Masco Q1 sales decrease

Masco Corporation had net sales of $1,926 million in the first quarter of 2024, a decrease of three percent compared to net sales of $1,979 million in the first quarter of 2023. In local currency and excluding acquisitions, net sales decreased four percent. Net sales for the Plumbing Products segment decreased two percent year over year and net sales for the Decorative Architectural Products segment decreased three percent. The company’s overall gross margin for the quarter was 35.6 percent, up 180 basis points from 33.8 percent in the prior-year quarter. Net income was $229 million for the quarter, up from $221 million last year.