Masco North American Sales Flat
Masco Corporation had net sales of $1.76 billion for the second quarter of 2020, a decrease of four per cent compared to net sales of $1.83 billion in the second quarter of 2019. In local currency, North American sales were flat and international sales decreased 17 per cent. Gross margin for the quarter decreased 100 basis points to 35.6 per cent from 36.6 per cent and operating margins increased 30 basis points to 19.2 per cent from 18.9 per cent. Net income was $234 million in the second quarter compared to $252 million in the year-ago period. The plumbing products segment net sales decreased 14 per cent year-over-year and the decorative architectural products segment net sales increased eight per cent due to strong growth in paint and other coating products.