Deutsche Bank Reports Outperformance By Masco

According to Deutsche Bank, Masco MAS 1Q11 results featured a slight outperformance in sales but a headline miss in EPS due to weaker margins as well as higher than expected charges. Deutsche Bank said that strength in the top line was driven by the Plumbing and Other Specialty segments, while margins generally underperformed in all divisions except for Plumbing. “Reported EPS was -$0.13 versus our and consensus' -$0.03. The $0.10/share miss breaks down as follows: -$0.03 related to higher than expected charges, -$0.03 from lower margins and -$0.04 related to unusual taxes/other items.” Masco closed yesterday at $13.38.