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Second Quarter 2026 Earnings Presentation July 29, 2026
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2 Safe Harbor Statement This presentation contains statements that reflect our views about our future performance and constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “outlook,” “believe,” “anticipate,” “appear,” “may,” “will,” “should,” “intend,” “plan,” “estimate,” “expect,” “assume,” “seek,” “forecast,” and similar references to future periods. Our views about future performance involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. We caution you against relying on any of these forward-looking statements. Our future performance may be affected by the levels of residential repair and remodel activity, and to a lesser extent, new home construction, our ability to maintain our strong brands, to develop innovative products and respond to changing consumer purchasing practices and preferences, our ability to maintain our public image and reputation, our ability to maintain our competitive position in our industries, our reliance on key customers, the cost and availability of materials, our dependence on suppliers and service providers, extreme weather events and changes in climate, risks associated with our international operations and global strategies, the impact on demand, pricing and product costs resulting from tariffs, our ability to achieve the anticipated benefits of our strategic initiatives, our ability to successfully execute our acquisition strategy and integrate businesses that we have acquired and may in the future acquire, our ability to attract, develop and retain a talented workforce, risks associated with cybersecurity vulnerabilities, threats and attacks and risks associated with our reliance on information systems and technology. These and other factors are discussed in detail in Item 1A. "Risk Factors" in our most recent Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and in other filings we make with the Securities and Exchange Commission. Any forward-looking statement made by us speaks only as of the date on which it was made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Unless required by law, we undertake no obligation to update publicly any forward-looking statements as a result of new information, future events or otherwise.
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3 Agenda 1 Summary of Results Jon Nudi 2 Financial / Operations Review Rick Westenberg 3 Q&A Jon Nudi Rick Westenberg
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4 1 Summary of Results Jon Nudi
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5 Q2 2026 New Products and Recognitions Delta LineaxTM Bath Collection Brizo FaircroftTM Kitchen Collection - New Unlacquered Brass Finish Newport Brass Pardees® Kitchen Collection 5th Straight Year
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6 Q2 2026 Review Top line decreased 3% Adjusted gross margin increased to 43.8% Returned $454M to shareholders through dividends and share repurchases 6 Delivered adjusted EPS of $1.64 per share, an increase of 26% Adjusted operating profit grew 17% and operating margin expanded to 24.2% For adjusted numbers, see Appendix for GAAP reconciliation. 6 6 6 Increased anticipated full year adjusted EPS to $4.40-$4.60 per share, up from $4.10-$4.30
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2 Financial / Operations Review Rick Westenberg 7
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8 Masco Corporation *As adjusted, see Appendix for GAAP reconciliation. Quarter Highlights 8 • Total company sales decreased 3%; currency had a minimal impact • In local currency, North American sales decreased 5% and was impacted by strategic investments • In local currency, International sales increased 4% • Operating profit driven by ~$95M net tariff refund benefit, pricing actions and cost savings initiatives, partially offset by lower volume and higher tariff, commodity, and employee-related costs ($ in Millions, except EPS) Second Quarter 2026 Revenue Y-O-Y Change $1,992 (3)% Operating Profit* Y-O-Y Change $482 $69 Operating Margin* Y-O-Y Change 24.2% 410 bps EPS* Y-O-Y Change $1.64 26%
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9 Plumbing Products Segment Quarter Highlights 9 • Total segment sales decreased 3%; currency had a minimal impact • In local currency, North American sales decreased 6% and was impacted by strategic investments • In local currency, International sales increased 4% • Operating profit driven by net tariff refund benefit, pricing actions, and cost savings initiatives, partially offset by lower volume, and higher tariff, commodity, and employee- related costs * As adjusted and excludes business rationalization charges for the second quarter of 2026 and 2025 of $9 million and $2 million, respectively. ($ in Millions) Second Quarter 2026 Revenue Y-O-Y Change $1,337 (3)% Operating Profit* Y-O-Y Change $361 $75 Operating Margin* Y-O-Y Change 27.0% 620 bps
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10 Decorative Architectural Products Segment Quarter Highlights 10 • Total segment sales decreased 4% • PRO paint increased mid-single digits • DIY paint decreased high single digits and was impacted by the customer transition of our primer and applicator business • Operating profit driven by cost savings initiatives and increased pricing, partially offset by lower volume and higher commodity costs ($ in Millions) Second Quarter 2026 Revenue Y-O-Y Change $655 (4)% Operating Profit* Y-O-Y Change $148 $1 Operating Margin* Y-O-Y Change 22.6% 100 bps * As adjusted and excludes business rationalization charges for the second quarter of 2026 of $1 million.
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11 Strong Balance Sheet Masco Corporation 1. See Appendix for reconciliation. Balance Sheet Metrics as of June 30, 2026 Cash and cash investments $548M Revolver availability $1,000M Total liquidity $1,548M Gross debt to EBITDA1 2.1x Working capital as a % of sales1 19.8% 11
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12 Full Year 2026 Outlook 2026 Forecasted Adjusted EPS $4.40 - $4.60, up from our previous guidance of $4.10 - $4.30 12 12 April Earnings Call ~18% ~17% ~19%
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13 3 Q&A Jon Nudi Rick Westenberg
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14 Appendix
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15 1 Plumbing Products segment ~$125m; Decorative Architectural Products segment ~$30m; Non-operating ~$5m. 2 Based on rates as of June 30, 2026. Item Assumption Tax rate 24.5% Rationalization charges ~$50M General corporate expense ~$120M Interest and other expense ~$115M Capital expenditures (includes maintenance capex of ~$75m) ~$190M Depreciation and amortization1 ~$160M Favorable foreign currency translation impact to sales2 ~$30M Share repurchase or acquisitions ~$1B Average diluted share count for 2026 ~200M Working capital as a % of net sales ~16.5% Free cash flow conversion ~95% 2026 Assumptions
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16 Capital Allocation Strategy Reinvest in the Business • Capex: 2-2.5% of sales • Target working capital: ~16.5% of sales1 Maintain investment grade credit rating • Target gross debt to EBITDA below 2.5x2 Maintain relevant dividend • Target dividend payout ratio of ~30% • Current expected annual dividend of $1.28 (subject to future Board declarations)3 Deploy excess free cash flow to share repurchase or acquisitions • Consistently in the market for share repurchase, but opportunistic • Expect to deploy ~$1 billion for share repurchases or acquisitions in 2026 • Actively cultivating our M&A pipeline 4 Balanced Approach to Continue to Drive Shareholder Value
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17 17 LONG-TERM OUTLOOK Average annual sales growth • Organic: ~3-4% • Continuing to pursue bolt on acquisitions Operating profit margin • Expand margins through cost productivity and volume leverage Capital deployment • Share buybacks: ~2-4% EPS growth • Dividends: ~1-2% return on top of EPS growth Average annual EPS growth • ~10% Market-leading brands, history of innovation, customer focus Low ticket, repair and remodel products provide growth and stability through an economic cycle Strong free cash flow and value creating capital allocation
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18 2025 Segment Mix* *Based on Company estimates. Business Segment 2025 Revenue R&R% vs. NC NA% v. Int’l Total Geographic Revenue Split Plumbing Products $5.2B 84% 69% Decorative Architectural Products $2.4B 100% 100% Total Company $7.6B 89% 79% R&R = % of sales to repair and remodel channels NC = % of sales to new construction channels NA = % of sales within North America Int’l = % of sales outside North America
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19 2025 Channel Mix* *Based on Company estimates. 2025 Channel Mix as a Percentage of Sales Channel Plumbing Products Decorative Architectural Products Total Masco Retail 20% 96% 45% Wholesale/Trade/Dealer 49% 3% 34% E-commerce 20% 1% 13% Specialty Dealer/Other 11% 0% 8%
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20 Non-GAAP Financial Measures This presentation contains both U.S. generally accepted accounted principles (“GAAP”) and certain non-GAAP financial measures. R e c o n c i l i a t i o n s o f t h e s e n o n - G A A P m e a s u r e s t o t h e m o s t d i r e c t l y c o m p a r a b l e G A A P m e a s u r e s a r e i n c l u d e d i n t h e f o l l o w i n g s l i d e s . We believe that certain non-GAAP financial measures used in managing the business may provide users of this financial information with additional meaningful comparisons between current results and results in prior periods. These non-GAAP financial measures should be considered in addition to, and not as an alternative for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies.
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21 Profit Reconciliations – Second Quarter Amounts may not add due to rounding. ($ in Millions) Q2 2026 Q2 2025 Net sales $ 1,992 $ 2,051 Gross profit, as reported $ 868 $ 772 Rationalization charges 5 1 Gross profit, as adjusted $ 872 $ 774 Gross margin, as reported 43.6 % 37.6 % Gross margin, as adjusted 43.8 % 37.7 % Selling, general and administrative expenses, as reported $ 397 $ 361 Rationalization charges 7 1 Selling, general and administrative expenses, as adjusted $ 390 $ 360 Selling, general and administrative expenses as a percent of net sales, as reported 19.9 % 17.6 % Selling, general and administrative expenses as a percent of net sales, as adjusted 19.6 % 17.6 % Operating profit, as reported $ 470 $ 412 Rationalization charges 12 2 Operating profit, as adjusted $ 482 $ 413 Operating margin, as reported 23.6 % 20.1 % Operating margin, as adjusted 24.2 % 20.1 %
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22 EPS Reconciliation – Second Quarter Amounts may not add due to rounding. ($ in Millions, Except per Common Share Data) Q2 2026 Q2 2025 Income before income taxes, as reported $ 440 $ 378 Rationalization charges 12 2 Income before income taxes, as adjusted $ 452 $ 380 Tax at 24.5% rate (111) (93) Less: Net income attributable to noncontrolling interest 15 13 Net income, as adjusted $ 326 $ 274 Net income per common share, as adjusted $ 1.64 $ 1.30 Average diluted common shares outstanding 199 211
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23 EPS Outlook Reconciliation 2026 Low End High End Net income per common share $ 4.21 $ 4.41 Rationalization charges 0.19 0.19 Net income per common share, as adjusted $ 4.40 $ 4.60 Amounts may not add due to rounding.
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24 Gross Debt to EBITDA Reconciliation Amounts may not add due to rounding. ($ in Millions) June 30, 2026 Debt $ 3,247 ($ in Millions) TTM June 30, 2026 Operating profit, as reported $ 1,337 Rationalization charges 35 Impairment charge for other intangible assets 5 Operating profit, as adjusted $ 1,377 Depreciation and amortization 152 EBITDA, as adjusted $ 1,529 Debt to EBITDA 2.1 x
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25 Working Capital as a % of Sales Amounts may not add due to rounding. As Reported ($ in Millions) June 30, 2026 Receivables $ 1,342 Inventories 1,060 Less: Accounts payable (890) Working capital $ 1,512 Net sales (last 12 months) $ 7,620 Working capital as a % of sales 19.8 %