MasterBrand, Inc. (NYSE: MBC) reported Q3 EPS of $0.46, $0.14 better than the analyst estimate of $0.32. Revenue for the quarter came in at $677.3 million versus the consensus estimate of $686.6 million.

OUTLOOK

Net sales year-over-year decline of mid teens percentage in the fourth quarter of 2023

Adjusted EBITDA1,2 in the range of $370 million to $380 million, with related adjusted EBITDA margins1,2 of roughly 13.5 to 14.0 percent for the full year 2023

The Company is increasing the midpoint of its full-year adjusted EBITDA1 outlook by $20 million based on stronger than expected performance in the third quarter of 2023. This outlook includes the remaining insurance proceeds received related to the Company’s claim in the second quarter for damages resulting from the impact of a tornado at its Jackson, Georgia production facility. Net sales outlook remains unchanged for the remainder of the year as the Company continues to expect softer end market demand in 2023.

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