Masonite: 2Q Earnings Snapshot
TAMPA, Fla. (AP) _ Masonite International Corp. (DOOR) on Monday reported second-quarter net income of $24.2 million.
The Tampa, Florida-based company said it had net income of 96 cents per share. Earnings, adjusted for one-time gains and costs, were $1.09 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.15 per share.
The door maker for the housing industry posted revenue of $562.9 million in the period, also falling short of Street forecasts. Six analysts surveyed by Zacks expected $579.4 million.
Masonite expects full-year earnings in the range of $3.30 to $3.90 per share.
Masonite shares have increased 13% since the beginning of the year. In the final minutes of trading on Monday, shares hit $50.74, a drop of 23% in the last 12 months.