Masco Corp (NYSE:MAS)
$ 60.42 +0.12 (+0.2%) Market Cap: 12.75 Bil Enterprise Value: 15.92 Bil PE Ratio: 16.51 PB Ratio: 0 GF Score: 87/100
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Q4 2024 Masco Corp Earnings Call Transcript

Feb 11, 2025 / 01:00PM GMT
Release Date Price: $78.65 (+1.38%)

Key Points

Positve
  • Masco Corp (MAS) introduced several innovative products in 2024, including water filtration products and a smart monitoring system for spas.
  • The company completed the sale of Kichler Lighting, which is expected to streamline its portfolio and drive greater shareholder value.
  • Masco Corp (MAS) achieved a 7% increase in earnings per share in the fourth quarter, marking the seventh consecutive quarter of year-over-year margin expansion.
  • The company returned over $1 billion to shareholders in 2024 through dividends and share repurchases.
  • Masco Corp (MAS) has a strong innovation pipeline, maintaining a vitality index of around 30% for products less than 36 months old.
Negative
  • Fourth-quarter sales decreased by 3%, primarily due to the divestiture of Kichler Lighting.
  • Plumbing sales decreased by 1% in local currency, with lower volumes in North America.
  • The Decorative Architectural segment saw a 6% decrease in sales, largely due to the Kichler divestiture.
  • The company anticipates a flat to down low single-digit market for global repair and remodel markets in 2025.
  • Masco Corp (MAS) faces potential challenges from recently enacted China tariffs, which could impact costs despite mitigation efforts.
Operator

Good morning ladies and gentlemen. Welcome to the Masco Corporation 2024 fourth-quarter and full year conference call. My name is Joelle and I will be your conference operator for today's call. As a reminder, today's conference call is being recorded for replay purposes. (Operator Instructions)

I will now turn the call over to Robin Zondervan, Vice President, Investor Relations and FP&A. You may begin.

Robin Zondervan
Masco Corp - Vice President, Investor Relations and FP&A

Thank you, operator, and good morning, everyone. Welcome to Masco Corporation's 2024 fourth quarter and full year conference call. With me today are Keith Allman, President and CEO of Masco; and Rick Westenberg, Masco's Vice President and Chief Financial Officer.

Our fourth quarter earnings release and the presentation slides are available on our website under investor relations. Following our remarks, we will open the call for analyst questions. Please limit yourself to one question with one follow-up. If we can't take your question now, please call me directly

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