Net sales for the quarter were down 3% from 2022, while net income attributable to Masonite dropped 18%.
The company reported that fiscal 4Q net sales were $1.2 Billion, up 9.1% YoY and up 8.6% on an organic basis.
Sales during the quarter were $428.0 million, a healthy increase over the $367.8 million reported during 2Q 2023.
Net sales in 2Q 2023 decreased 3.6% to $380.0 million, compared to $394.1 million in the prior-year quarter.
The company announced its 2Q earnings one day after saying it would be acquired by Clayton, Dubilier & Rice for $2.3B.
The year-over-year growth was down from the 19% reported during the company’s 2023 first quarter.
The company said that Aerospace/Defense sales were up 21.2%, while Industrial sales were up 4.7%.
Despite strong numbers from the company’s Patient Direct segment, overall sales increased just 2.5%.
The company reported its July sales figures, which showed net and daily sales were up 3.7% compared with the same period in 2022.
During the quarter, operating income more than tripled and adjusted EBITDA increased by $8.4 million, or nearly 27%.
It’s a big week for industrial manufacturer’s financial reports. We recap the key figures for four of them here.
NOW’s President and CEO said the distributor had the most profitable first half of the year since being a public company.
