Masco's (MAS) Kichler Lighting Revamps Its Product Portfolio
Masco Corporation’s MAS subsidiary company, Kichler Lighting LLC, recently upgraded its Decorative Exterior Lighting collections, portraying product innovation initiatives.
The upgrade is incorporated within the new product launches by the collection, which embraces the luxury essence of modern and updated traditional lifestyle trends without the performance and functionality being compromised.
The revamped Decorative Exterior Lighting collections incorporate nine different collection sets, including Mathus, Kroft, Regence, Branner, Brix, Hone, Talman, Nocar, and Camillo. Products under these sets are available in Textured Black or Olde Bronze finishes along with several sizes to cater to the varied needs of customers.
Product Innovation Boosting Growth
Masco persistently focuses on expanding its product portfolio through accretive investments in innovation. By leveraging its brand image in the market, accompanied by its diversified brand portfolio, the company positions itself in this uncertain market to gain growth momentum. Its popular brands include Behr paint, Delta and Hansgrohe faucets, bath and shower fixtures, Kichler decorative and outdoor lighting, and Hot Spring spas.
In the first nine months of 2023, the company secured additional shelf space in adjacent product categories, launched new products and invested in the PRO paint business, thus portraying the strength of the Behr brand. The company plans to increase investment in people and capabilities in 2023.
During third-quarter 2023 earnings call, Masco stated that its innovation pipeline, new products and leading channel positions have facilitated its strong share gain momentum for the upcoming quarters.
Share Price Performance
Thanks to the aforementioned innovation tailwinds, shares of this manufacturer, seller and installer of home improvement and building products have gained 13% in the past three months, outperforming the Zacks Building Products - Miscellaneous industry’s 10.6% growth.
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Adding to the uptrend, the earnings estimates for 2023 and 2024 have increased in the past 30 days to $3.73 per share and $3.99 per share, respectively. Although the year-over-year growth rate for 2023 earnings estimates showcases a 1.1% decline, the 2024 earnings estimates portray 6.9% growth. Solidifying this growth prospect, the company holds a VGM Score of A, backed by a Value Score of B and a Growth Score of A. The positive trend signifies bullish analysts’ sentiments, robust fundamentals and the continuation of an outperformance in the near term.
Zacks Rank & Key Picks
Masco currently carries a Zacks Rank #3 (Hold).
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The Zacks Consensus Estimate for MPTI’s 2023 sales and EPS indicates growth of 30.6% and 156.7%, respectively, from the previous year.
Willdan Group, Inc. WLDN currently sports a Zacks Rank of 1. WLDN delivered a trailing four-quarter earnings surprise of a whopping 850.6%, on average. The stock has gained 36.9% in the past year.
The Zacks Consensus Estimate for WLDN’s 2023 sales and EPS indicates growth of 14.1% and 47.7%, respectively, from a year ago.
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