Masco Corporation · NYSE:MAS
Masco — Q3 2026 Earnings Presentation
25 slides from Masco's earnings presentation, Oct 28, 2026
Slide 1: Third Quarter 2026 Earnings Presentation
THIRD QUARTER 2026 EARNINGS PRESENTATION October 28, 2026
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains statements that reflect our views about our future performance and constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “outlook,” “believe,”
Slide 3: Agenda
Agenda SUMMARY Jon Nudi OF RESULTS President & CEO FINANCIAL / Rick Westenberg OPERATIONS VP, CFO & Treasurer REVIEW Q&A Jon Nudi & Rick Westenberg
Slide 4: Summary of Results
MASCO JON NUDI | Summary of Results
Slide 5: Advancing Our Strategy
Advancing Our Strategy Strengthening capabilities, partnerships and brands to drive long-term growth STRENGTHENING CAPABILITIES DEEPENING PARTNERSHIPS EXTENDING BRAND LEADERSHIP Executive Committee The Home Depot® Delta New Members 2026 Supplier Partnership Brand Distinctions Meeting Awards Brad Hir
Slide 6: Q3 2026 Review
Q3 2026 Review Top line increased 3%, or 4% excluding the impacts of our Bristan divestiture and unfavorable currency Grew adjusted gross margin 250 bps to 37.1% Expanded adjusted operating profit margin 160 bps to 17.9% Achieved adjusted EPS growth of 23% to $1.19 per share Returned $322 million to
Slide 7: Financial / Operations Review
RICK WESTENBERG Financial / Operations Review 7
Slide 8: Masco Corporation Quarter Highlights
Masco Corporation Quarter Highlights ($ in Millions, except EPS) Q3 2026 • Total company sales increased 3%, or 4% Revenue $1,966 excluding the impacts of our divestiture Y-O-Y Change 3% and unfavorable currency • In local currency, North American sales Operating Profit* $351 increased 5% Y-O-Y Chan
Slide 9: Plumbing Products Segment
Plumbing Products Segment Quarter Highlights ($ in Millions) Q3 2026 • Total segment sales increased 4%, or 5% excluding the impacts of our divestiture and Revenue $1,338 Y-O-Y Change 4% unfavorable currency • In local currency, North American sales Operating Profit* $256 increased 8% Y-O-Y Change $
Slide 10: Decorative Architectural Products Segment
Decorative Architectural Products Segment Quarter Highlights ($ in Millions) Q3 2026 • Total segment sales were flat compared Revenue $628 to the prior year YoY Change —% • PRO paint increased mid single digits Operating Profit* $126 • DIY paint decreased low single digits YoY Change $(1) • Operatin
Slide 11: Strong Balance Sheet
Strong Balance Sheet Masco Corporation Balance Sheet Metrics as of September 30, 2026 Cash and cash investments $610M Revolver availability $1,000M Total liquidity $1,610M Gross debt to EBITDA1 2.1x Working capital as a % of sales1 18.8% 1. See Appendix for reconciliation. 11
Slide 12: Full Year 2026 Outlook
Full Year 2026 Outlook 2026 Forecasted Adjusted EPS: $4.65 - $4.75 2026 Forecasted 2026 Forecasted Adjusted Business Segment Sales Change Operating Profit Margin Up Low Single Digits Plumbing Products ~20% (higher end of the range) Decorative Architectural Roughly Flat ~19.5% Products Total Masco Up
Slide 13: Q&A
JON NUDI RICK WESTENBERG Q&A 13
Slide 14: Appendix
Appendix 14
Slide 15: 2026 Assumptions
2026 Assumptions Item Assumption Tax rate 24.5% Rationalization charges ~$50M General corporate expense ~$120M Interest and other expense ~$115M Capital expenditures (includes maintenance capex of ~$75M) ~$175M Depreciation and amortization1 ~$155M Favorable foreign currency translation impact to sa
Slide 16: Capital Allocation Strategy
Capital Allocation Strategy Balanced Approach to Continue to Drive Shareholder Value • Capex: 2-2.5% of sales 1 Reinvest in the Business • Target working capital: ~16.5% of sales Maintain Investment Grade 2 Credit Rating • Target gross debt to EBITDA below 2.5x • Current annual dividend of $1.28 3 M
Slide 17: 2025 Segment Mix
2025 Segment Mix* Business Segment 2025 Revenue R&R%1 vs. NC2 NA%3 vs. Int’l4 79% Plumbing 84% 69% $5.2B 13% Products 16% 31% Total Company Geographic Revenue Split 2% Decorative 3% Architectural $2.4B 100% 100% 100% 3% Products North America China 89% 79% Total Company $7.6B Europe Other 11% 21% Un
Slide 18: 2025 Channel Mix as a Percentage of Sales
2025 Channel Mix* as a Percentage of Sales Plumbing Decorative Architectural Total Channel Products Products Masco Retail 20% 96% 45% Wholesale/trade/dealers 49% 3% 34% E-commerce 20% 1% 13% Specialty dealers/other 11% 0% 8% *Based on Company estimates and reflects the integration of Liberty Hardwar
Slide 19: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation contains both U.S. generally accepted accounted principles (“GAAP”) and certain non-GAAP financial measures. Reconciliations of these non‑GAAP measures to the most directly comparable GAAP measures are included in the following slides. We believe that ce
Slide 20: Profit Reconciliations – Third Quarter
Profit Reconciliations – Third Quarter ($ in Millions) Q3 2026 Q3 2025 Net sales $ 1,966 $ 1,917 Gross profit, as reported $ 720 $ 656 Rationalization charges 10 7 Gross profit, as adjusted $ 730 $ 663 Gross margin, as reported 36.6 % 34.2 % Gross margin, as adjusted 37.1 % 34.6 % Selling, general a
Slide 21: EPS Reconciliation – Third Quarter
EPS Reconciliation – Third Quarter ($ in Millions, Except per Common Share Data) Q3 2026 Q3 2025 Income before income taxes, as reported $ 322 $ 276 Rationalization charges 13 8 Gain on sale of business (1) (13) — Loss from financial investments, net 1 — Income before income taxes, as adjusted $ 323
Slide 22: EPS Outlook Reconciliation
EPS Outlook Reconciliation 2026 Low End High End Net income per common share $ 4.51 $ 4.61 Rationalization charges 0.19 0.19 Gain on sale of business (1) (0.05) (0.05) Net income per common share, as adjusted $ 4.65 $ 4.75 (1) Represents the gain from the sale of our Bristan Group business. Amounts
Slide 23: Gross Debt to EBITDA Reconciliation
Gross Debt to EBITDA Reconciliation ($ in Millions) September 30, 2026 Debt $ 3,247 ($ in Millions) TTM September 30, 2026 Operating profit, as reported $ 1,373 Rationalization charges 39 Impairment charge for other intangible assets 5 Operating profit, as adjusted $ 1,417 Depreciation and amortizat
Slide 24: Working Capital as a % of Sales
Working Capital as a % of Sales As Reported ($ in Millions) September 30, 2026 Receivables $ 1,254 Inventories 1,050 Less: Accounts payable (860) Working capital $ 1,444 Net sales (last 12 months) $ 7,668 Working capital as a % of sales 18.8 % Amounts may not add due to rounding. 24
Slide 25: Thank You
~ MASCO THANK YOU