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Masco up 5% post Q4 results beat

Feb. 07, 2019 11:31 AM ETMasco Corporation (MAS) StockMASBy: Akanksha Bakshi, SA News Editor
  • Masco (MAS +5.3%) reported Q4 sales growth of 10.3% Y/Y to $2.04B, with North America sales of $1.65B (+14% Y/Y) and International sales of $390M (-3% Y/Y).
  • Plumbing Products sales were $1B (+4% Y/Y); adj. operating margin of 18.4% up by 110 bps; and Adj. EBITDA margin of 20.3% up by 130 bps.
  • Decorative Architectural Products sales were $632M (+30% Y/Y); adj. operating margin of 18.7% up by 170 bps; and adj. EBITDA margin of 20.3% up by 240 bps.
  • Cabinetry Products sales were $226M (+1% Y/Y); adj. operating margin of 10.6% down by 60 bps; and adj. EBITDA margin of 11.9% down by 60 bps.
  • Windows and Other Specialty Products sales were $180M (-1% Y/Y); adj. operating margin 4.4% up by 220 bps; and adj. EBITDA margin 7.8% up by 283 bps.
  • Q4 Overall gross margin declined by 60 bps to 32%; Adj. gross margin was 32.3% down by 30 bps; operating profit improved by 130 bps to 15.1%; and Adj. operating margin was 15.4% up by 150 bps.
  • Adj. EBITDA was $335M (+22.8% Y/Y) and margin expanded by 180 bps to 17.4%.
  • Net cash from operating activities for the year ended was $1.03B, compared to $751M a year ago; and Free Cash Flow of $803M.
  • FY19 Guidance: EPS $2.65-$2.76; and Adj. EPS $2.60-$2.80.
  • Previously: Masco beats by $0.08, beats on revenue (Feb. 7)

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