Masco Corporation, the US-based parent company of KBB brands including Bristan and Hansgrohe, has reported a 6% year-on-year drop in net sales for the first quarter of 2025, citing the impact of "new and broad-reaching tariffs" as a key factor.
© Masco
Keith Allman, Masco Corporation CEO.
The company's Q1 net sales fell to $1.801 billion (approximately £1.355 billion), down from $1.926 billion in the same period last year. Gross profit also dropped by 6% to $644 million, while pre-tax profits declined by around 12%, from $289 million in Q1 2024 to $254 million in 2025.
North American sales were down 7%, although international sales remained stable. Despite the challenging environment, Masco delivered an adjusted operating profit margin of 16.0% and earnings per share of $0.87. The company also returned $196 million to shareholders through dividends and share repurchases.
President and CEO Keith Allman pointed to the broader economic climate as a contributing factor: 'We also experienced significant changes in the geopolitical and macroeconomic environment, including the enactment of new and broad-reaching tariffs.' He noted that Masco's teams are working to offset increased costs through pricing strategies, cost-saving initiatives, and sourcing adjustments.
Due to ongoing market volatility, Masco has opted not to issue full-year financial guidance. Allman added, 'We are focused on responding rapidly to the shifting economic landscape and believe our market leading brands, service levels, and innovative repair and remodel-oriented product portfolio best position Masco to continue to deliver long-term shareholder value.'
Masco closed 2024 with only a 2% decline in net sales, demonstrating relative resilience amid industry-wide challenges.
Source: www.kbbreview.com