Masco reports increase in Q2 sales
Masco posted a strong second quarter, reporting a sales increase of 10% to $2.1 billion, compared with $1.9 billion in the second quarter of 2012. North American sales increased 11%.
Income from continuing operations was $0.23 per common share compared with a loss of $0.15 per common share in the second quarter of 2012.
“All operating segments contributed to both top and bottom line growth, accelerated by the strength of new home construction in North America and the successful execution of new product and program introductions at retail,” according to the company.
“We are very pleased with our second-quarter 2013 results, certainly one of the strongest quarters since the downturn and a continuation of the momentum which started for us in the fourth quarter of 2012,” said Masco’s president and CEO, Tim Wadhams. “Top- and bottom-line growth was delivered by each of our segments in the second quarter against a backdrop of continued growth in North American new home construction and new product introductions.”
Survey: Practicality rules the day when it comes to outdoor DIY trends
The Home Projects Council, a recently formed panel of 10 home improvement experts, surveyed more than 1,200 homeowners planning home improvement projects in 2013. The findings: Functional utility rules the day when it comes to outdoor DIY projects.
Specifically, 57% of respondents reported that functional value was their most important consideration, compared with 28.3% who valued aesthetics and 14.7% who weighed price above all.
Green thumbs also had their moment when it came to "most desirable projects," with 49.1% favoring "plant a garden." The overwhelming majority (71.4%) were "very likely" to try this themselves.
Comparitively, projects respondents considered too difficult to do themselves included "build an outdoor kitchen;" "install a garden pond;" "pour concrete slabs for patios, steps or sidewalks;" and "resurface concrete driveway, sidewalk or patio."
Of the sample surveyed, 80% had household incomes from $50,000 to $250,000, with 36.6% claiming beginner-level skills, 54.8% considering themselves intermediate and 8.6% touting an expert level of skill.
Beazer’s results ramp up in Q3
Beazer Homes has reported a sunny outlook for the third quarter and nine months ended June 30, paving the way for sustained profitability. Higher margins and increased sales pointed to significant progress on its Path-to-Profitability strategies.
The company’s net loss for the third quarter totaled $5.79 million, compared with $39.88 million in the prior-year quarter. Total revenue rose 24% to $314.44 million from $254.56 million in the prior-year period. Home-building revenue rose 24% from the year-ago third quarter to $313.13 million.
“We were pleased with the continued improvement in both our key operational metrics and our financial results for the third quarter,” said CEO Allan Merrill. “With improved home-building gross margins, higher average sales prices and strict control over operating expenses, we are poised to report positive net income in our fiscal fourth quarter and expect to report our first full year of profitability in nearly a decade for fiscal 2014.”
Adjusted EBITDA was $21.8 million, a major uptick from last year’s $4.0 million.
Meanwhile, orders were a slightly mixed bag, with year-to-date figures up over 2012 and overall third-quarter numbers down on a year-over-year basis.