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European markets are starting to moderate, modest slowdown in incoming orders.
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2022 Q3
3 Jan 23
Copper and zinc have come off, their highs from earlier in the year, but I would remind everyone it takes a couple quarters for that that benefit to flow through and hit our P&L.
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2022 Q3
2 Jan 23
Most categories saw this decline across channel.
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2022 Q3
2 Jan 23
we now expect 2022 sales growth to be in the range of 1% to 2%, including foreign currency, versus our previous guidance of 3% to 5%.
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2022 Q3
2 Jan 23
Additionally, our Board authorized a new $2 billion share repurchase program effective October 20, 2022, replacing the existing authorization. This action underscores Masco's strong financial position and our Board's confidence in Masco's future. We do not expect further share repurchases this year as we will use our free cash flow to repay the balance of the $500 million term loan that we took out in the second quarter.
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2022 Q3
2 Jan 23
Because of these dynamics, we are lowering our earnings per share expectation for the year to $3.70 to $3.80, from our previous expectation of $4.15 to $4.25
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2022 Q3
2 Jan 23
These operational costs include higher than expected freight and material costs due to persistent inflation, as well as production and absorption inefficiencies associated with changing volume levels.
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2022 Q3
2 Jan 23
we anticipate this slowdown to continue into the fourth quarter
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2022 Q3
2 Jan 23
incoming orders slowed more than expected
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2022 Q3
2 Jan 23
Our spa business and international plumbing delivered positive volumes for the quarter. International plumbing sales were led by strong growth in China as we continue to gain shar
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2022 Q3
2 Jan 23
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