Masonite 3Q Sales Increase 12%

Masonite's net income for 2022's third quarter was $57 million, a 51% increase over the same quarter in 2021.
On June 29, Masonite International Corporation — a Tampa, Florida-based manufacturer and distributor of internal and external doors — announced the opening of a new facility in Stoke-on-Trent, England.

Tampa, Florida-based door and door systems manufacturer Masonite International reported that 2022 third-quarter net sales increased 12% over the same quarter a year ago.

For 3Q 2022, Masonite reported $728 million in net sales and $57 million in net income attributable to the company. The net income was up 51% over the same period in 2021, Masonite said.

Diluted earnings per share rose 65% to $2.54.

“Our core North American Residential business continued to deliver outstanding results this quarter, allowing Masonite to achieve double digit net sales growth despite significant macroeconomic headwinds in our European segment,” said Howard Heckes, President and CEO. “The pending acquisition of Endura Products, a U.S. manufacturer of innovative door system components, will drive further momentum and fuel our Doors That Do More strategy. As we enter the fourth quarter, our teams remain focused on disciplined execution of our strategy and utilizing our Mvantage operating system to adapt to evolving end markets and deliver another year of revenue and earnings growth.”

 

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