Masco Corporation - MAS STOCK NEWS

Masco Corporation reported a 5% decline in fourth-quarter sales, totaling $1,923 million. Operating profit decreased to $185 million, while adjusted operating profit was $234 million. Earnings per share (EPS) from continuing operations for the quarter was $0.51, with adjusted EPS at $0.65. For 2023, the company expects EPS to range between $3.06 and $3.36. The Board also declared a quarterly dividend of $0.285 per share, marking a 2% increase. Despite operational challenges, Masco aims for long-term growth, emphasizing its robust position in the home improvement market.

Delta Faucet Company has appointed Jill Ehnes as its new president, effective February 1, 2023. She succeeds Ken Roberts, who has been with the company for over 25 years. Ehnes previously held the position of Vice President, Omnichannel Retail and brings over 20 years of experience within the company. Jai Shah, Group President of Masco Corporation, expressed confidence in Ehnes' leadership capabilities to drive growth and customer engagement. Roberts will assist in the transition until the end of March 2023. Delta Faucet is a leader in the design and distribution of faucets and fixtures, focusing on innovative solutions and environmental concerns.

Masco Corporation (NYSE: MAS) has set an aspirational target to reduce its scope 1 and 2 absolute greenhouse gas emissions by 50% by 2030 compared to 2020 levels. This initiative aligns with science-based targets to address climate change. CEO Keith Allman emphasized the company's commitment to sustainability through energy efficiency, renewable energy usage, and waste reduction. Masco aims to not only improve its environmental impact but also enhance the well-being of its workforce and communities. For more information on its sustainability efforts, visit masco.com/sustainability/.

Masco Corporation (NYSE: MAS) has announced a conference call scheduled for February 9, 2023, at 8:00 a.m. ET, to discuss its 2022 fourth quarter and full-year results. The call will be led by President and CEO Keith Allman. Results and supplemental materials will be made available at 7:00 a.m. ET the same day on the company's website. Interested participants can register via phone, while a replay will be available post-call. Masco is a leader in home improvement products, including brands like Behr and Delta.

Behr Paint Company, in collaboration with Operation Homefront, is set to transform the Green family's home with a makeover featuring three key colors: Tranquil Gray, Even Better Beige, and Blank Canvas, the 2023 Color of the Year. This initiative, revealed on The Jennifer Hudson Show, aims to support military families. Designers Nate Berkus and Jeremiah Brent are handling the makeover, focusing on the living room and children's playroom. This project symbolizes Behr's commitment to community support and highlights the significance of its color palette in enhancing home environments.

Valero Energy Corporation (NYSE: VLO) has announced the appointment of Marie A. Ffolkes as an independent director on its board, effective immediately. Ffolkes, founder and CEO of Axxelist LLC, has extensive experience in various sectors including industrial gas production. Her past roles include CEO of TriMark USA and President of Industrial Gases, Americas at Air Products & Chemicals. This addition aims to bring a global operational perspective to Valero's board. Ffolkes also serves on the board of Masco Corporation (NYSE: MAS).

Masco Corporation reported its third quarter 2022 results, highlighting net sales of $2,204 million, unchanged from the prior year, but reflecting a 3% increase in local currency. Operating profit fell 9% to $351 million, with an operating margin of 15.9%. Earnings per share rose 9% to $0.97, while adjusted EPS dipped 1% to $0.98. Anticipating lower market demand and rising costs, adjusted EPS guidance was revised to $3.70 - $3.80. The Board authorized a $2.0 billion share repurchase program and declared a quarterly dividend of $0.28 per share.

Masco Corporation (NYSE: MAS) will hold a conference call on October 26, 2022 at 8:00 a.m. ET to discuss its third quarter results. Interested participants should register prior to the call at (844) 200-6205 within the U.S. or (929) 526-1599 internationally. The results will be available at 7:00 a.m. ET on the same day on their website. A replay will be accessible shortly after the call until November 25, 2022, with specific access codes provided for participants.

Behr Paint Company has unveiled its 2023 Color of the Year, Blank Canvas (DC-003), a warm white designed to evoke tranquility and creativity. Nearly all U.S. homeowners (92%) want their homes to offer an escape from stress, with 77% believing the color white fosters positivity. The paint, featured in Behr's new Designer Collection, aims to inspire calm and is versatile for various design styles. A national sweepstakes offers a grand prize of $10,000 for creating a soothing space, while Blank Canvas is available across Behr's popular paint lines at The Home Depot.