01—Abstract
Summary
Summary of the 8-K filed April 22, 2026. Cited figures are marked; the original filing is the authoritative source.
Masco Corporation reported first quarter 2026 results in a press release (Exhibit 99) dated April 22, 2026.
Net sales increased 6 percent to $1,918 milliona, or 4 percent in local currency. Plumbing Products net sales rose 9 percent, while Decorative Architectural Products net sales were in line with the prior year. Reported operating profit increased 10 percent to $316 million, with operating margin of 16.5 percent.
Adjusted operating profit rose 13 percent to $324 millionb, and adjusted operating margin was 16.9 percent, up 90 basis points. Reported earnings per share were $1.05 versus $0.87 a year earlier, and adjusted earnings per share grew 20 percent to $1.04. Capital allocation remained a focus.
The company repurchased 3.1 million shares for $202 millionc and returned $267 million to shareholders through dividends and share repurchases during the quarter. Liquidity at quarter end was $1,261 million, including $873 million of revolver availability, and cash and cash investments declined to $388 million from $647 million at December 31, 2025. Notes payable rose to $129 million from $2 million.
Management maintained its 2026 guidance, with reported earnings per share of $3.91 to $4.11d and adjusted earnings per share of $4.10 to $4.30. CEO Jon Nudi cited a dynamic macroeconomic and geopolitical environment as the reason for maintaining rather than raising the adjusted outlook.
02—Key points
Key Highlights
- Net sales rose 6 percent to $1,918 million (4 percent in local currency), with Plumbing Products up 9 percent and Decorative Architectural Products in line with the prior year.
- Adjusted operating profit increased 13 percent to $324 million, with adjusted operating margin of 16.9 percent, up 90 basis points.
- Adjusted earnings per share grew 20 percent to $1.04, compared with $0.87 in the first quarter of 2025; reported EPS was $1.05.
- Gross margin was 35.8 percent on a reported basis and 36.0 percent as adjusted, versus 35.8 percent and 35.9 percent a year earlier.
- Returned $267 million to shareholders through dividends and share repurchases, including 3.1 million shares repurchased for $202 million.
- Total liquidity was $1,261 million at March 31, 2026, including $873 million of revolver availability.
- 2026 guidance maintained: EPS of $3.91 to $4.11 reported and $4.10 to $4.30 adjusted.
03—Questions
Frequently Asked Questions
How did Masco perform in the first quarter of 2026?
Net sales increased 6 percent to $1,918 million, and operating profit rose 10 percent to $316 million on a reported basis. On an adjusted basis, operating profit increased 13 percent to $324 million, and adjusted EPS grew 20 percent to $1.04.
What drove segment performance?
Plumbing Products net sales increased 9 percent to $1,364 million, with operating profit of $243 million on a reported basis and $250 million as adjusted. Decorative Architectural Products net sales were flat at $554 million, while its operating profit rose to $104 million from $88 million, and its reported operating margin reached 18.8 percent.
Did Masco change its 2026 outlook?
No. Masco maintained its 2026 guidance, with reported EPS of $3.91 to $4.11 and adjusted EPS of $4.10 to $4.30. CEO Jon Nudi said the company believes it is prudent to maintain the adjusted guidance given the dynamic macroeconomic and geopolitical environment.
How much cash did Masco return to shareholders, and how did its balance sheet change?
Masco returned $267 million through dividends and share repurchases, including $202 million for buybacks of 3.1 million shares. Cash and cash investments fell to $388 million from $647 million at year-end 2025, and notes payable increased to $129 million from $2 million. Long-term debt was unchanged at $2,945 million.
04—Continue