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Masco Beats On Earnings; Stock Moves Higher

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Masco (NYSE: MAS) has moved higher since Monday's closing bell on the back of a stellar earnings report, along with upbeat guidance.

Masco is up 7.9 percent at $21.88 in the pre-market.

Masco reported EPS of $0.32 for the second quarter versus analyst estimates of $0.29. EPS grew by 39 percent year-over-year.

The beat on earnings came as result of sales growth, which came in at $2.3 billion. This was a growth of five percent year-over-year. Analysts on a consensus basis anticipated revenue of $2.26 billion.

Adjusted operating profit margin also grew year-over-year from 9.6 percent to 11 percent in Q2. The improving operating margin came as a result of better gross margins, along with better operating cost management.

Masco CEO Keith Allman was upbeat on guidance: “As we move into the third quarter, we continue to see growing demand for our products and services across our end markets. Our outlook remains positive with the belief that new home construction and repair and remodel activity will show steady growth in 2014.”

Analysts' consensus estimates for Q3 is $0.34. Analysts anticipate EPS to grow by 25.9 percent year-over-year in the next quarter.

 

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Posted-In: Keith AllmanEarnings News Guidance