Masco Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Masco Corp. (MAS) released a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $205 million, or $0.90 per share. This compares with $233 million, or $0.97 per share, in last year's first quarter.

Excluding items, Masco Corp. reported adjusted earnings of $198 million or $0.87 per share for the period.

Analysts on average had expected the company to earn $0.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 10.0% to $1.98 billion from $2.20 billion last year.

Masco Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $205 Mln. vs. $233 Mln. last year. -EPS (Q1): $0.90 vs. $0.97 last year. -Analyst Estimates: $0.63 -Revenue (Q1): $1.98 Bln vs. $2.20 Bln last year.

-Guidance: Full year EPS guidance: $3.10 – $3.40