Masco Corp. (MAS) Tops Q1 EPS by 22c; Raises Outlook

Masco Corp. (NYSE: MAS) reported Q1 EPS of $0.89, $0.22 better than the analyst estimate of $0.67. Revenue for the quarter came in at $1.97 billion versus the consensus estimate of $1.83 billion.

GUIDANCE:

Masco Corp. sees FY2021 EPS of $3.50-$3.70, versus prior of $3.25-$3.45 and the consensus of $3.37.

“We achieved another outstanding quarter,” said Masco President and CEO, Keith Allman. “We capitalized on the continued strong demand for our products to deliver exceptional sales growth, margin expansion and an 89 percent increase in adjusted earnings per share. We also continued our capital deployment of our strong free cash flow by returning $339 million to shareholders through dividends and share repurchases during the quarter. Finally, we further strengthened our balance sheet and reduced interest expense through the successful refinancing of our 2022, 2025 and 2026 debt maturities.”

For earnings history and earnings-related data on Masco Corp. (MAS) click here.

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