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Masco Corporation Announces Date for First Quarter Earnings Release and Provides Business Update

·4 mins read

Masco Corporation (NYSE: MAS) will hold a conference call regarding 2020 first quarter results on Wednesday, April 29, 2020 at 8:00 a.m. ET. Participants in the call are asked to register five to ten minutes prior to the scheduled start time by dialing (855) 226-2726 (855-22MASCO) and from outside the U.S. at (706) 679-3614. Please use the conference identification number 2137448.

During these unprecedented times, Masco is focused and aligned on three priorities:

  • First and foremost, ensuring the safety and well-being of our employees and their families

  • Maintaining business operations, where permitted, with all applicable safety practices to protect our employees while supporting the critical needs of our consumers and our customers

  • Identifying and enacting expense reductions to adjust our cost structure to address market conditions

"With our repositioned portfolio of lower ticket, more resilient products, we believe we are well-positioned to face this challenging time," commented Masco President and CEO Keith Allman. "We have a strong balance sheet and liquidity, including full availability on our $1.0 billion revolving credit facility, and we are taking the necessary actions to protect our employees and position Masco to succeed in the future."

Given the considerable uncertainty around future results due to the impact of COVID-19, the Company is withdrawing both its 2020 and 2021 guidance. The Company will provide more details on its earnings conference call on April 29th.

Conference Call Details

The 2020 first quarter results and supplemental material will be distributed at 7:00 a.m. ET on April 29, 2020 and will be available on the Company’s website at www.masco.com.

The conference call will be webcast simultaneously and in its entirety through the Masco Corporation website. Shareholders, media representatives and others interested in Masco may participate in the webcast by registering through the Investor Relations section on the Company’s website.

A replay of the call will be available on Masco’s website or by phone by dialing (855) 859-2056 and from outside the U.S. at (404) 537-3406. Please use the conference identification number 2137448. The telephone replay will be available approximately two hours after the end of the call and continue through May 29, 2020.

About Masco

Headquartered in Livonia, Michigan, Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Our portfolio of industry-leading brands includes Behr® paint; Delta® and Hansgrohe® faucets, bath and shower fixtures; Kichler® decorative and outdoor lighting; and HotSpring® spas. We leverage our powerful brands across product categories, sales channels and geographies to create value for our customers and shareholders. For more information about Masco Corporation, visit www.masco.com.

Safe Harbor

This press release contains statements that reflect our views about our future performance and constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "outlook," "believe," "anticipate," "appear," "may," "will," "should," "intend," "plan," "estimate," "expect," "assume," "seek," "forecast," and similar references to future periods. Our views about future performance involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. We caution you against relying on any of these forward-looking statements.

Our future performance may be affected by the levels of residential repair and remodel activity and new home construction, our ability to maintain our strong brands and reputation and to develop innovative products, our ability to maintain our competitive position in our industries, our reliance on key customers, the length and severity of the ongoing COVID-19 pandemic, including its impact on domestic and international economic activity, consumer demand for our products, our production capabilities, our employees and our supply chain, the cost and availability of materials and the imposition of tariffs, our dependence on third-party suppliers, risks associated with our international operations and global strategies, our ability to achieve the anticipated benefits of our strategic initiatives, our ability to successfully execute our acquisition strategy and integrate businesses that we have and may acquire, our ability to attract, develop and retain talented personnel, risks associated with our reliance on information systems and technology, and our ability to achieve the anticipated benefits from our investments in new technology. These and other factors are discussed in detail in Item 1A "Risk Factors" in our most recent Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and in other filings we make with the Securities and Exchange Commission Report. Any forward-looking statement made by us speaks only as of the date on which it was made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Unless required by law, we undertake no obligation to update publicly any forward-looking statements as a result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200408005107/en/

Contacts

David Chaika
Vice President, Treasurer and Investor Relations
313.792.5500
david_chaika@mascohq.com