NYSE$MBC
MasterBrand INC · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
MasterBrand reported a solid quarter with net sales at the high-end of internal expectations, achieving its fifth consecutive quarter of year-over-year adjusted EBITDA margin expansion despite market headwinds.
MasterBrand reported Q4 2023 net sales of $677.1 million, a 14% decrease year-over-year, but net income increased 134% year-over-year to $36.1 million. The adjusted EBITDA margin increased 20 basis points year-over-year to 12.7%.
- Net sales decreased 14% year-over-year to $677.1 million due to lower volumes.
- Net income increased 134% year-over-year to $36.1 million due to higher operating income.
- Gross profit margin increased 550 basis points to 32.9% due to savings from strategic initiatives.
- Adjusted EBITDA margin increased 20 basis points to 12.7%.
Headline financials
Revenue & EPS history
MasterBrand · Revenue · Quarterly
$677M
Forward guidance
For full year 2024, the Company expects net sales to decline low single-digit percentage to flat, adjusted EBITDA in the range of $370 million to $400 million, with related adjusted EBITDA margins of roughly 14.0 to 14.5 percent and Adjusted EPS in the range of $1.40 to $1.60.
Tailwinds
- Net sales performance to be in line with the underlying market demand.
- Initiatives designed to gain share to more than offset trade down and continued soft market demand.
- The ability to flex manufacturing, due to the success of the common box initiative.
- Further execution on strategic initiatives.
- Continuous improvement efforts should allow for flat to slightly higher full year adjusted EBITDA margins.
Headwinds
- Net sales year-over-year decline of low single-digit percentage to flat
- Adjusted EBITDA in the range of $370 million to $400 million
- Adjusted EBITDA margins of roughly 14.0 to 14.5 percent
- Adjusted EPS in the range of $1.40 to $1.60
- Continued soft market demand
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 Q4 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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