Masco: Q1 Earnings Snapshot
LIVONIA, Mich. (AP) _ Masco Corp. (MAS) on Wednesday reported first-quarter earnings of $94 million.
The Livonia, Michigan-based company said it had profit of 34 cents per share. Earnings, adjusted for one-time gains and costs, were 89 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The maker of Behr paint, Delta faucets and other building products posted revenue of $1.97 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.83 billion.
Masco expects full-year earnings in the range of $3.50 to $3.70 per share.
Masco shares have risen 16% since the beginning of the year, while the S&P’s 500 index has increased 11%.