MasterBrand, Inc. (NYSE: MBC) reported Q1 EPS of $0.28, $0.16 better than the analyst estimate of $0.12. Revenue for the quarter came in at $676.7 million versus the consensus estimate of $629 million.

For full year 2023, the Company expects:

Net sales year-over-year decline of mid teens, based on market declines of low teens
Adjusted EBITDA* in the range of $315 million to $345 million, with related adjusted EBITDA* margins of roughly 11.5 to 12.5 percent

The Company is increasing the midpoint of full-year adjusted EBITDA* outlook by $10 million following stronger than expected performance in the first quarter of 2023. Net sales outlook remains unchanged for the full year as the Company continues to expect softer end markets in 2023.

For earnings history and earnings-related data on MasterBrand, Inc. (MBC) click here.