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MASCO CORPORATION REPORTS FIRST QUARTER 2026 RESULTS

Highlights
•Net sales increased 6 percent to $1,918 million
•Operating profit margin was 16.5 percent; adjusted operating profit margin was 16.9 percent
•Earnings per share were $1.05; adjusted earnings per share grew 20 percent to $1.04 per share
•Repurchased 3.1 million shares for $202 million
•Maintaining 2026 earnings per share guidance in the range of $3.91 - $4.11 per share, and on an adjusted basis, $4.10 - $4.30 per share

LIVONIA, Mich. (April 22, 2026) - Masco Corporation (NYSE: MAS), one of the world’s leading manufacturers of branded home improvement and building products, reported its first quarter 2026 results.

2026 First Quarter Results
•On a reported basis, compared to the first quarter 2025:
•Net sales increased 6 percent to $1,918 million; net sales increased 4 percent in local currency
◦Plumbing Products’ net sales increased 9 percent; in local currency net sales increased 7 percent
◦Decorative Architectural Products’ net sales were in line with prior year
◦In local currency, North American sales increased 5 percent and International sales increased 1 percent
•Gross margin was in line with the prior year at 35.8 percent
•Operating profit increased 10 percent to $316 million from $286 million
•Operating margin increased 60 basis points to 16.5 percent from 15.9 percent
•Net income increased 21 percent to $1.05 per share, compared to $0.87 per share
•Compared to the first quarter 2025, results for key financial measures, as adjusted for certain items (see Exhibit A) and applying a normalized tax rate of 24.5 percent, were as follows:
•Gross margin increased 10 basis points to 36.0 percent from 35.9 percent
•Operating profit increased 13 percent to $324 million from $288 million
•Operating margin increased 90 basis points to 16.9 percent from 16.0 percent
•Net income increased 20 percent to $1.04 per share, compared to $0.87 per share
•Liquidity at the end of the first quarter was $1,261 million (including availability under our revolving credit facility)
“We delivered strong first quarter operating results in an extremely dynamic environment,” said Jon Nudi, Masco’s President and Chief Executive Officer. “We posted sales growth of 6 percent, adjusted operating profit growth of 13 percent, and adjusted earnings per share growth of 20 percent during the quarter. Additionally, our capital allocation strategy enabled us to return $267 million to shareholders through dividends and share repurchases.”

“We are pleased with our first quarter performance and the team’s strong execution. As we continue to face a dynamic macroeconomic and geopolitical environment, we believe it is prudent to maintain our 2026 adjusted earnings per share guidance in the range of $4.10 to $4.30 per share,” continued Nudi. “With our industry leading brands, consumer-focused product portfolio, strong balance sheet, and disciplined capital allocation, we believe Masco is well positioned to continue to deliver long-term shareholder value.”












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About Masco
Headquartered in Livonia, Michigan, Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Our portfolio of industry-leading brands includes Behr® paint; Delta® and hansgrohe® faucets, bath and shower fixtures; Liberty® branded decorative and functional hardware; and HotSpring® spas. We leverage our powerful brands across product categories, sales channels and geographies to create value for our customers and shareholders. For more information about Masco Corporation, visit www.masco.com.
The 2026 first quarter supplemental material, including a presentation in PDF format, is available on the Company’s website at www.masco.com.
Conference Call Details
A conference call regarding items contained in this release is scheduled for Wednesday, April 22, 2026 at 8:00 a.m. ET. Participants in the call are asked to register five to ten minutes prior to the scheduled start time by dialing 800-715-9871 or 646-307-1963. Please use the conference identification number 3880732.
The conference call will be webcast simultaneously and in its entirety through the Company’s website. Shareholders, media representatives and others interested in Masco may participate in the webcast by registering through the Investor Relations section on the Company’s website.
A replay of the call will be available on Masco’s website or by phone by dialing 800-770-2030 or 609-800-9909. Please use the playback passcode 3880732#. The telephone replay will be available approximately two hours after the end of the call and remain available until May 22, 2026.
Safe Harbor Statement
This press release contains statements that reflect our views about our future performance and constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “outlook,” “believe,” “anticipate,” “appear,” “may,” “will,” “should,” “intend,” “plan,” “estimate,” “expect,” “assume,” “seek,” “forecast,” and similar references to future periods. Our views about future performance involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. We caution you against relying on any of these forward-looking statements.
Our future performance may be affected by the levels of residential repair and remodel activity, and to a lesser extent, new home construction, our ability to maintain our strong brands, to develop innovative products and respond to changing consumer purchasing practices and preferences, our ability to maintain our public image and reputation, our ability to maintain our competitive position in our industries, our reliance on key customers, the cost and availability of materials, our dependence on suppliers and service providers, extreme weather events and changes in climate, risks associated with our international operations and global strategies, the impact on demand, pricing and product costs resulting from tariffs, our ability to achieve the anticipated benefits of our strategic initiatives, our ability to successfully execute our acquisition strategy and integrate businesses that we have acquired and may in the future acquire, our ability to attract, develop and retain a talented workforce, risks associated with cybersecurity vulnerabilities, threats and attacks and risks associated with our reliance on information systems and technology. These and other factors are discussed in detail in Item 1A. "Risk Factors" in our most recent Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and in other filings we make with the Securities and Exchange Commission. Any forward-looking statement made by us speaks only as of the date on which it was made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Unless required by law, we undertake no obligation to update publicly any forward-looking statements as a result of new information, future events or otherwise.
Investor Contact
Robin Zondervan
Vice President, Investor Relations and FP&A
313.792.5500
MascoInvestorRelations@mascohq.com
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MASCO CORPORATION
Condensed Consolidated Statements of Operations - Unaudited
For the Three Months Ended March 31, 2026 and 2025
(in millions, except per common share data)
Three Months Ended March 31,
 20262025
Net sales$1,918 $1,801 
Cost of sales1,232 1,157 
Gross profit686 644 
Selling, general and administrative expenses369 358 
Operating profit316 286 
Other income (expense), net:
Interest expense(26)(26)
Other, net1 (7)
(25)(32)
Income before income taxes291 254 
Income tax expense63 56 
Net income228 198 
Less: Net income attributable to noncontrolling interest15 12 
Net income attributable to Masco Corporation$213 $186 
Income per common share attributable to Masco Corporation (diluted):
Net income$1.05 $0.87 
Average diluted common shares outstanding204 213 
 
Historical information is available on our website.

Amounts may not add due to rounding.
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MASCO CORPORATION
Exhibit A: Reconciliations - Unaudited
For the Three Months Ended March 31, 2026 and 2025
(dollars in millions)
Three Months Ended March 31,
 20262025
Gross Profit, Selling, General and Administrative Expenses, and Operating Profit Reconciliations  
Net sales$1,918 $1,801 
Gross profit, as reported$686 $644 
Rationalization charges5 2 
Gross profit, as adjusted$690 $646 
Gross margin, as reported35.8 %35.8 %
Gross margin, as adjusted36.0 %35.9 %
Selling, general and administrative expenses, as reported$369 $358 
Rationalization charges3 1 
Selling, general and administrative expenses, as adjusted$366 $358 
Selling, general and administrative expenses as a percent of net sales, as reported19.2 %19.9 %
Selling, general and administrative expenses as a percent of net sales, as adjusted19.1 %19.9 %
Operating profit, as reported$316 $286 
Rationalization charges8 2 
Operating profit, as adjusted$324 $288 
Operating margin, as reported16.5 %15.9 %
Operating margin, as adjusted16.9 %16.0 %


Historical information is available on our website.









Amounts may not add due to rounding.
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MASCO CORPORATION
Exhibit A: Reconciliations - Unaudited
For the Three Months Ended March 31, 2026 and 2025
(in millions, except per common share data)
Three Months Ended March 31,
 20262025
Income Per Common Share Reconciliations
Income before income taxes, as reported$291 $254 
Rationalization charges8 2 
Realized losses from private equity funds, net— 5 
Income before income taxes, as adjusted300 261 
Tax at 24.5% rate (73)(64)
Less: Net income attributable to noncontrolling interest15 12 
Net income, as adjusted$211 $184 
Net income per common share, as adjusted$1.04 $0.87 
Average diluted common shares outstanding204 213 


Outlook for the Year Ended December 31, 2026
Year Ended December 31, 2026
Low EndHigh End
Income Per Common Share Reconciliation
Net income per common share$3.91 $4.11 
Rationalization charges
0.19 0.19 
Net income per common share, as adjusted$4.10 $4.30 

Historical information is available on our website.
Amounts may not add due to rounding.
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MASCO CORPORATION
Condensed Consolidated Balance Sheets and Other Financial Data - Unaudited
March 31, 2026 and December 31, 2025
(dollars in millions)
March 31, 2026December 31, 2025
Balance Sheet  
Assets  
Current assets:  
Cash and cash investments$388 $647 
Receivables1,320 1,028 
Inventories1,068 1,046 
Prepaid expenses and other119 119 
Total current assets2,895 2,840 
Property and equipment, net1,183 1,195 
Goodwill618 623 
Other intangible assets, net198 205 
Operating lease right-of-use assets238 233 
Other assets100 105 
Total assets$5,233 $5,201 
Liabilities  
Current liabilities:  
Accounts payable$894 $810 
Notes payable129 2 
Accrued liabilities630 761 
Total current liabilities1,653 1,573 
Long-term debt2,945 2,945 
Noncurrent operating lease liabilities228 221 
Other liabilities380 387 
Total liabilities5,205 5,125 
Equity27 76 
Total liabilities and equity$5,233 $5,201 

 As of March 31,
20262025
Other Financial Data  
Working capital days  
Receivable days56 56 
Inventory days83 82 
Payable days68 69 
Working capital$1,494 $1,437 
Working capital as a % of sales (LTM)
19.5 %18.7 %

Historical information is available on our website.
Amounts may not add due to rounding.
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MASCO CORPORATION
Condensed Consolidated Statements of Cash Flows and Other Financial Data - Unaudited
For the Three Months Ended March 31, 2026 and 2025

(dollars in millions)
Three Months Ended March 31,
 20262025
Cash Flows From (For) Operating Activities:  
Cash provided by operating activities$289 $262 
Working capital changes(368)(419)
Net cash for operating activities(79)(158)
Cash Flows From (For) Financing Activities:  
Purchase of common stock(202)(130)
Cash dividends paid(65)(66)
Proceeds from revolving credit borrowings, net127 131 
Proceeds from the exercise of stock options18 2 
Employee withholding taxes paid on stock-based compensation(12)(8)
Debt financing costs(2)— 
Net cash for financing activities(137)(72)
Cash Flows From (For) Investing Activities:  
Capital expenditures(34)(32)
Other, net(2)— 
Net cash for investing activities(36)(33)
Effect of exchange rate changes on cash and cash investments(7)6 
Cash and Cash Investments:  
Decrease for the period(259)(257)
At January 1647 634 
At March 31$388 $377 
 
 As of March 31,
 20262025
Liquidity
Cash and cash investments$388 $377 
Revolver availability873 869 
Total Liquidity$1,261 $1,246 
 
Historical information is available on our website.


Amounts may not add due to rounding.
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MASCO CORPORATION
Segment Data - Unaudited
For the Three Months Ended March 31, 2026 and 2025
(dollars in millions)
Three Months Ended March 31,
 20262025Change
Plumbing Products   
Net sales$1,364 $1,246 9 %
Operating profit, as reported$243 $225 
Operating margin, as reported17.8 %18.1 %
Rationalization charges7 2 
Operating profit, as adjusted250 227 
Operating margin, as adjusted18.3 %18.2 %
Depreciation and amortization29 26 
EBITDA, as adjusted$279 $253 
Decorative Architectural Products
Net sales$554 $556 — %
Operating profit, as reported$104 $88 
Operating margin, as reported18.8 %15.8 %
Rationalization charges1 — 
Operating profit, as adjusted105 88 
Operating margin, as adjusted19.0 %15.8 %
Depreciation and amortization7 7 
EBITDA, as adjusted$112 $95 
Total
Net sales$1,918 $1,801 6 %
Operating profit, as reported - segment$348 $313 
General corporate expense, net(31)(27)
Operating profit, as reported316 286 
Operating margin, as reported16.5 %15.9 %
Rationalization charges - segment8 2 
Operating profit, as adjusted324 288 
Operating margin, as adjusted16.9 %16.0 %
Depreciation and amortization - segment36 33 
Depreciation and amortization - other2 2 
EBITDA, as adjusted$362 $322 

Historical information is available on our website.
Amounts may not add due to rounding.
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