Stock Monitor: Builders FirstSource Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 12, 2018 / Active-Investors.com has just released a free earnings report on Masco Corp. (NYSE: MAS). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=MAS. The Company released its financial results on February 08, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's net sales and adjusted operating earnings grew 7% and 33% y-o-y, respectively; topping market consensus estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Builders FirstSource, Inc. (NASDAQ: BLDR), which also belongs to the Financial sector as the Company Masco. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Masco most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/'symbol=MAS
Earnings Highlights and Summary
During the three months ended December 31, 2017, Masco reported net sales of $1.87 billion, which came in above the $1.76 billion recorded at the end of Q4 FY16. Moreover, the Company's net sales numbers outperformed market expectations of $1.83 billion.
The construction materials Company reported a net income attributable to common shareholders of $87 million, or $0.27 per diluted share, in Q4 FY17 compared to $98 million, or $0.30 per diluted share, in the prior year's same period. The Company's adjusted net income was $137 million, or $0.44 per diluted share, in Q4 FY17 compared to $105 million, or $0.33 per diluted share, in Q4 FY16. Meanwhile, Wall Street had expected the Company to report an adjusted net income of $0.43 per diluted share.
The Livonia, Michigan-based Company's net sales came in at $7.64 billion for the full year FY17 compared to $7.36 billion in FY16. The Company posted an adjusted net income of $618 million, or $1.94 per diluted share, in FY17, rising from $498 million, or $1.51 per diluted share, in the last year.
Operating Metrics
In the reported quarter, Masco's cost of sales was $1.26 billion, up from $1.19 billion in Q4 FY16. The Company's adjusted gross profit came in at $617 million, or 32.9% of net sales, in Q4 FY17 versus $577 million, or 32.6% of net sales, in the year ago comparable period. The Company spent $352 million on adjusted selling, general, and administrative expenses (SG&A) in Q4 FY17 compared to $356 million in Q4 FY16. The Company's adjusted operating profit increased to $265 million, or 14.1% of net sales, during Q4 FY17 from $221 million, or 12.6% of net sales, in the third quarter of FY16. Furthermore, the Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) stood at $297 million in Q4 FY17 versus $252 million in Q4 FY16.
Segment Performance
Masco's Plumbing Products segment's net sales grew 9% to $891 million in the reported quarter from $972 million in Q4 FY16, driven by North American and International growth. The segment's adjusted operating profit also increased to $170 million, or 17.5% of segment sales, in Q4 FY17 from $153 million, or 17.2% of segment sales, in Q4 FY16. Additionally, the segment's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) came in at $187 million in Q4 FY17 compared to $168 million in Q4 FY16.
During Q4 FY17, Masco's Decorative Architectural Products segment reported net sales of $494 million, rising 12% from the $443 million recorded in the prior year's corresponding quarter, driven by a strong volume growth in both coatings and builders' hardware. The segment's operating profit came in at $88 million, or 17.8% of segment sales, in Q4 FY17 compared to $75 million, or 16.9% of segment sales, in Q4 FY16. Moreover, the segment's adjusted EBITDA was $92 million in Q4 FY17 compared to $79 million in Q4 FY16.
Masco's Cabinetry Products segment's revenues were $223 million in Q4 FY17 versus $234 million in Q4 FY16. The segment's operating profit came in at $25 million, or 11.2% of segment sales, in Q4 FY17 compared to $19 million, or 8.1% of segment sales, in Q4 FY17. Additionally, the segment's adjusted EBITDA came in at $28 million in Q4 FY17 compared to $22 million in Q4 FY16.
Masco's Windows and Other Specialty Product segment's sales came in at $185 million in Q4 FY17 compared to $191 million in the last year's same quarter. The Company reported an adjusted operating profit of $5 million, or 2.7% of segment revenues, in Q4 FY17 versus $7 million, or 3.7% of segment revenues, in Q4 FY16. Additionally, the segment reported an adjusted EBITDA of $10 million in Q4 FY17 compared to $12 million in Q4 FY16.
Cash Flow and Balance Sheet
During FY17, Masco's net cash flow provided by operating activities was $751 million compared to $789 million a year ago. At the close of books on December 31, 2017, Masco had a cash and cash equivalents balance of $1.19 billion versus $990 million at the close of books on December 31, 2016. Additionally, the Company's long-term debt decreased marginally to stand at $2.97 billion as on December 31, 2017, from $3.00 billion as on December 31, 2016.
Earnings Guidance
For the full year FY18, Masco expects earnings per share (EPS) to be in the range of $2.36 to $2.51, while adjusted EPS is forecasted to be in the band of $2.48 to $2.63.
Stock Performance Snapshot
March 09, 2018 - At Friday's closing bell, Masco's stock rose 2.48%, ending the trading session at $42.48.
Volume traded for the day: 1.83 million shares.
Stock performance in the last three-month - up 0.78%; previous six-month period - up 14.81%; and past twelve-month period - up 26.02%
After last Friday's close, Masco's market cap was at $13.04 billion.
Price to Earnings (P/E) ratio was at 26.40.
The stock has a dividend yield of 0.99%.
The stock is part of the Financial sector, categorized under the Credit Services industry. This sector was up 1.8% at the end of the session.
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