Settlement Charges Affect Masonite Earnings

Masonite’s third-quarter sales increased six per cent to $588 million from third quarter 2019 sales of $552 million. However, it still posted a net loss of $22 million for the quarter compared to a net income of $15 million in the third quarter last year. North American residential net sales were $421 million, a 12 per cent increase for the period. The loss for the quarter stemmed from litigation settlement charges in its architectural segment and higher expenses.