Masco’s outlook improves
Home improvement product giant Masco reported that a rebound in sales have lifted its outlook for the second quarter.
The company had previously offered guidance of sales declines ranging from 15% to 20% for the quarter. The new guidance, released Tuesday, expects sales to decline about 8%.
The company’s many home improvement brands include include Delta faucets, Behr paints, BrassCraft and Master Plumber.
Second quarter sales in the company’s plumbing products segment are expected to be down approximately 19% excluding currency. In the Decorative Architectural Products segment, sales are expected to increase approximately 6%.
With the anticipated increased sales, Masco expects decremental margins in the second quarter to be stronger than the previously announced range of 35-40%.