Masco Corp. (MAS) Tops Q1 EPS by 7c; Raises Outlook

Masco Corp. (NYSE: MAS) reported Q1 EPS of $0.43, $0.07 better than the analyst estimate of $0.36. Revenue for the quarter came in at $1.8 billion versus the consensus estimate of $1.75 billion.

• Sales for the first quarter increased 3 percent to $1.8 billion; in local currencies, sales increased 5 percent
• Operating profit for the quarter grew 8 percent to $253 million; adjusted operating profit grew 8 percent to $255 million
• Operating profit margin for the quarter increased to 14.2 percent, a 60 basis point expansion; adjusted operating profit margin increased to 14.4 percent, a 60 basis point expansion
• Earnings per share for the quarter grew 34 percent to $0.43 per common share; adjusted earnings per share grew 28 percent to $0.41 per common share, which includes a $0.01 benefit due to a lower normalized tax rate
• Earnings per share target of $1.80 for 2017 updated to the range of $1.90 to $2.00 per common share, which includes an estimated $0.06 benefit from a reduction in our expected tax rate

GUIDANCE:

Masco Corp. sees FY2017 EPS of $1.90-$2.00, versus the consensus of $1.87.

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

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