Masco Corporation (NYSE:MAS) Q4 2022 Earnings Call Transcript

Keith Hughes: Thank you. I just want to go back on the guidance in Plumbing. You highlighted some several things that have done well, particularly the spa business. They’re coming off some big numbers. But is there any other detail you could give us? The decline you’re forecasting is greater than your — equal to or greater than your decline in remodel that you’re assuming. What else is going on there?

Keith Allman: I think John touched on this a little bit earlier, Keith, is the — if you think about our paint business, that adjusted volume-wise, kind of midyear. The Plumbing business was a little bit later to do that. So, I think that’s a combination of larger backlogs, bigger projects that tended not to flex so much. So, I think that carryover helps to account for a little bit more of a volume reduction guide on Plumbing than we have on paint.

Keith Hughes: And will it be all the same cadence you talked about earlier, or will the decline be more ratably during the year based on your forecast?

John Sznewajs: I think, Keith, it would be kind of the same — similar cadence that we described earlier, where a little bit more impact in the first part of the year, given the stronger comps that we’re up against, and then we get into easier comps in the back half of the year.

Keith Hughes: Okay. Thank you.

David Chaika: I’d like to thank all of you for joining us on the call this morning and for your interest in Masco. This concludes today’s call.

Operator: Thank you, everyone, for joining us today. The call has now concluded, and you may disconnect your lines.