Masonite: 3Q Earnings Snapshot
TAMPA, Fla. (AP) _ Masonite International Corp. (DOOR) on Tuesday reported third-quarter profit of $24.8 million.
On a per-share basis, the Tampa, Florida-based company said it had profit of 89 cents. Earnings, adjusted to extinguish debt and to account for discontinued operations, came to $1.03 per share.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.05 per share.
The door maker for the housing industry posted revenue of $557.1 million in the period, which also missed Street forecasts. Five analysts surveyed by Zacks expected $562 million.
Masonite shares have decreased 23 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $56.86, a drop of 12 percent in the last 12 months.