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Masco Q2 profit climbs 36.5% YOY

Masco Corp. said its second-quarter normalized net income came to 37 cents per share, compared with the S&P Capital IQ consensus estimate of 35 cents per share.

EPS increased 39.7% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $128.1 million, a gain of 36.5% from $93.9 million in the year-earlier period.

The normalized profit margin climbed to 6.6% from 5.0% in the year-earlier period.

Total revenue grew on an annual basis to $1.93 billion from $1.88 billion, and total operating expenses came to $1.65 billion, compared with $1.66 billion in the prior-year period.

Reported net income declined 13.4% from the prior-year period to $106.6 million, or 31 cents per share, from $123.2 million, or 35 cents per share.