Masco falls after it withdraws annual profit forecast

Masco

23/04/2025 16:56

** Shares of home improvement firm Masco MAS.N fall as much as 7.9% to $56.55 in early trade, its lowest since November 2023

** Shares down ~1% at noon

** Co pulls annual profit forecast due to tariff and macroeconomic uncertainty

** Co also misses analysts' estimates for Q1 sales and profit estimates, according to data compiled by LSEG

** Masco exec says co expects about $400 mln in tariff-related costs in 2025 before mitigation efforts, expects most of the impact in H2

** Says it is taking steps to mitigate increased costs through pricing actions, cost savings initiatives, and product sourcing changes

** As of last close, MAS has fallen ~15% YTD

(Reporting by Neil J Kanatt in Bengaluru)

((Neil.JKanatt@thomsonreuters.com;))