Manufacturer and distributor Masonite (NYSE: DOOR) said its 2022 first-quarter net sales rose 12% over the same period last year to $726 million.
The company said net income attributable to Masonite in the latest quarter was up 44% year-over-year to $68 million. Adjusted EBITDA was up 22% to $125 million.
Net income rose 43.8% to $68 million.
“Masonite is off to a great start in 2022, delivering quarterly net sales and Adjusted EBITDA* growth that exceeded our expectations,” said Howard Heckes, president and CEO. “I am proud of our execution in driving price-cost recovery across all our business segments and increasing production for our North American Residential segment following the Omicron spike in January. While the longer-term macro environment presents some uncertainty, we have an experienced team in place that is focused on carefully managing business performance and executing on our Doors That Do Mor Strategy. I believe Masonite is well positioned in the current environment and making significant progress towards achieving our 2025 Centennial Plan^ financial goals.”