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Masco Q3 profit climbs 21.7% YOY

Masco Corp. said its normalized net income for the third quarter came to 34 cents per share, compared with the S&P Capital IQ consensus estimate of 32 cents per share.

EPS increased 27.1% year over year from 27 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $115.0 million, a gain of 21.7% from $94.5 million in the prior-year period.

The normalized profit margin increased to 6.2% from 5.2% in the year-earlier period.

Total revenue totaled $1.84 billion, compared with $1.83 billion in the year-earlier period, and total operating expenses decreased year over year to $1.58 billion from $1.61 billion.

Reported net income fell 79.3% on an annual basis to $108.2 million, or 32 cents per share, from $522.4 million, or $1.48 per share.