Content about Masco Corp.

October 28, 2014

Masco Corporation received a 4% boost in sales in the third quarter, which it largely attributes to activity in its Plumbing Products, Other Specialty and Installation, and Other Services segments.

September 30, 2014

Masco Corporation announced some cost-cutting measures on Tuesday, not the least of which included the spinoff of its installation unit.

June 4, 2014

Masco Corporation has promoted Richard O'Reagan to the title of group president, global plumbing, as well as brought on Jai Shah as president of Delta Faucet Company and group VP of Masco Corporation.

O'Reagan, who was previously serving as president of Delta Faucet, will now be responsible for that company as well as Hansgrohe, BrassCraft, Masco Canada, Liberty Hardware, Mirolin and Brasstech. He's been with the company since 2008, when he joined as VP sales at Delta Faucet. He held a similar role at Mansfield Plumbing Products prior to that.

April 28, 2014

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.

February 21, 2014

Trex Company has appointed Gerald Volas to its board of directors, effective March 1, 2014.

“Jerry’s extensive experience in all aspects of the home improvement sector and his in-depth understanding of leadership brands make him an excellent addition to our board," said Trex chairman, president and CEO Ronald Kaplan. "We look forward to his contributions as we work to further expand Trex’s industry-leading distribution presence, our best-in-class product platform and our branding presence.”

February 11, 2014

Taylor, Mich.-based Masco Corp.'s fourth-quarter net sales from continuing operations increased 9% to $2.0 billion, the company reported late Monday.

For the full year, net sales increased 9% to $8.2 billion.

Net income for the fourth quarter was $45 million, compared with a loss of $87 million in the same quarter last year. For the full year, net income swung to a profit of $272 million, compared with a loss of $114 million in 2012.

February 5, 2014

Masco Corp. and its Foundation have partnered to award more than $1 million in support of its veteran initiative, "America's Heroes: A Million Thanks."

Among the 50 veteran-focused organizations receiving awards, 11 are based in Michigan, home of the company's headquarters. The organizations will receive funding to support active military personnel and reservists, post-9/11 veterans, as well as their families.

February 4, 2014

Las Vegas -- The 2014 Spirit of Life Award Reception honored Masco Corporation's Karen Mendelsohn during a City of Hope Hardware/Homebuilding Industry event Monday night here.

On the eve of the International Builders' Show and KBIS, the City of Hope disease treatment and research center pointed to a 2014 Hardware/Homebuilding Industry fundraising campaign total of $800,000.

April 30, 2013

Taylor, Mich.-based Masco Corp. says it continues to benefit from trends in new home construction.

Taylor, Mich.-based Masco Corp. reported first-quarter net sales of $1.88 billion, up 3.9% from the same quarter last year.

Net income for the giant manufacturer of home improvement and building products was $47 million, up from $33 million in the prior-year quarter. 

December 6, 2012

The board of directors of Masco Corp. has appointed Donald Parfet as a director, according to a Dec. 4 filing with the Securities and Exchange Commission. He will serve on the board’s audit committee.

Parfet, 60, is the managing director of Apjohn Group, a business development company, and a general partner of Apjohn Ventures Fund Limited Partnership, a venture capital fund. He currently serves on the boards of directors of Kelly Services and Rockwell Automation.

October 30, 2012

Masco Corp. has reported net sales of $1.976 billion for its third fiscal quarter, which were flat compared with sales of $1.978 billion in the third quarter a year ago. North American sales increased 4% and international sales decreased 12%. In local currencies, international sales decreased 3% compared with the third quarter of 2011.

Net income reported for the third quarter, which ended Sept. 30, was $15 million, compared with $36 million during the corresponding quarter last year.

July 31, 2012

Home products manufacturer Masco Corp. reported net sales of $2.0 billion for its second fiscal quarter, flat compared with $1.99 billion in the same quarter the year before. North American sales increased 3% and international sales decreased 9%, the company reported. In local currencies, international sales were flat compared with the second quarter of 2011.

Net loss for the company for the second quarter, which ended June 30, was $75 million, compared with $8 million in profit during the second quarter of 2011.

July 27, 2012

Masco Corp., which was scheduled to go to trial on July 23 in a class-action suit filed by insulation installers, has decided to settle the case for $75 million, according to a July 26 filing with the Securities and Exchange Commission (SEC). The Taylor, Mich., firm, one of the nation’s largest installers of insulation, issued the following statement in its filing: 

June 18, 2012

Home products manufacturer Masco Corp. has promoted Jai Shah as its new VP human resources, replacing the retiring Charles Greenwood, according to a June 12 filing with the Securities and Exchange Commission (SEC).

Shah, 46, joined Masco in 2003 and most recently served as the company’s VP finance, retail/wholesale platform.

Greenwood will continue with Masco until 2013 to help ensure a smooth transition, the announcement said.

May 4, 2012

Masco Corp. has reported net sales of $1.87 billion for its first fiscal quarter, an increase of 7% over sales of $1.75 billion in the first quarter of 2011.

North American sales increased 9% and international sales increased 1%. In local currencies, international sales increased 5% compared with the first quarter of 2011.

Net income for the quarter, which ended March 31, was $33 million, compared with a net loss of $46 million a year ago.

February 14, 2012

Masco Corp. reported net sales of $7.46 billion for fiscal 2011, relatively flat compared with sales of $7.48 billion in 2010. North American sales decreased 3% and international sales increased 8% compared with 2010, the company said. In local currencies, international sales increased 3% compared with 2010.

The Taylor, Mich., corporation posted a net loss of $575 million for its 2011 fiscal year, compared with $1.04 billion during fiscal 2010.

December 2, 2011

Indianapolis-based Delta Faucet Co., a division of Masco Corp., promoted VP sales Richard O'Reagan to the post of company president.

He replaces Keith Allman, who was promoted to group president for Masco.

O'Reagan will be responsible for leading the development of new products and overseeing manufacturing and marketing for the Delta, Brizo and Peerless brands. In a press release, he said he intended to build on the company's strong brands, innovations and service, while also promoting advances in water efficiency.

November 22, 2011

Masco Corp. has announced the promotion of Keith Allman to group president, responsible for Brasstech, Delta Faucet Co., Hansgrohe, Liberty Hardware, Masco Bath, Masco Canada and Mirolin Industries Corp. Most recently, Allman had been president of Delta Faucet Co., a position he took over in 2007. 

October 24, 2011

Taylor, Mich.-based Masco Corp. reported third-quarter sales of $2 billion, up 3% from the same quarter last year. Masco's net income was $36 million for the quarter, compared with a net loss of $5 million in the third quarter of 2010.

CEO Tim Wadhams said the top line was lifted by "strong sales of plumbing-related products driven by share gains of our Hansgrohe and Delta brands, share gains in our Installation segment and foreign currency translation."

September 11, 2011

Masco Corp. announced that its board of directors declared a quarterly dividend of $.075 per common share, payable on Nov. 7, 2011, to shareholders of record on Oct. 7, 2011.

Headquartered in Taylor, Michigan, Masco Corp. is a leading manufacturer of home improvement and building products -- including Arrow, Delta, Behr and KraftMaid -- as well as a leading provider of services that include the installation of insulation and other building products.

February 14, 2011

Owens Corning is the new preferred fiberglass insulation provider to Masco Contractor Services, in a deal announced Monday. The partnership between the two companies is designed to create a more efficient supply chain.

"Working closely with Owens Corning enhances Masco Contractor Services' ability to grow its sales," said Timothy Wadhams, President and CEO at Masco Corporation.  "Collaboration throughout the supply chain will create efficiencies in logistics, lower working capital, consistent supply and better service for its customers." 

February 14, 2011

For Masco Corp., 2010 was a tale of two very different halves, according to CEO Tim Wadhams. 

The diverse home product company saw sales rise in the first half. Then, as the new home buyer tax credit expired and competition stiffened as costs increased, sales went south. "Our installation and cabinet businesses, which are tied to new-home construction and big-ticket repair and remodel activity, were particularly hard hit," he said.

January 17, 2011

Behr Paint and Home Depot will attempt to reach further into the pro market with the launch of the Kilz Pro-X line made by MasterChem Industries. Both Behr and Kilz are part of Masco Corp. The announcement was made at the International Builders’ Show on Jan. 12.

Initially the Kilz Pro-X line will offer 1,300 colors. Designed as part of Behr’s “Direct to Pros” program, the company hopes to begin with a February rollout and finish in May or June of 2011, when all 2,000 Home Depots will have the program.

October 26, 2010

The company behind Behr paint, Liberty Hardware, Arrow Fasteners and Delta Faucets feels the economic...