MasterBrand Inc ( (MBC) ) has released its Q3 earnings. Here is a breakdown of the information MasterBrand Inc presented to its investors.
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MasterBrand Inc. is the leading manufacturer of residential cabinets in North America, specializing in a broad array of cabinetry products for kitchens, bathrooms, and other home areas. The company maintains a robust distribution network and employs over 13,000 individuals across more than 20 facilities.
In its third quarter of 2024, MasterBrand Inc. reported a 6% increase in net sales year-over-year, reaching $718.1 million. Despite this growth, the company experienced a decline in net income to $29.1 million from $59.7 million the previous year, attributed to acquisition-related costs and other expenses.
Key financial highlights include a slight decrease in adjusted EBITDA to $104.5 million and a decline in the adjusted EBITDA margin by 160 basis points to 14.6%. MasterBrand continues to focus on integrating its recent acquisition, Supreme Cabinetry Brands, which contributed significantly to its sales growth.
The company reiterates its financial outlook for 2024, expecting a low single-digit percentage increase in net sales and adjusted EBITDA ranging between $385 million and $405 million. The management remains optimistic about its growth strategies and ability to deliver strong returns for shareholders in varying market conditions.