Masco Sees Fourth Quarter Losses

Masco Corporation had net sales $1.92 billion for the fourth quarter of fiscal 2022, down five per cent compared to net sales of $2.02 billion from the prior-year period. The North American segment had net sales of $1.5 million, a decline of five per cent versus $1.6 million, year-over-year. Earnings before interest and taxes was $173 million, a loss of 4.4 per cent compared to $181 million in the prior-year period. Gross margin decreased 230 basis points to 28.3 per cent from 30.6 per cent.