Masonite Saw Sales Increase in First Quarter

May 9th, 2018 by Editor

Masonite reported this week that net sales increased 6 percent to $518 million in the first quarter of 2018, up from $487 million in the same period in 2017.

“We are pleased with the higher margins we delivered in the first quarter versus the first quarter last year as we offset higher raw material inflation through a combination of price and productivity actions,” said Fred Lynch, Masonite’s president and CEO. “While harsh winter conditions in both North America and the U.K. created a slow start to the year, we experienced positive momentum through the quarter and into April.”

The company said increased volume in its North American residential segment and from recent acquisitions was offset by lower volume in its architectural and European-base businesses.

North American residential net sales were $360 million, a 6 percent increase over the first quarter of 2017. Europe net sales were $87 million, a 24 percent increase from the first quarter of 2017. Architectural net sales were $67 million, a 7 percent decrease from the first quarter of 2017.

Total company gross profit increased 10 percent to $105 million in the first quarter of 2018 compared to $96 million in the first quarter of 2017.

Tags: ,

Leave Comment

X
This site uses cookies which allow us to give you the best browsing experience possible. Cookies are files stored in your browser and are used by most websites to help personalize your web experience. By continuing to use our website, you are agreeing to our use of cookies. To find out more, please see our Privacy Policy.