visibility of women in the painting industry, where they currently represent only 10% of the workforce. This program will showcase the achievements of four professional women painters and provide educational resources through training events. Behr's Global Chief Marketing Officer, Jodi Allen, emphasized the importance of supporting women tradespeople to encourage future generations.

Masco Corporation (NYSE: MAS), a leading manufacturer of home improvement and building products, has announced key leadership appointments. Jai Shah has been named Group President-Plumbing Products, succeeding the retiring Richard O’Reagan. Shah, a Masco veteran since 2003, previously served as Group President-Decorative Architectural Products. Imran Ahmad, formerly President of Masco Canada, is promoted to Group President-Decorative Architectural Products. Both Shah and Ahmad are recognized for their significant contributions and strategic leadership within the company, indicating a strong management focus on growth and innovation in the industry.

Masco Corporation (NYSE: MAS) announced that CFO John Sznewajs will present at the Raymond James 44th Annual Institutional Investors Conference in Orlando, Florida, on March 7 at 8:05 a.m. ET. The presentation will be available via live webcast on Masco's Investor Relations website, with a replay accessible until May 30, 2023. Headquartered in Livonia, Michigan, Masco is a global leader in the design, manufacture, and distribution of branded home improvement products. The company’s portfolio includes well-known brands like Behr®, Delta®, and Kichler®.