View Presentation (PDF 729 KB) - Masco Corporation
View Presentation (PDF 729 KB) - Masco Corporation
View Presentation (PDF 729 KB) - Masco Corporation
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Cabinets and Related Products<br />
Financial Performance Q2 2011<br />
($ in Millions)<br />
2 nd QTR<br />
3 Months Ended<br />
6/30/11<br />
vs.<br />
6/30/10<br />
6/30/2011 6/30/2010 $ %<br />
Net Sales $330 $400 $(70) (18%)<br />
Operating (Loss) Profit* $(21) $6 $(27) N/A<br />
Operating Margin (6.4%) 1.5%<br />
Decremental Margin (39%)<br />
Commentary<br />
Brands<br />
Excluding sales related to planned product<br />
exits, sales were down ~6%<br />
Margins impacted by:<br />
−Volume<br />
−Under-absorption of fixed costs<br />
−Unfavorable price/commodity relationship<br />
−Increased promotional costs<br />
®<br />
*Excludes business rationalization charges of $6M & $43M in the second quarter of 2011 & 2010, respectively.<br />
See Analyst Package for GAAP reconciliation.<br />
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