Masco reports Q2 sales increase

Taylor, Michigan-based Masco announced that adjusted operating profit grew by 21% in its second quarter.

Net sales from continuing operations rose 5% to $2.3 billion, up from $2.1 billion for the second quarter of 2013.  North American sales increased 4%, and international sales increased 9% in U.S. dollars.

Plumbing products` net sales increased 6%, decorative architectural products` net sales increased 5%, cabinets and related products` net sales decreased 5%, installation and other services` net sales increased 8%, and other specialty products` net sales increased 11%.

"We delivered a solid second quarter marked by revenue growth and strong profitability," said Masco president and CEO, Keith Allman. "Our focus on our key priorities, which include growing share of our market-leading brands, accelerating our customer-focused innovation pipeline, further penetrating international markets and driving operational leverage through cost containment, was demonstrated in our performance despite a more moderate housing recovery. 

"As we move into the third quarter, we continue to see growing demand for our products and services across our end markets. Our outlook remains positive with the belief that new home construction and repair and remodel activity will show steady growth in 2014,” he added. We believe we are well positioned to grow our key brands and to gain market share in this environment.

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