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Masco Q1 profit climbs 22.4% YOY

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Masco Q1 profit climbs 22.4% YOY

Masco Corp. said its normalized net income for the first quarter amounted to 38 cents per share, compared with the S&P Capital IQ consensus estimate of 36 cents per share.

EPS climbed 26.9% year over year from 30 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $123.1 million, a gain of 22.4% from $100.6 million in the prior-year period.

The normalized profit margin increased to 6.9% from 5.9% in the year-earlier period.

Total revenue grew on an annual basis to $1.78 billion from $1.72 billion, and total operating expenses rose from the prior-year period to $1.52 billion from $1.49 billion.

Reported net income grew 29.5% from the prior-year period to $138.0 million, or 43 cents per share, from $106.6 million, or 32 cents per share.