UPDATE: Masco Q4 Earnings Top Views

Masco Corp. MAS reported stronger-than-expected earnings for the fourth quarter. The Taylor, Michigan-based company posted quarterly earnings of $100 million, or $0.28 per share. Excluding non-recurring items, the company earned $0.24 per share. Its net sales from continuing operations rose 3% to $2.1 billion. However, analysts were expecting earnings of $0.20 per share on revenue of $2.09 billion. North American sales gained 4%. International sales slipped 2% in US dollars, but gained 6% in local currency. Plumbing Products' net sales rose 1% in the quarter, while Decorative Architectural Products' net sales climbed 7%. Cabinets and Related Products' net sales slipped 3%, while Installation and Other Services' net sales climbed 7%. Gross margins widened to 27.7% from 27.1%, while operating margin rose to 9.8% from 7.7%. Masco's President and CEO, Keith Allman said, "Our portfolio of industry-leading plumbing businesses continues to perform, delivering increased revenue and profit growth, which resulted in a record sales year for both Delta Faucet and Hansgrohe. New products and program wins at Behr Process and Liberty Hardware drove the performance of our Decorative Architectural segment, and our Installation and Other Services segment capitalized on the housing recovery and ongoing growth of its commercial business." Masco shares rose 1.80% to close at $26.05 on Friday.