Solid Q2 results for Masco

LIVONIA, Mich. — Masco Corp. posted Q2 earnings of $0.49 per share, an increase of 9% from the same period last year. Sales rose 3% to $2.1 billion, while operating profit increased by 7% to $357 million. Higher sales in plumbing, decorative architecture, and windows offset a decline in cabinetry sales. CEO and President Keith Allman said that in cabinetry, Masco “exited certain lower margin builder businesses” and is now on track for growth. The company repurchased 1.2 million shares during the quarter.