Masco Slashes FY18 Adj Earnings Outlook - Quick Facts

(RTTNews) - Masco Corp. (MAS) on Tuesday slashed its adjusted earnings guidance for fiscal 2018 to a range of $2.39 to $2.44 per share from the prior forecast range of $2.48 to $2.55 per share.

On average, 24 analysts polled by Thomson Reuters expect the company to earn $2.50 per share for the year. Analysts' estimates usually exclude special items.

The company also said it intends to deploy up to $300 million in share repurchases in the fourth quarter of this year.

For the third quarter, earnings increased to $0.58 per share from last year's $0.48 per share. Adjusted earnings were $0.65 per share, compared to $0.52 per share a year ago. Net sales increased 8 percent to $2.10 billion and increased 4 percent in local currency, excluding acquisitions, divestitures.