Masco Corp., a large home improvement and building products company based in Livonia, today reported 2017 revenue was $7.6 billion, up four percent from 2016.
During the same annual periods, operating profit grew 11 percent to $1.2 million, and adjusted operating profit grew 9 percent to $1.2 million.
Operating profit margin and adjusted operating profit margin increased to 15.3 percent, a 100 basis point expansion and a 70 basis point expansion, respectively. Free cash flow was $564 million.
“We had another good year in 2017 as we continued to execute against the long-term growth and capital allocation strategies that we established in 2015,” says Keith Allman, Masco’s president and CEO.
“As we look towards 2018, we believe we are well positioned to drive profitable growth and create shareholder value by continuing to execute on our strategies,” continues Allman. “The fundamentals of our industry remain strong, and with the momentum we have across our segments, the anticipated benefits of the recent tax reform legislation, and the expected accretion of our two acquisitions, we anticipate our adjusted earnings per share to be in the range of $2.48 to $2.63 for 2018.”
Masco owns brands including Behr paint, Delta faucets, KraftMaid cabinets, and Hot Springs spas.