Masco sales flat in Q3

Masco reported third quarter sales of $2.204 billion, which broke even with third quarter sales in 2021.

North American sales increased 2% and international sales decreased 9%.

Plumbing product sales were also flat compared to the prior year third quarter while decorative architectural product net sales increased just 1%.

The Livonia, Mich.-based home improvement products manufacturer also posted a net income of $218 million, slipping 0.9% from a net income of $220 million in the third quarter last year.

“During the third quarter, our pricing actions helped mitigate the impact of volume declines and persistent supply chain challenges,” said Masco President and CEO, Keith Allman. “As a result, we delivered modest sales growth of three percent in local currency.”

“As market conditions continue to evolve, we now anticipate lower market demand, elevated operational costs, and additional foreign currency headwinds in the fourth quarter,” continued Allman.

The full third quarter 2022 financial report Masco is available here.

Masco’s product portfolio includes Behr paint; Delta and Hansgrohe faucets, bath and shower fixtures; Kichler decorative and outdoor lighting; and HotSpring spas.