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Masco Q4 profit climbs 11.9% YOY

Masco Corp. said its fourth-quarter normalized net income came to 31 cents per share, compared with the S&P Capital IQ consensus estimate of 35 cents per share.

EPS increased 16.1% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $100.8 million, a gain of 11.9% from $90.0 million in the year-earlier period.

The normalized profit margin rose to 5.7% from 5.2% in the year-earlier period.

Total revenue rose year over year to $1.76 billion from $1.72 billion, and total operating expenses increased on an annual basis to $1.54 billion from $1.50 billion.

Reported net income rose 33.2% year over year to $96.7 million, or 30 cents per share, from $72.6 million, or 22 cents per share.

For the year, the company's normalized net income totaled $1.44 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $1.54.

EPS rose from $1.15 in the prior year.

Normalized net income was $475.8 million, an increase from $391.6 million in the prior year.

Full-year total revenue rose year over year to $7.36 billion from $7.14 billion, and total operating expenses grew on an annual basis to $6.30 billion from $6.23 billion.

The company said reported net income grew on an annual basis to $485.1 million, or $1.47 per share, in the full year, from $351.2 million, or $1.03 per share.