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Commentary: Market Continues to Show Signs of Slowdown

Growth decelerated 80 basis points versus last quarters Baird survey.

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October 25, 2019

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Masonite $100M share repurchase agreement

Tampa Bay-based Masonite International Corporation (NYSE: DOOR), a manufacturer and distributor of interior and exterior doors, announced it has entered into an accelerated share repurchase agreement with Morgan Stanley & Co. LLC. to repurchase an aggregate of $100 million of the company’s outstanding common shares.

Words such as “softening demand,” “sluggish,” and “margin pressure” peppered the most recent Baird Industrial Distribution Survey results, conducted quarterly in partnership with MDM. While revenue is still growing (2.4% year-over-year in Q3), distributors have, for months, been reflecting their concerns about the potential for an economic slowdown at the end of this year or into 2020. Indeed, growth decelerated 80 basis points versus last quarter’s survey, and fell below respondents’ 3.1% forecast. 

Broken down by industry, key themes in the industrial sector include slightly lower revenue…

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