Masco Corp. Q1 Profit Increases, beats estimates

(RTTNews) - Masco Corp. (MAS) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $233 million, or $0.97 per share. This compares with $94 million, or $0.34 per share, in last year's first quarter.

Excluding items, Masco Corp. reported adjusted earnings of $230 million or $0.95 per share for the period.

Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.7% to $2.20 billion from $1.97 billion last year.

Masco Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $233 Mln. vs. $94 Mln. last year. -EPS (Q1): $0.97 vs. $0.34 last year. -Analyst Estimate: $0.85 -Revenue (Q1): $2.20 Bln vs. $1.97 Bln last year.

-Guidance: Full year EPS guidance: Adj; $4.15 to $4.35