MasterBrand, Inc. - MBC STOCK NEWS

MasterBrand, the largest residential cabinet manufacturer in North America, will present at Baird’s Global Industrial Conference in Chicago on November 12, 2024. The presentation by Dave Banyard, President and CEO, and Andi Simon, EVP and CFO, is scheduled for 1:45pm Central Time. The event will be webcast live on the Investors section of the Company’s website, www.masterbrand.com, with a replay available for a time. Additionally, the Company will conduct investor meetings throughout the conference.

MasterBrand (NYSE: MBC) reported Q3 2024 financial results with net sales increasing 6.0% to $718.1 million, primarily driven by 9% growth from the Supreme acquisition. Net income decreased 51.3% to $29.1 million compared to $59.7 million in Q3 2023. Adjusted EBITDA margin decreased 160 basis points to 14.6%, while diluted EPS fell to $0.22 from $0.46. The company maintains its 2024 outlook, expecting low single-digit percentage net sales growth and adjusted EBITDA between $385-405 million.

MasterBrand, Inc. (NYSE: MBC), North America's largest residential cabinet manufacturer, has announced its plans to release third quarter 2024 financial results on Tuesday, November 5, 2024, after market close. The company will host a live conference call and webcast at 4:30 p.m. ET on the same day to discuss the results and business outlook.

Interested parties can access the call via telephone at (877) 407-4019 (U.S.) or (201) 689-8337 (international). A live audio webcast will be available on the 'Investors' section of MasterBrand's website. For those unable to attend, a telephone replay will be accessible until November 19, 2024, by dialing 877-660-6853 (U.S.) or 201-612-7415 (international) with passcode 13749429. An archived webcast will also be available on the company's website.

MasterBrand, Inc. (NYSE: MBC), North America's largest residential cabinet manufacturer, has rescheduled its second quarter 2024 earnings conference call due to severe weather in Cleveland. The call is now set for 5:30 p.m. ET on August 6, 2024, one hour later than originally planned. Investors can access the live call via phone at (877) 407-4019 (U.S.) or (201) 689-8337 (international), or through a webcast on the company's website. A replay will be available until August 20, 2024, by dialing 877-660-6853 (U.S.) or 201-612-7415 (international) with passcode 13747550. An archived webcast will also be accessible on MasterBrand's website.

MasterBrand (NYSE: MBC), North America's largest residential cabinet manufacturer, reported Q2 2024 financial results. Net sales decreased 2.7% year-over-year to $676.5 million, while net income fell 11.5% to $45.3 million. Despite lower sales, the company saw adjusted EBITDA margin expand 20 basis points to 15.5%. MasterBrand closed the acquisition of Supreme Cabinetry Brands for $520 million, expecting $28 million in annual cost synergies by year three. The company increased its 2024 outlook, projecting low single-digit percentage net sales growth and adjusted EBITDA between $385-$405 million. Free cash flow for the first half of 2024 was $77.8 million.

MasterBrand, Inc. (NYSE: MBC), North America's largest residential cabinet manufacturer, has released its annual Corporate Sustainability and Responsibility (CSR) Report. The report highlights the company's progress in sustainability, resource stewardship, associate well-being, and corporate governance.

Key accomplishments in 2023 include:

• Conducting baseline water consumption assessments in manufacturing plants
• Achieving 90%+ landfill avoidance rates at five facilities
• Improving OSHA recordable rate to below 1, 74% better than industry average
• Adding two new Board members to enhance diversity and expertise
• Creating a Policy Review Committee for compliance program development

CEO Dave Banyard emphasized MasterBrand's commitment to high standards and continuous improvement in corporate responsibility.

MasterBrand, through its subsidiary MasterBrand Cabinets, completed a $520 million acquisition of Supreme Cabinetry Brands from GHK Capital Partners. This strategic move enhances MasterBrand's portfolio in premium cabinetry, aiming to offer a broader range of products and improved service. The acquisition is expected to generate $28 million in annual cost synergies by the end of year three through procurement, facility optimization, and overhead expense savings. Additionally, it is anticipated to be accretive to adjusted diluted earnings per share within the first full year post-closing. MasterBrand plans to leverage commercial synergies across complementary channels and product lines.

MasterBrand, the largest residential cabinet manufacturer in North America, will release its second quarter 2024 financial results on August 6, 2024, after market close. A live conference call and webcast will follow at 4:30 p.m. ET to discuss the results and business outlook. Investors can join the call via telephone or access the live webcast through MasterBrand's website. Replay options will be available until August 20, 2024, for those unable to attend the live event.

MasterBrand, the largest residential cabinet manufacturer in North America, has launched the MasterBrand Dealer Designer Council. Comprising nine industry experts, this council aims to offer insights into consumer trends and buying habits while fostering a community for dealer designers. Dave Banyard, MasterBrand's President and CEO, highlighted the company's commitment to enhancing customer experience through collaboration. The inaugural meeting held in Nashville focused on idea-sharing and best practices, with future meetings planned throughout the year. Marty Van Doren, Executive VP and Chief Commercial Officer, emphasized the council's role in providing real-time feedback on customer experiences and industry trends. For more details, visit MasterBrand's Dealer Designer Council webpage.