Sales and profits climb at Masonite

Masonite reported that sales for the second quarter increased 15% to $762 million from second quarter 2021 sales of $662 million.

North American Residential net sales were $608 million, rising 23% compared to the second quarter of 2021. The Tampa, Fla.-based door manufacturer said North American sales were driven by a 21% increase in AUP and a 3% increase in volume.

Sales in Europe declined 16% to $74 million including a 16% decrease in volume. The decline was partially offset by a 16% increase in AUP, Masonite said. Architectural sale slipped 1% to $75 million including volume falling 13%.

The manufacturer also posted a net income attributable to Masonite of $59 million for the second quarter, shooting up 67% from a net income of $35 million in the prior second quarter.

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The Bottom Line: Profits at Masonite ascend 67% to $59 million as sales climb 15% to $762 million.

What the CEO said: “Masonite delivered another solid quarter of year-over-year net sales and Adjusted EBITDA* growth driven by steady demand and strong execution in our North American Residential segment,” said Howard Heckes, President and CEO. “We have started shipments from two new door production facilities, in line with our strategy to deliver consistent and reliable supply. We also introduced new products and marketing initiatives aimed at supporting further growth and favorable mix.”

Company info: Click here to read the full second quarter 2022 financial report from Masonite.