Cancel OK

Masco Corporation Reports Second Quarter 2022 Results

General News
Masco Corporation Logo - Cabinet Manufacturer

Masco Corporation (“Masco”), one of the world’s leading manufacturers of branded home improvement and building products, reported its second quarter results.

2022 Second Quarter Results

  • On a reported basis, compared to second quarter 2021:
    • Net sales increased 8 percent to $2,352 million; in local currency and excluding acquisitions and divestitures, net sales increased 11 percent
    • North American sales increased 11 percent and international sales decreased 3 percent; in local currency, North American sales increased 11 percent and international sales increased 8 percent
    • Gross margin decreased 360 basis points to 32.7 percent from 36.3 percent
    • Operating profit decreased 7 percent to $408 million
    • Operating margin decreased 280 basis points to 17.3 percent from 20.1 percent
    • Net income (loss) increased to $1.18 per share, compared to $(0.14) per share
  • Compared to second quarter 2021, results for key financial measures, as adjusted for certain items (see Exhibit A) and with a normalized tax rate of 25 percent, were as follows:
    • Gross margin decreased 330 basis points to 33.0 percent compared to 36.3 percent
    • Operating profit decreased 5 percent to $414 million from $438 million
    • Operating margin decreased 250 basis points to 17.6 percent compared to 20.1 percent
    • Net income matched prior year at $1.14 per share
  • Liquidity as of June 30, 2022 was $1,440 million (including availability under our revolving credit facility)
  • Plumbing Products’ net sales increased 3 percent; in local currency and excluding acquisitions and divestitures, sales increased 8 percent
  • Decorative Architectural Products’ net sales increased 15 percent; in local currency, sales increased 16 percent

“In this challenging environment, I am proud of the results our team has achieved in the first half of 2022,” said Masco President and CEO, Keith Allman. “We delivered another strong quarter with sales growth of 8 percent and continued to execute our capital deployment strategy by returning $614 million to shareholders through dividends and share repurchases during the quarter.”

“As we enter the second half of the year, we expect growth to be more modest than the first half and largely driven by pricing actions,” continued Allman. “We continue to position ourselves for profitable growth while mitigating the impacts of the challenging supply chain environment. Given moderating demand and additional foreign currency headwinds, we are narrowing our previous guidance and now anticipate our adjusted earnings per share for 2022 to be in the range of $4.15 to $4.25 per share, a 14 percent increase compared to 2021 at the midpoint, from our previous expectation of $4.15 to $4.35 per share,” concluded Allman.

Dividend Declaration

Masco’s Board of Directors declared a quarterly dividend of $0.28 per share payable on August 29, 2022 to shareholders of record on August 12, 2022.

For the full second quarter results, click here.

About Masco

Headquartered in Livonia, Michigan, Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Our portfolio of industry-leading brands includes Behr® paint; Delta® and Hansgrohe® faucets, bath and shower fixtures; Kichler® decorative and outdoor lighting; and HotSpring® spas. We leverage our powerful brands across product categories, sales channels and geographies to create value for our customers and shareholders. For more information about Masco Corporation, visit


David Chaika – Vice President, Treasurer & Investor Relations – – (313) 792-5500

Source: Masco Corporation