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03/01/2018

Masco posts strong Q4

Masco, the home improvement products giant, reported fourth quarter 2017 sales increased more than 6% to $1.87 billion from 2016 fourth quarter sales of $1.76 billion.


For the fourth quarter the Livonia, Mich.-based manufacturer and supplier also reported a net income of $137 million – up more than 30% from a net income of $105 million in the fourth quarter a year ago.


Full-year 2017 sales increased nearly 4% to $7.64 billion from full-year sales of $7.36 billion in 2016. The company reported a full-year net of $618 million, a 24% increase from a 2016 net income of $498 million.


Within Masco’s product segments plumbing product sales rose 9% for the quarter, decorative architectural product sales increased 12%, cabinetry products fell 5% during the period, and windows and specialty products dropped 3%.


“We finished 2017 with a great fourth quarter,” said Keith Allman, Masco president and CEO. “Our plumbing products and decorative architectural products segments delivered strong top- and bottom-line growth. Additionally, we closed on the acquisition of Mercury Plastics, Inc. in our Plumbing Products segment, and reached an agreement to acquire The L.D. Kichler Co.”


Masco’s portfolio of brands include Behr paint, Delta and Hansgrohe faucets and fixtures, KraftMaid and Merillat cabinets, Milgard windows and doors, and Hot Spring spas.