Masco delivers solid Q4 results
Home improvement manufacturing titan sees sales and earnings rise in Q4.
Masco, the home improvement products manufacturing giant, reported net sales for the fourth quarter 2018 increased 11% to $2 billion from net sales of $1.85 billion in the fourth quarter 2017.
For the full year, Masco net sales rose more than 9% to $8.36 billion from 2017 net sales of $7.64 billion.
The Livonia, Mich.-based company posted a net income of $208 million for the quarter, soaring from a net income of $92 million for the same period a year ago. Masco reported a net income of $784 million for 2018, up 47% from a net income of $580 million in 2017.
Plumbing Products’ net sales increased 4% during the fourth quarter while Decorative Architectural Products’ net sales increased 30%.
Cabinetry Products’ net sales increased 1% as windows and other specialty products’ sales fell 1%, Masco said.
“We delivered strong sales and profit growth in the fourth quarter of 2018, despite an increasingly challenging environment,” said Keith Allman, Masco’s President and CEO. “This growth was led by our Plumbing and Decorative Architectural Products segments.”
Masco’s product portfolio includes Behr paint; Delta and Hansgrohe faucets, bath and shower fixtures; KraftMaid and Merillat cabinets; Milgard windows and doors; Kichler decorative and outdoor lighting; and HotSpring spas.
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