Masco Raises 2022 Adj. Earnings Guidance

(RTTNews) - While reporting first-quarter results on Wednesday, Masco Corp. (MAS) said it now anticipates adjusted earnings per share for 2022 to be in the range of $4.15 to $4.35 per share, increased from the company's previous expectation of $4.10 to $4.30 per share.

For the first quarter, the company's earnings totaled $233 million, or $0.97 per share compared with $94 million, or $0.34 per share, prior year. Excluding items, Masco Corp. reported adjusted earnings of $230 million or $0.95 per share for the period. Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.7% to $2.20 billion from $1.97 billion last year.