MasterBrand, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 26, 2024 at 04:05 pm EST
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MasterBrand, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 677.1 million compared to USD 784.4 million a year ago. Net income was USD 36.1 million compared to USD 15.4 million a year ago. Basic earnings per share from continuing operations was USD 0.28 compared to USD 0.12 a year ago. Diluted earnings per share from continuing operations was USD 0.28 compared to USD 0.12 a year ago.
For the full year, sales was USD 2,726.2 million compared to USD 3,275.5 million a year ago. Net income was USD 182 million compared to USD 155.4 million a year ago. Basic earnings per share from continuing operations was USD 1.42 compared to USD 1.21 a year ago. Diluted earnings per share from continuing operations was USD 1.4 compared to USD 1.2 a year ago.
MasterBrand, Inc. is a manufacturer of residential cabinets in North America and offers a comprehensive portfolio of residential cabinetry products for the kitchen, bathroom and other parts of the home. The Company's products are available in a variety of designs, finishes and styles and span various categories of the cabinets market, such as stock, semi-custom and premium cabinetry. The Company's products are sold throughout the United States and Canada to the remodeling and new construction markets through three primary channels: dealers, retailers and builders. Its retail sales occur in-store and through various e-commerce channels, including its retail channel partners' online presence. The Company partners with regional and large-scale builders for single-family construction throughout North America, serving them directly or through a distribution network, allowing it to customize its service to each builder's requirements. The Company's brands include Mantra, Diamond and Omega.