Masco Sees Sales Increase

Sales increased 24 per cent to $2,179 million, for Masco Corporation, in the second quarter of 2021. Operating profit increased 29 percent to $437 million, while operating margin increased 90 basis points to 20.1 per cent. However, loss per share from continuing operations due to the settlement of domestic qualified defined benefit pension plans was $0.14 per share. The company repurchased 6.6 million shares for $447 million, while the anticipated 2021 earnings per share were in the range of $1.74 to $1.84. Plumbing products’ net sales increased 53 per cent and decorative architectural products’ net sales decreased five percent for the company.