Masonite sales jump in Q2

Masonite reported that second quarter sales surged 33% to $662 million from sales of $500 million in the second quarter 2020.

North American residential sales were $493 million, a 29% increase compared to the second quarter of 2020, driven by a 19% increase in base volume, a 7% increase in average unit price and a combined 3% increase due to favorable foreign exchange and the sale of components and other products.

European sales jumped 194% to $88 million while architectural sales rose 11% to $76 million.

The Tampa, Fla.-based interior and exterior door manufacturer also posted a second quarter net income of $35 million, rising 3% from a net income of $34 million for the same period a year ago.

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The Bottom Line: Masonite profits move up 3% to $35 million as sales increase 33% to $662 million.

What the CEO said: “Robust demand in our residential end markets and solid execution allowed us to achieve strong Net Sales and Adjusted EBITDA growth despite strengthening inflation headwinds in the quarter,” said Howard Heckes, president and CEO of Masonite. “I am extremely proud of this organization’s ability to navigate what was an increasingly difficult backdrop with respect to our supply chain and labor availability.”

Company info: Click here to read Masonite’s full second quarter 2021 financial report.