AUP Drives Masonite Sales

Masonite International Corporation had consolidated net sales of $726 million in the first quarter of 2022, an increase of 12 per cent from net sales of $646 million in the first quarter of 2021. The increase resulted from a 15 per cent increase in average unit price (AUP), partially offset by a decrease in base volume, a prior-year divestiture, and impact from unfavourable foreign exchange. North American residential net sales were $569 million, a 19 per cent increase compared to the first quarter of 2021 while European net sales were $80 million, a nine per cent decrease. Architectural net sales were $71 million, a five per cent decrease compared to the first quarter of 2021. Total company gross profit was $184 million in the quarter, an increase of 16 per cent compared to $159 million in the first quarter of 2021. Gross profit margin increased 90 basis points to 25.4 per cent. Net income was $68 million compared to $47 million in the year-ago period.