U.S. Markets open in 4 hrs 5 mins

Masco: 1Q Earnings Snapshot

LIVONIA, Mich. (AP) _ Masco Corp. (MAS) on Thursday reported first-quarter profit of $116 million.

On a per-share basis, the Livonia, Michigan-based company said it had net income of 39 cents. Earnings, adjusted for one-time gains and costs, came to 44 cents per share.

The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The maker of Behr paint, Delta faucets and other building products posted revenue of $1.91 billion in the period, also falling short of Street forecasts. Eight analysts surveyed by Zacks expected $2 billion.

Masco expects full-year earnings in the range of $2.60 to $2.80 per share.

Masco shares have increased 37 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 17 percent.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MAS at https://www.zacks.com/ap/MAS