Masco Corporation - MAS STOCK NEWS

Masco Corporation (NYSE: MAS) announced that President and CEO Keith Allman will participate in a fireside chat at the Goldman Sachs 29th Annual Global Retailing Conference in New York on Wednesday, September 7, at 3:15 p.m. ET. The event will be webcast live on the Investor Relations section of Masco's website, with a replay available until December 7, 2022. Headquartered in Livonia, Michigan, Masco is a global leader in the home improvement and building products industry, offering well-known brands such as Behr, Delta, and Kichler.

BEHR and KILZ brands collaborated with celebrity designer Leanne Ford to restore a historic 120-year-old home in Pittsburgh. Ford emphasized maintaining the home's original beauty while utilizing BEHR® MARQUEE® Exterior Paint and KILZ 3® Premium Primer for the renovation. The exterior restoration highlights architectural details designed by Charles Barton Keen. BEHR's VP, Andy Lopez, praised the performance of KILZ products, noting their reliability in complex restoration projects. The renovation showcases classic colors from BEHR’s designer collection, available at The Home Depot.

Masco Corporation reported an 8% rise in net sales to $2,352 million for Q2 2022, with a notable 11% increase in local currency. Operating profit was $408 million, with an operating margin of 17.3%. Adjusted earnings per share remained steady at $1.14, while liquidity reached $1,440 million. A quarterly dividend of $0.28 per share was announced, payable on August 29, 2022. The company narrowed its adjusted EPS guidance for 2022 to $4.15 - $4.25, citing moderating demand and supply chain challenges.

Masco Corporation (NYSE: MAS) will hold a conference call on July 28, 2022, at 8:00 a.m. ET to discuss its 2022 second quarter results. Attendees need to register in advance by calling (844) 200-6205 (U.S.) or (929) 526-1599 (international) using access code 593826. Results will be available at 7:00 a.m. ET on the same day on the company's website. The conference call will be webcast live, and a replay will be accessible post-call until August 28, 2022.

Behr Paint Company has launched BEHR PREMIUM™ Spray Paint, available in 51 colors including new textured and metallic finishes. This new product features a combined paint and primer formulation for a durable finish, suitable for various surfaces like wood, metal, and plastic. Behr has partnered with Color Influencer Courtney Quinn to showcase the product's versatility. The spray paint is exclusively available at The Home Depot in 26 core colors and 25 specialty options. Customers can participate in a $10,000 DIY transformation contest through BehrSprayitYourWay.com.

Behr Paint Company has launched BEHR® COPPER FORCE™ Interior Paint, an innovative product designed to kill 99.9% of bacteria and viruses, including SARS-CoV-2, within two hours on painted surfaces. Powered by Corning® Guardiant® technology, this paint offers an additional layer of protection for up to six years while enhancing aesthetic appeal. Available in over 2,000 colors at select Home Depot locations, it aims to meet the heightened hygiene standards in homes and facilities like schools and hospitals.

Masco Corporation (NYSE: MAS) has declared a quarterly dividend of $.28 per common share, which will be paid on June 13, 2022. Shareholders must be on record by May 27, 2022 to receive the dividend. Headquartered in Livonia, Michigan, Masco is a leader in home improvement and building products, with recognized brands like Behr paint and Delta faucets. The company focuses on leveraging its brand portfolio across various categories to enhance value for customers and shareholders.

Masco Corporation (NYSE: MAS) has entered into an accelerated share repurchase (ASR) agreement with Wells Fargo Bank to repurchase $500 million of its common stock. This is part of its previously announced $2 billion share repurchase authorization from February 9, 2021. Masco will receive approximately 7.9 million shares initially on May 10, 2022, based on a closing stock price of $53.76. The final number of shares will depend on Masco's volume-weighted average price, with completion expected by July 27, 2022.

Masco Corporation (NYSE: MAS) reported a strong first quarter of 2022 with a 12% increase in net sales, totaling $2,201 million. Adjusted earnings per share rose 7% to $0.95, while net income surged 185% to $0.97. Operating profit experienced a slight decline of 3% to $353 million, with the operating margin at 16.0%. The company returned $431 million to shareholders via dividends and share repurchases. Masco anticipates adjusted earnings per share for 2022 between $4.15 and $4.35, an increase from previous estimates.