Sales increased 25 percent to $1,970 million; in local currency, sales increased 22 percent
Operating profit increased 62 percent to $365 million; adjusted operating profit increased 61 percent to $366 million
Operating margin increased 430 basis points to 18.5 percent; adjusted operating margin increased 420 basis points to 18.6 percent
Earnings per share from continuing operations decreased 29 percent to $0.34 per share; adjusted earnings per share from continuing operations increased 89 percent to $0.89 per share
Repurchased 5.5 million shares for $303 million
Anticipate 2021 earnings per share in the range of $1.52 - $1.72, and on an adjusted basis, in the range of $3.50 - $3.70, an increase from previously announced expectation of $3.25 - $3.45.
Masco Corporation (NYSE: MAS), one of the world’s leading manufacturers of branded home improvement and building products, reported its first quarter results.
Masco Corp (MAS) Q1 2021 Earnings Call Transcript
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Is Masco Corporation (MAS) A Smart Long-Term Buy?
Fiduciary Management Inc., an investment management firm, published its first quarter 2021 investor letter – a copy of which can be downloaded here. A return of 7.6% was reported by the FMI All Cap portfolios for the Q1 of 2021, outperforming both its Russell 3000 benchmark that delivered a 6.35% return, and the Russell 3000 Value Index that had an 11.89% gain in the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Fiduciary Management Inc., in their Q1 2021 investor letter, mentioned Masco Corporation (NYSE: MAS) and shared their insights on the company. Masco Corporation is a Livonia, Michigan-based manufacturing company that currently has a $15.8 billion market capitalization. Since the beginning of the year, MAS delivered a 13.74% return, extending its 12-month gains to 59.84%. As of April 14, 2021, the stock closed at $62.48 per share.
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With the U.S seemingly shrugging off the anything but housing mindset that inevitably kicked in after the great financial crisis over a decade ago and housing starts now back in growth mode, it s time to look at some companies that can benefit from a housing boom. I think plumbing and architectural products company
Masco launches $50M venture fund subsidiary
Dustin Walsh
Schostak Brother & Co.
Home improvement products manufacturer Masco Corp. announced Feb. 16 the creation of $50 million venture capital fund.
Masco Ventures, a subsidiary of the publicly traded Masco, will invest in future technologies in its sector, including products and services that improve water management, create a connected home, enhance customer service and find ways improve customer relationships, the company said in a new release.
Several local companies have created venture funds in recent years, including GM Ventures and Lear Ventures, to allow them to fund innovative startups without acquiring and incorporating them into the fold of the larger organization.
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