Masco Shares Punished After Earnings Miss, But Our Long-Term Outlook Remains Unchanged
The third quarter of 2016 marked the 20th consecutive quarter in which Masco generated both top- and bottom-line growth; however, the narrow moat-rated home improvement and building supply company missed consensus sales and earnings estimates by 2% and 6%, respectively, and Masco shares closed down nearly 10% on Oct. 25. The earnings miss was primarily due to a $21 million ($0.04 per share) warranty charge the firm’s windows segment took during the quarter. Despite the miss, we believe Masco rem...Masco designs, manufactures and distributes home improvement and building products. The company's Plumbing Products include faucets, showerheads, handheld showers, valves, bath hardware and accessories, bathing units, shower bases and enclosures and toilets. This segment also includes brass, copper and composite plumbing system components and other non-decorative plumbing products. The company's Decorative Architectural Products include cabinet and door hardware, functional hardware, wall plates, hook and hook rail products, and picture hanging accessories. This segment also includes decorative indoor and outdoor lighting fixtures, ceiling fans, landscape lighting and LED lighting systems.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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