Masco's income up 39.6% in Q1
Masco Corporation delivered a robust first quarter earnings report, with sales and income both demonstrating strong forward momentum.
Net sales for the three months ended March 31 were $1.97 billion, up from $1.88 billion in the first quarter of 2013.
The company attributed its top-line growth mainly to Plumbing Products, Installation and Other Services, as well as Other Specialty Products. International sales were also up in Europe.
Meanwhile, net income came in at $74 million, compared to $53 million in the same year-ago period.
“It is our belief that new home construction will show continued growth in 2014, repair and remodel activity will grow modestly, and big ticket items will continue to show improvement,” said president and CEO Keith Allman. “As we move through the year, we will continue to focus on the customer and execute against our priorities by improving our enterprise leverage, driving a high performance culture and focusing on continuous improvement in all we do."