Quarterly ResultMay 6, 2026, 11:32 AM
MasterBrand Q1 Net Loss $(15.4)M; Sales Down 6.4%
AI Summary
MasterBrand, Inc. reported a net loss of $(15.4)M for the first quarter of 2026, a significant downturn from a net income of $13.3M in the prior year period. Net sales declined by 6.4% to $618.0M, and the company recorded an operating loss of $(18.5)M. The company also amended its debt covenants and continues to progress with the American Woodmark merger, which is expected to close in the second calendar quarter of 2026.
Key Highlights
- Net loss was $(15.4)M for Q1 2026, compared to net income of $13.3M in Q1 2025.
- Net sales decreased by 6.4% to $618.0M for Q1 2026 from $660.3M in Q1 2025.
- Operating loss was $(18.5)M for Q1 2026, a significant decline from operating income of $37.1M in Q1 2025.
- Basic loss per common share was $(0.12) for Q1 2026, down from earnings of $0.10 in Q1 2025.
- Restructuring charges increased to $12.8M in Q1 2026 from $4.7M in Q1 2025.
- Net cash used in operating activities increased to $(133.0)M in Q1 2026 from $(31.4)M in Q1 2025.
- The American Woodmark merger is expected to close in Q2 2026, pending FTC clearance.
- Debt covenants were amended on March 26, 2026, adjusting net leverage and interest coverage ratios.
Price Impact
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