Masco: 2Q Earnings Snapshot
LIVONIA, Mich. (AP) _ Masco Corp. (MAS) on Tuesday reported second-quarter net income of $211 million.
The Livonia, Michigan-based company said it had net income of 68 cents per share. Earnings, adjusted for non-recurring costs, came to 75 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The maker of Behr paint, Delta faucets and other building products posted revenue of $2.3 billion in the period, exceeding Street forecasts. Nine analysts surveyed by Zacks expected $2.29 billion.
Masco expects full-year earnings in the range of $2.48 to $2.55 per share.
Masco shares have fallen 10 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 5 percent.