AI English summary of an SEC filing — figures as filed
Masco MASMasco said net sales for 2024 were $7,828 million, a decrease of 2% compared to 2023. Excluding acquisitions, divestitures and the effect of currency translation, net sales decreased 1%.
Key points
AI summaryMasco said net sales for 2024 were $7,828 million, a decrease of 2% compared to 2023. Excluding acquisitions, divestitures and the effect of currency translation, net sales decreased 1%.
Masco said gross profit for 2024 was $2,831 million, which remained flat compared to 2023, and operating profit was $1,363 million, which increased 1%. The company cited the non-recurrence of an impairment charge for other intangible assets in 2023 that did not recur in 2024 as a factor in the operating profit increase.
The company said it sold its Kichler business in Q3 2024 for net consideration of $125 million, subject to final closing adjustments. Other income (expense), net included a loss on the sale of Kichler of $88 million, inclusive of costs to sell.
Masco repurchased and retired 10.0 million shares of its common stock for retirement in 2024 for approximately $757 million, inclusive of excise tax of $6 million. Total cash dividends paid in 2024 were $254 million, and as of December 31, 2024, the company had $896 million remaining under the 2022 authorization.
Key figures
Fiscal year ended December 31, 2024
- Revenue
- $7.8B
- Operating income
- $1.4B
- Net income
- $822M
- EPS
- $3.76
- Gross profit
- $2.8B
- Operating cash flow
- $1.1B
From the XBRL financial data filed with the SEC · not processed by AI.
Summary
AI-writtenAnalysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.
2024 Net Sales $7,828 million, Down 2%
Masco said net sales for 2024 were $7,828 million, a decrease of 2% compared to 2023. Excluding acquisitions, divestitures and the effect of currency translation, net sales decreased 1%.
Source · Based on the MD&A text of the filing
Gross Profit $2,831 million, Operating Profit $1,363 million
Masco said gross profit for 2024 was $2,831 million, which remained flat compared to 2023, and operating profit was $1,363 million, which increased 1%. The company cited the non-recurrence of an impairment charge for other intangible assets in 2023 that did not recur in 2024 as a factor in the operating profit increase.
Source · Based on the MD&A text of the filing
Kichler Disposition, Loss on Sale $88 million
The company said it sold its Kichler business in Q3 2024 for net consideration of $125 million, subject to final closing adjustments. Other income (expense), net included a loss on the sale of Kichler of $88 million, inclusive of costs to sell.
Source · Based on the MD&A text of the filing
2024 Share Repurchases Approximately $757 million, Dividends $254 million
Masco repurchased and retired 10.0 million shares of its common stock for retirement in 2024 for approximately $757 million, inclusive of excise tax of $6 million. Total cash dividends paid in 2024 were $254 million, and as of December 31, 2024, the company had $896 million remaining under the 2022 authorization.
Source · Based on the MD&A text of the filing
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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