Operating profit increased 10% to $316 million, while operating margin expanded 60 basis points to 16.5%. On an adjusted basis, operating profit rose 13% to $324 million, with adjusted operating margin reaching 16.9%.

Earnings per share increased to $1.05 from $0.87 in the prior year, while adjusted earnings per share grew 20% to $1.04. The company also returned $267 million to shareholders through dividends and share repurchases during the quarter. 

“We delivered strong first quarter operating results in an extremely dynamic environment,” said Jon Nudi, president and CEO. “We posted sales growth of 6 percent, adjusted operating profit growth of 13 percent, and adjusted earnings per share growth of 20 percent during the quarter. Additionally, our capital allocation strategy enabled us to return $267 million to shareholders through dividends and share repurchases.” 

Nudi said the company is maintaining its full-year outlook, citing ongoing macroeconomic and geopolitical uncertainty.

“With our industry leading brands, consumer-focused product portfolio, strong balance sheet, and disciplined capital allocation, we believe Masco is well positioned to continue to deliver long-term shareholder value,” he said. 

Masco reported liquidity of $1.261 billion at the end of the quarter. The company also repurchased 3.1 million shares for $202 million during the period.

The company continues to expect full-year earnings per share in the range of $3.91 to $4.11, and adjusted earnings per share between $4.10 and $4.30.

Masco’s portfolio includes brands across home improvement and building products, including Behr Paint, along with plumbing fixtures, decorative hardware and other construction-related products. The company’s decorative architectural segment, which includes coatings-related products, remained in line with the prior year during the quarter.