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Masco Corp MAS

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Morningstar’s Analysis

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Masco Has Exceptional Third Quarter, as More Time Spent at Home Fuels Repair and Remodel Spending

Analyst Note

| Brian Bernard, CFA, CPA |

While the coronavirus pandemic has adversely affected many parts of the U.S. economy, the housing market has been a real bright spot. Migration to the suburbs has accelerated, and the combination of more time spent at home, more discretionary income, and higher home prices has resulted in elevated repair and remodel spending. Because of these factors, we were expecting a strong third-quarter performance from Masco, but the firm’s results exceeded our expectations.

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Company Profile

Business Description

Masco is a global leader in home improvement and building products. The company’s $4 billion plumbing segment, led by the Delta and Hansgrohe brands, sells faucets, showerheads, and other related plumbing components. The $2.7 billion decorative architectural segment primarily sells paints and other coatings under the Behr and Kilz brands. Masco sold its Milgard and U.K. windows businesses in 2019 for more than $725 million and sold its cabinetry business for $1 billion in first quarter 2020.

Contact
17450 College Parkway
Livonia, MI, 48152
T +1 313 274-7400
Sector Industrials
Industry Building Products & Equipment
Most Recent Earnings Sep 30, 2020
Fiscal Year End Dec 31, 2019
Stock Type Slow Growth
Employees 22,000

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