Latest News by Industry
LIVONIA, Mich. (AP) — LIVONIA, Mich. (AP) — Masco Corp. (MAS) on Wednesday reported first-quarter profit of $215 million.
The Livonia, Michigan-based company said it had profit of 97 cents per share. Earnings, adjusted for non-recurring gains, were 93 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The maker of Behr paint, Delta faucets and other building products posted revenue of $1.93 billion in the period, which did not meet Street forecasts. Six analysts surveyed by Zacks expected $1.95 billion.
Masco expects full-year earnings in the range of $4 to $4.25 per share.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MAS at https://www.zacks.com/ap/MAS