Masco reports increase in Q2 sales
Masco posted a strong second quarter, reporting a sales increase of 10% to $2.1 billion, compared with $1.9 billion in the second quarter of 2012. North American sales increased 11%.
Income from continuing operations was $0.23 per common share compared with a loss of $0.15 per common share in the second quarter of 2012.
“All operating segments contributed to both top and bottom line growth, accelerated by the strength of new home construction in North America and the successful execution of new product and program introductions at retail,” according to the company.
“We are very pleased with our second-quarter 2013 results, certainly one of the strongest quarters since the downturn and a continuation of the momentum which started for us in the fourth quarter of 2012,” said Masco’s president and CEO, Tim Wadhams. “Top- and bottom-line growth was delivered by each of our segments in the second quarter against a backdrop of continued growth in North American new home construction and new product introductions.”