MasterBrand: Crafting A Comeback
MasterBrand is a leading North American cabinetry manufacturer, showing stable revenue growth despite FY23 challenges, and has improved margins through strategic initiatives and cost-saving measures. The acquisition of Supreme Cabinetry Brands enhances MBC's premium offerings and distribution, positioning it for growth as the housing market recovers due to Federal Reserve rate cuts. Management has increased the 2024 outlook, expecting a low single-digit YoY increase and adjusted EBITDA margin within 14.0% to 14.5%.
MasterBrand, Inc. (MBC) Q2 2024 Earnings Call Transcript
MasterBrand, Inc. (NYSE:MBC ) Q2 2024 Results Conference Call August 6, 2024 4:30 PM ET Company Participants Farand Pawlak - VP, IR, Treasury and Corporate Communications Dave Banyard - President, CEO Andi Simon - EVP, CFO Conference Call Participants Garik Shmois - Loop Capital Markets Adam Baumgarten - Zelman & Associates Tom Mahoney - Cleveland Research Operator Welcome back to MasterBrand's Second Quarter 2024 Earnings Conference Call. We appreciate your patience this afternoon following a brief severe weather delay due to a tornado warning in the Cleveland area.
MasterBrand Cabinets: Undervalued If The Market Stabilizes
MasterBrand Cabinets (MBC) stock price, similar to AMWD, is down double-digits since the early part of 2024. While Q1 sales were down sequentially and on a year-over-year basis, it does appear that their end-markets are seeing relatively stable demand on a go-forward basis. Should that condition hold, MBC has room for more upside, particularly if they can extract even a small amount of the announced synergies from their newly acquired Superior Cabinetry.
MasterBrand Completes Acquisition of Supreme Cabinetry Brands
BEACHWOOD, Ohio--(BUSINESS WIRE)--MasterBrand, Inc. (NYSE: MBC, the “Company,” or “MasterBrand”), through its subsidiary MasterBrand Cabinets LLC, today announced that it has completed its acquisition of Supreme Cabinetry Brands, Inc. (“Supreme”), a highly regarded cabinetry company, from GHK Capital Partners LP (“GHK”) for $520 million in cash. “Today is an important day as Supreme joins MasterBrand,” said Dave Banyard, President and Chief Executive Officer of MasterBrand. “The completion of t.
MasterBrand Launches Dealer Designer Council, Gains Customer Insights and Provides Community for Dealer Designers
BEACHWOOD, Ohio--(BUSINESS WIRE)--MasterBrand, Inc., (NYSE: MBC, the “Company,” or “MasterBrand”) the largest residential cabinet manufacturer in North America, recently launched the MasterBrand Dealer Designer Council. Comprised of nine industry insiders, this council will offer members an opportunity to share insights into the latest trends and the buying habits of consumers while gaining the support of a community of successful dealer designers with whom to collaborate. “We are thrilled to k.
MasterBrand, Inc. Announces Pricing of Previously Announced Offering of $700 million of Senior Notes due 2032
BEACHWOOD, Ohio--(BUSINESS WIRE)--MasterBrand, Inc. (NYSE: MBC, the “Company”) today announced that it has priced its previously announced notes offering (the “Offering”) and has agreed to issue and sell $700 million aggregate principal amount of 7.00% Senior Notes due 2032 (the “Notes”). The Notes are expected to settle on or around June 27, 2024, subject to customary closing conditions. The Notes will be the Company's unsecured and unsubordinated debt obligations and will be guaranteed, on a.
MasterBrand, Inc. Announces Intention to Offer $700 Million Senior Notes Due 2032
BEACHWOOD, Ohio--(BUSINESS WIRE)--MasterBrand, Inc. (NYSE: MBC, the “Company”) today announced that it intends, subject to market and other customary conditions, to offer (the “Offering”) $700 million aggregate principal amount of Senior Notes due 2032 (the “Notes”), to be issued by the Company and guaranteed on a senior unsecured basis by the subsidiaries that guarantee the Company's credit facility. The Company intends to use the net proceeds from the Offering, together with borrowings under.
MasterBrand Adds Catherine Courage to Board of Directors
BEACHWOOD, Ohio--(BUSINESS WIRE)--MasterBrand, Inc. (NYSE: MBC, the “Company,” or “MasterBrand”), the largest residential cabinet manufacturer in North America, today announced that Catherine Courage was appointed to the Company's Board of Directors effective as of June 6, 2024. “We are pleased to announce Catherine's appointment to our Board of Directors,” said Dave Banyard, President and Chief Executive Officer. “MasterBrand will benefit from Catherine's extensive background in technology and.
MasterBrand to Acquire Supreme Cabinetry Brands, a Manufacturer of Premier Cabinet Brands
BEACHWOOD, Ohio--(BUSINESS WIRE)--MasterBrand, Inc. (NYSE: MBC, the “Company,” or “MasterBrand”), through its subsidiary MasterBrand Cabinets, LLC, has agreed to acquire Supreme Cabinetry Brands, Inc. (“Supreme”), a highly regarded cabinetry company, from GHK Capital Partners LP (“GHK”) for $520 million in cash. Pre-synergies, the purchase price represents a multiple of approximately 8.9x Supreme's adjusted EBITDA1 for the twelve months ending March 31, 2024, inclusive of $25 million net presen.
