MASONITE INTERNATIONAL Reports Second Quarter Earnings for FY2023

🌥️Earnings Overview

MASONITE INTERNATIONAL ($NYSE:DOOR) announced their earnings report for the quarter ending June 30, 2023. Revenues for the period totaled USD 741.9 million, a 2.6% decline from the same quarter of last year. Net income decreased 17.6%, coming in at USD 48.2 million.

Stock Price

The company opened at $103.1 and closed at $101.8, a drop of 2.6% from the previous closing price of $104.5. This decline in stock price came despite the company’s strong performance during the quarter. Analysts are generally positive about the company’s performance during the quarter.

They believe that although the stock price decline is concerning, it is likely due to market conditions and not due to any weakness within the business. They are also optimistic about MASONITE INTERNATIONAL‘s future prospects and believe that the company’s strong financial performance and increased dividend will be beneficial for long-term shareholders. Live Quote…

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Masonite International. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Masonite International. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Masonite International. More…

Key Ratios Snapshot

Some of the financial key ratios for Masonite International are shown below. More…

Analysis

At GoodWhale, we conducted a thorough analysis of MASONITE INTERNATIONAL‘s fundamentals. Our Risk Rating indicated that MASONITE INTERNATIONAL is of medium risk in terms of both financial and business aspects. Our users can view the risks associated with this company by logging into their GoodWhale account. We detected 2 risk warnings in the income statement and balance sheet. We advise our users to remain cautious in evaluating this company and to keep up with their analysis to ensure that they are making a well-informed decision. More…

Peers

Masonite International Corp is one of the world’s largest manufacturers of interior and exterior doors. The company operates in North America, Europe, Asia, and South America. Its competitors include Sanwa Holdings Corp, JELD-WEN Holding Inc, and Caesarstone Ltd.

– Sanwa Holdings Corp ($TSE:5929)

Sanwa Holdings Corporation is a Japanese financial services holding company headquartered in Osaka. The company provides a wide range of financial services including banking, securities, insurance, and leasing. Sanwa is one of the largest banks in Japan in terms of assets and deposits. It also has a strong presence in the securities industry. The company’s return on equity was 10.49% as of 2022.

– JELD-WEN Holding Inc ($NYSE:JELD)

JELD-WEN Holding Inc is a leading international manufacturer and marketer of doors and windows. The company operates in three segments: North America, Europe, and Asia Pacific. JELD-WEN Holding Inc has a market capitalization of 917.59M as of 2022 and a return on equity of 15.81%. The company has a diversified product portfolio that includes interior and exterior doors, windows, and millwork products. JELD-WEN Holding Inc is headquartered in Charlotte, North Carolina, USA.

– Caesarstone Ltd ($NASDAQ:CSTE)

Caesarstone Ltd is a manufacturer of quality engineered quartz surfaces. Its market cap as of 2022 is 245.66M. Its ROE is 1.93%. The company has a wide range of colors and styles to choose from and has a reputation for quality and durability.

Summary

Masonite International reported their earnings results for the second quarter of FY2023 which ended on June 30, 2023. The company’s total revenue saw a slight decrease of 2.6% compared to the same period in the prior year. Net income also decreased by 17.6%, amounting to USD 48.2 million.

This quarter is not great news for investors, as the company’s earnings have declined from the same period last year. Investors should carefully consider the company’s current performance and potential future growth before investing.