Masco: Q2 Earnings Snapshot

LIVONIA, Mich. (AP) _ Masco Corp. (MAS) on Thursday reported a second-quarter loss of $36 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Livonia, Michigan-based company said it had a loss of 14 cents. Earnings, adjusted for non-recurring costs, were $1.14 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.

The maker of Behr paint, Delta faucets and other building products posted revenue of $2.18 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $2.17 billion.

Masco expects full-year earnings in the range of $3.65 to $3.75 per share.

Masco shares have climbed almost 9% since the beginning of the year, while the S&P’s 500 index has climbed 17%.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MAS at https://www.zacks.com/ap/MAS

Categories: Business News