Masco: 2Q Earnings Snapshot
LIVONIA, Mich. (AP) _ Masco Corp. (MAS) on Thursday reported second-quarter net income of $240 million.
On a per-share basis, the Livonia, Michigan-based company said it had net income of 82 cents. Earnings, adjusted for non-recurring costs, were 88 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 81 cents per share.
The maker of Behr paint, Delta faucets and other building products posted revenue of $2.28 billion in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $2.34 billion.
Masco expects full-year earnings in the range of $2.62 to $2.72 per share.
Masco shares have increased 34% since the beginning of the year, while the Standard & Poor’s 500 index has increased 20%.