Masco Sales Flat

Masco Corporation had sales of $2,204 million for the third quarter of 2022, flat with sales in the third quarter of 2021. In local currency, sales increased three per cent year over year. North American sales increased two per cent and international sales decreased nine per cent. In local currency, North American sales increased three per cent and international sales increased five per cent. Plumbing products’ net sales were flat to prior year third quarter and decorative architectural products’ net sales increased one per cent compared to the 2021 quarter. The company’s gross margin for the quarter decreased 270 basis points to 31.5 per cent from 34.2 per cent in the prior-year quarter and operating profit decreased nine per cent to $351 million from $385 million.