Masco Corporation (MAS)

Masco reported third-quarter 2026 net sales of $1,966 million on 28 October, up 3 percent from a year earlier 1. Operating profit rose 12 percent to $338 million, and earnings per share were $1.17 against $0.90 1.

Gross margin, the share of sales left after production costs, widened to 36.6 percent from 34.2 percent 1. The company raised its adjusted earnings per share outlook for 2026 to $4.65 to $4.75, from $4.40 to $4.60 1. Chief executive Jon Nudi said the company expects the demand environment to stay challenged in the near term 1.

During the quarter Masco completed the sale of Bristan, a United Kingdom maker of faucets and showers, for £49 million ($65 million) net of cash disposed 2. Masco also began receiving refunds of tariffs the U.S. Supreme Court ruled unlawful, which lowered plumbing tariff costs 2.

Masco designs, makes and distributes branded home improvement and building products, sold mostly for repair and remodeling and less for new home construction 3. Its two business lines are plumbing products and decorative architectural products, chiefly paint 3.

Sales were $7,562 million in 2025, down 3 percent from $7,828 million in 2024 3. The company said lower sales volume cut sales by four percent, partly offset by higher plumbing prices that added two percent 3.

Gross margin, sales minus production costs as a share of sales, was 35.4 percent in 2025 against 36.2 percent in 2024 3. Operating profit fell to $1,248 million from $1,363 million 3. The company named higher commodity and tariff costs and lower volume among the causes 3.

In the third quarter of 2024 Masco sold its Kichler lighting business for $125 million, net of cash disposed 3. It recorded an $88 million loss on the sale 3. The sale cut the decorative segment's 2025 sales by six percent, on top of an eight percent drop from lower volume, for a 14 percent decline 3.

In 2025 Masco repurchased and retired 8.5 million shares for about $576 million, and it raised its quarterly dividend by about seven percent over 2024 3.

Jonathon Nudi, now president and chief executive, began serving on 7 July 2025 8.

In the fourth quarter of 2025 Masco began restructuring actions to streamline the business and cut headcount, with charges of about $18 million that quarter 3. It then announced that Liberty Hardware would join its Delta Faucet business 3.

Plumbing Products

This segment sells faucets, showerheads, valves, bathing units, shower bases, sinks, water filtration systems, spas and saunas under brands including Delta, Brizo, Hansgrohe, Kraus and Hot Spring 3. It sells mainly to home center and online retailers, wholesalers and distributors 3.

Plumbing net sales were $1,338 million in the third quarter of 2026, against $1,290 million a year earlier 2. Higher selling prices added five percent and North American volume two percent, while lower International volume, mix and the Bristan sale each took away one percent 2.

The 10-K names Kohler, Fortune Brands' Moen, Lixil's American Standard and Grohe, and Zurn Elkay as rivals, along with private label and digitally native brands 3. Many plumbing products contain brass, so copper and zinc prices matter 3.

Paint and decorative products

Behr paint, Kilz primers and related coatings make up the decorative segment, sold to do-it-yourself and professional customers through home centers 3. Architectural coatings were approximately 31 percent of consolidated net sales in 2025 3.

The Home Depot is Masco's largest customer and holds Behr brand exclusivity in North American retail 3. Decorative net sales were $628 million in the third quarter of 2026, against $627 million a year earlier 2.

The 10-K lists Sherwin-Williams, PPG, Benjamin Moore and RPM International's Rust-Oleum among competitors 3. Liberty cabinet hardware moved to the Plumbing segment from the first quarter of 2026 2.

Plants, people and problems

At the end of 2025 Masco listed 32 manufacturing and 23 warehouse sites in North America, and 12 manufacturing and 16 warehouse sites elsewhere, mostly in Europe and China 3. It employed approximately 18,000 people 3.

Jai Shah, group president for plumbing and wellness, was to conclude service on 3 July 2026 5. Tariffs remain a cost problem, since the company reports significantly higher costs from tariffs, particularly those related to China 3.

The U.S. Supreme Court ruled in the first quarter of 2026 that tariffs under the emergency powers act were unlawful, and Masco began receiving refunds in the second quarter 2.

The umbrella, in words

Masco's main brands are Behr paint, Delta and Hansgrohe faucets, bath and shower fixtures, Liberty hardware and Hot Spring spas 1.

Its subsidiaries list names Hansgrohe SE, the German faucet maker, of which Masco Germany Holding GmbH owns 68.35 percent 7. It also names Sauna360 Group Oy, and Watkins Manufacturing, which trades as Caldera Spas and Hot Spring Spas 7.

Masco leases its Livonia, Michigan headquarters, owns a research building in Taylor, Michigan, and leases a Luxembourg office for most foreign operations 3. It had approximately 2,200 holders of record on 31 January 2026 3.

At the 8 May 2026 meeting, holders approved a bylaw letting shareholders owning 25 percent of the voting power request a special meeting 6.

Masco expects 2026 earnings per share of $4.51 to $4.61, and $4.65 to $4.75 on an adjusted basis 1.

The board declared a quarterly dividend of $0.32 per share, payable on 23 November 2026 to holders of record on 6 November 1.

The company expects about $50 million of further restructuring charges in 2026 3.

A $2.0 billion repurchase authorization took effect on 10 February 2026 2. A $300 million accelerated repurchase finished on 27 July 2026 2.

On 20 March 2026 Masco entered a $1 billion revolving credit agreement, replacing the 2022 agreement of the same size 4. It matures on 20 March 2031 and may be raised by up to $500 million 2.

The board intended a three percent annual dividend increase to $1.28 per share in 2026 3.

The Bristan sale could add up to £6 million ($8 million) if performance measures are met by the year ended 31 December 2026 2.