Masco (MAS) Q1 2026 Earnings Transcript

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Wed, April 22, 2026 astatine 11:05 AM CDT 53 min read

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Wednesday, April 22, 2026 astatine 8 a.m. ET

• Chief Executive Officer — Jonathon Nudi

• Chief Financial Officer — Richard Westenberg

• Vice President, Masco Operating System — Rick Marshall

• Operator

Jonathon Nudi: Thank you, Robin. Good morning, everyone, and convey you for joining us. Before I sermon our quarterly results, I privation to walk a fewer minutes talking astir the continued improvement of our Masco Executive Committee, which we established astatine the extremity of past year. Jay Shah, Group President Pulling and Wellness; and Rick Marshall, Vice President of Masco Operating System, precocious announced their intent to discontinue from Masco aboriginal this summer. I'd similar to convey some Jay and Rick for their enactment and their important contributions to some our concern and our culture.

With Jay's retirement, we've taken steps to further streamline our organization, the leaders of our 4 largest businesses: Delta, Hunts grow, Bar and Watkins Wellness volition present each study straight to me. These 4 leaders person implicit 80 years of combined work astatine Masco, person extended acquisition successful our manufacture and are cardinal contributors to Masco's show and our culture. Furthermore, we are adding 2 caller leaders to our enforcement committee with expertise successful proviso concatenation and procurement. The summation of these leaders and capabilities volition alteration america to thrust further efficiencies, leverage our standard and heighten our velocity of execution crossed the enterprise.

The operation and enactment creation of our enforcement committee volition assistance alteration greater agility and tighter alignment betwixt firm and concern portion priorities each successful the pursuit of delivering above-market apical and bottommost enactment growth. In addition, we person continued the implementation of different initiatives that were announced earlier this year. Our integration of Liberty Hardware into Delta Faucet Company is connected way arsenic we further leverage the brands, capabilities and standard of our Delta Faucet business. Restructuring actions to streamline our business, trim caput number and optimize operations are ongoing. We incurred astir $8 cardinal successful restructuring charges successful the archetypal quarter, and we proceed to expect astir $50 cardinal successful full charges successful 2026.

The -- the savings generated from these actions volition money further maturation initiatives and lend to our aboriginal borderline expansion. We're already experiencing the affirmative interaction of these actions successful our results. With that, let's dive into our archetypal 4th results. Please crook to Slide 5. Overall, we are pleased with our show successful an highly dynamic environment. Net income accrued 6% oregon 4% successful section currency, chiefly driven by favorable pricing. Additionally, portion inactive down slightly, this was our strongest year-over-year archetypal 4th measurement show since the extremity of the pandemic. Operating nett was $324 million, an summation of 13%. Operating nett borderline was 16.9%, an betterment of 90 ground points.