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%.