NYSE$MBC
MasterBrand INC · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
MasterBrand's financial performance remained strong, with increased profitability despite a decrease in net sales.
MasterBrand reported a decrease in net sales but an increase in net income and adjusted EBITDA margin for the third quarter of 2023. The company is raising its adjusted EBITDA and related margin outlook for the full year 2023 based on stronger than expected performance in the third quarter of 2023.
- Net sales decreased 21.1% year-over-year to $677.3 million.
- Net income increased 14.4% year-over-year to $59.7 million.
- Adjusted EBITDA margin increased 153 basis points year-over-year to 16.2%.
- The company repurchased approximately 943 thousand shares of common stock for $11.5 million.
Headline financials
Revenue & EPS history
MasterBrand · Revenue · Quarterly
$677M
Forward guidance
The Company expects a net sales year-over-year decline of mid teens percentage in the fourth quarter of 2023. Adjusted EBITDA is expected to be in the range of $370 million to $380 million, with related adjusted EBITDA margins of roughly 13.5 to 14.0 percent for the full year 2023.
Tailwinds
- Continued operational excellence
- Strategic initiatives generating savings
- Further investments expected to yield incremental savings
- Raising adjusted EBITDA and related margin outlook for the full year 2023
- Stronger than expected performance in the third quarter of 2023
Headwinds
- Net sales year-over-year decline of mid teens percentage in the fourth quarter of 2023
- Softer end market demand expected in 2023
- Uncertainty in the housing market
- Worldwide economic and geopolitical conditions
- Potential unfavorable effects of the separation from Fortune Brands
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q3 2023
-0.6%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+1.3%
Avg return
30 days after
53%
9 / 17 earnings
Positive
+18.6%
Q1 2022
Best reaction
-15.9%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -8.2% | -14.0% | +0.2% | |
| Q4 2025 | -12.7% | -14.7% | -41.0% | |
| Q3 2025 | -14.4% | -15.4% | -11.8% | |
| Q1 2025 | -15.9% | -7.8% | -13.2% | |
| Q4 2024 | -5.9% | -9.4% | -17.7% | |
| Q3 2024 | +0.2% | -3.4% | -5.4% | |
| Q2 2024 | -4.4% | -4.1% | +0.8% | |
| Q1 2024 | -7.6% | -5.1% | -10.1% | |
| Q4 2021 | +8.0% | +14.6% | +21.3% | |
| Q4 2023 | +7.7% | +15.0% | +22.4% | |
| Q3 2022 | +1.7% | +4.1% | +24.7% | |
| Q3 2023 | +0.3% | +5.5% | +23.4% | |
| Q2 2022 | +5.0% | +0.0% | -1.8% | |
| Q2 2023 | +1.3% | +3.9% | -0.7% | |
| Q1 2022 | +18.6% | +24.3% | +23.8% | |
| Q1 2023 | +18.5% | +22.1% | +29.0% | |
| Q4 2022 | -2.8% | -6.0% | -22.2% | |
| Q3 2021 | — | — | — | |
| Q2 2021 | — | — | — | |
| Q1 2021 | — | — | — |
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