Masco: 3Q Earnings Snapshot
LIVONIA, Mich. (AP) _ Masco Corp. (MAS) on Wednesday reported third-quarter net income of $126 million.
The Livonia, Michigan-based company said it had profit of 44 cents per share. Earnings, adjusted to account for discontinued operations and non-recurring costs, were 68 cents per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.
The maker of Behr paint, Delta faucets and other building products posted revenue of $1.95 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $2.15 billion.
Masco shares have climbed 53% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 21%.