Masco Corporation - MAS STOCK NEWS

Masco Corporation (NYSE: MAS) announced that CFO John Sznewajs will present at the RBC Capital Markets Global Industrials Conference on September 9, 2021, at 8:00 a.m. ET. The presentation will be available for live streaming on the Investor Relations section of the company’s website. A replay will be accessible until September 23, 2021. Masco, headquartered in Livonia, Michigan, is a global leader in home improvement and building products, offering brands like Behr®, Delta®, and HotSpring®.

Behr Paint and Zillow have collaborated to launch a curated palette of interior paint colors aimed at enhancing home value. Findings from a Zillow-commissioned study indicate that specific shades can increase a buyer's offer by nearly $5,000. The palette features 12 colors, blending light neutrals and various blues, each associated with potential value increases in different rooms. For instance, light blue bathrooms could add 1.6% to offers. The colors are now available at The Home Depot.

Masco Corporation (NYSE: MAS) reported strong second-quarter results, achieving a 24% increase in net sales to $2,179 million, with adjusted earnings per share rising to $1.14, compared to $0.85 last year. The company experienced four consecutive quarters of double-digit sales growth and margin expansion. Despite a 53% sales increase in Plumbing Products, Decorative Architectural Products saw a 5% decline. Masco returned $507 million to shareholders via dividends and buybacks. They anticipate a revised earnings target between $3.65 and $3.75 per share for the fiscal year.

KILZ® has launched the KILZ® Pro Van Contest, offering professional painters a chance to win a 2020 Ford® Transit 350 Cargo Van valued at $110,000, equipped with a range of top-quality painting tools. This initiative reflects KILZ's commitment to supporting the painting community and enhancing business capabilities. The contest runs from July 12 to October 12, 2021, inviting entrants to showcase their professional skills. In addition to transportation, the van includes equipment from leading brands, reinforcing KILZ’s dedication to the trade industry.

Masco Corporation (NYSE: MAS) will hold a conference call on July 29, 2021, at 8:00 a.m. ET to discuss its second quarter results. The call will be hosted by President and CEO Keith Allman. Participants are encouraged to register 5-10 minutes early. Results and supplemental materials will be available at 7:00 a.m. ET on the same day, both on the company's website and during the call. A replay will be available shortly after the call concludes, lasting until August 29, 2021. For more information, visit www.masco.com.

Masco Corporation (NYSE: MAS) has announced an accelerated share repurchase (ASR) agreement worth $350 million with the Royal Bank of Canada to buy back its common stock. This buyback is part of a larger $2 billion share repurchase program initiated on February 9, 2021. Masco will receive approximately 5.1 million shares on June 10, 2021, equating to about 85% of the initial shares based on a closing price of $58.41. The final repurchased share count will depend on the company's volume-weighted average price during the agreement period and is expected to conclude by July 29, 2021.

Masco Corporation (NYSE: MAS) has declared a quarterly dividend of $0.235 per common share, scheduled for payment on June 14, 2021. Shareholders of record as of May 28, 2021 will receive this dividend. Masco is a leader in home improvement and building products, boasting brands like Behr® paint and Delta® faucets. The company aims to leverage its diverse portfolio to create value for customers and shareholders. For further details, visit www.masco.com.

Masco Corporation (NYSE: MAS) announced that CFO John Sznewajs will present at J.P. Morgan’s 14th Annual Homebuilding and Building Products Conference on May 20 at 1:15 p.m. ET. The presentation will be webcast live on Masco’s investor relations website, with a replay available until June 20, 2021. Masco is a global leader in home improvement and building products, featuring esteemed brands like Behr®, Delta®, and HotSpring®. The company aims to leverage its strong brand portfolio across various product categories to create shareholder value.

Masco Corporation (NYSE: MAS) reported a strong first quarter in 2021, achieving a 25% increase in net sales to $1,970 million and an 89% rise in adjusted earnings per share. North American and international sales rose 21% and 27%, respectively. Gross margins increased to 35.5%, while operating profit surged 62% to $365 million. The company returned $339 million to shareholders through dividends and buybacks, while also refinancing debts to reduce interest expenses. Masco raised its earnings per share forecast for 2021 to $3.50-$3.70.