Latest News by Industry
![Masco Corp [MAS] reports annual net loss of $960.0 million](/_next/image?url=https%3A%2F%2F10kinfo-appdata.s3.us-west-2.amazonaws.com%2Fedgar0105%2FCompanyLogos%2FUS%2FMAS.png&w=1200&q=75)
MASCO CORP /DE/ [MAS] has reported a net loss of $960.0 million for year ended Dec 31, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $8.0 billion
Based in LIVONIA, Michigan, MASCO CORP /DE/ operates in the MANUFACTURING sector.
In the 12 months ended December 31, 2023, Masco Corporation reported net sales of $7,967 million, compared to $8,680 million in the same period in 2022 and $8,375 million in 2021. The cost of sales for the same periods was $5,131 million, $5,967 million, and $5,512 million, respectively.
Gross profit for 2023 stood at $2,836 million, while it was $2,713 million in 2022 and $2,863 million in 2021. Operating profit was $1,348 million in 2023, up from $1,297 million in 2022 and slightly lower than the $1,405 million reported in 2021.
Masco Corporation recorded a net income of $960 million in 2023, an increase from $905 million in 2022 and a significant rise compared to $478 million in 2021. The net income attributable to Masco Corporation for 2023 was $908 million, up from $844 million in 2022 and $410 million in 2021.
In terms of earnings per share, the basic net income per share for 2023 was $4.03, higher than $3.65 in 2022 and significantly improved from $1.63 in 2021. Similarly, the diluted net income per share for 2023 was $4.02, up from $3.63 in 2022 and $1.62 in 2021.
Overall, Masco Corporation demonstrated strong financial performance in 2023, with increases in net sales, gross profit, operating profit, net income, and earnings per share compared to the previous two years.
Also Read: