Masco sales jump in Q2

Home improvement and building products manufacturer Masco reported second quarter sales increased 24% to $2.18 billion from second quarter 2020 sales of $1.76 billion.

Sales in North America climbed 15% as international sales jumped 50%, the Livonia, Mich.-based company said.

Plumbing product net sales increased 53% while Masco’s decorative architectural products’ net sales fell by 5%.

Masco also posted an income from continuing operations of $290 million, rising 29.4% from a net income of $224 million for the same period last year.

The company’s portfolio of brands includes Behr paint; Delta and Hansgrohe faucets, bath and shower fixtures; Kichler decorative and outdoor lighting; and HotSpring spas. 

###

The Bottom Line: Masco’s income from continuing operations rises more than 29% to $224 million as sales jump 24% to $2.18 billion in the second quarter.

What the CEO said: “Our business performed exceptionally well during the second quarter, demonstrating the strength, diversification and resilience of our business,” said Masco President and CEO, Keith Allman. “We delivered our fourth consecutive quarter of double-digit sales growth, and our sixth consecutive quarter of adjusted margin expansion and double-digit adjusted earnings per share growth.”

Company info: The full second quarter 2021 financial report from Masco is available here.