Masco Corp. Q2 Profit Decreases, but beats estimates

(RTTNews) - Masco Corp. (MAS) announced earnings for second quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $263 million, or $1.16 per share. This compares with $278 million, or $1.18 per share, in last year's second quarter.

Excluding items, Masco Corp. reported adjusted earnings of $270 million or $1.19 per share for the period.

Analysts on average had expected the company to earn $0.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.4% to $2.13 billion from $2.35 billion last year.

Masco Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $263 Mln. vs. $278 Mln. last year. -EPS (Q2): $1.16 vs. $1.18 last year. -Analyst Estimates: $0.96 -Revenue (Q2): $2.13 Bln vs. $2.35 Bln last year.

-Guidance: Full year EPS guidance: $3.50 – $3.65