Home improvement firm Masco rises after Q2 profit tops estimates

Masco

25/07/2024 15:15

** Shares of home improvement firm Masco  MAS.N  up as much
as 7.2% at $75.63 in early trading
    ** Co beats quarterly profit estimates on higher product
prices; adj. profit of $1.20 per share vs LSEG estimates of
$1.18 per share
    ** Co's quarterly gross margin rises 130 basis points to
37.5%
    ** Posts 2% rise in Q2 sales for overall plumbing business
    ** North American plumbing sales increased 5% in the quarter
- CEO Keith Allman on post earnings conference call
    ** However, total Q2 sales of $2.09 bln misses estimates of
$2.10 bln
    ** Up to last close, stock up ~5% YTD
    

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))