Masonite Int'l (DOOR) Tops Q1 EPS by 62c; Withdraws Guidance

Masonite Int'l (NYSE: DOOR) reported Q1 EPS of $1.24, $0.62 better than the analyst estimate of $0.62. Revenue for the quarter came in at $551 million versus the consensus estimate of $521.64 million.

“Masonite kicked off 2020 building strong momentum. Our North American Residential pricing strategy was successfully implemented, and our global operations were performing well, resulting in strong first quarter results despite modest headwinds from COVID-19 beginning in March,\" said Howard Heckes, President and Chief Executive Officer. “As this situation evolved into a global pandemic, we took swift and decisive action to protect the health and welfare of our employees while maintaining business continuity to support essential services. We are focused on maintaining financial stability, afforded by the strength of our balance sheet and liquidity. These are truly unprecedented times and we believe these actions will help us navigate near-term uncertainty and position us for further success once our end markets stabilize and recover.”

GUIDANCE:

The Company is withdrawing its 2020 Outlook provided on February 18, 2020 due to continued uncertainty around the impact of COVID-19 on global economies and the end markets it serves.

For earnings history and earnings-related data on Masonite Int'l (DOOR) click here.

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