Maskot/DigitalVision via Getty Images Summary Following my coverage on Masco Corp. ( MAS ) in Sep'25, in which I recommended a hold rating given that DIY remained weak and there was no sign of recovery, this post is to provide an update on my thoughts on the business and stock. For this update, I reiterate my hold rating. Plumbing growth was healthy, margins expanded, and management is doing a goo...
Maskot/DigitalVision via Getty Images Summary Following my coverage on Masco Corp. ( MAS ) in Sep'25, in which I recommended a hold rating given that DIY remained weak and there was no sign of recovery, this post is to provide an update on my thoughts on the business and stock. For this update, I reiterate my hold rating. Plumbing growth was healthy, margins expanded, and management is doing a good job with pricing and cost savings. That said, the core issue has not gone away. DIY is still weak, and commodity cost inflation could pressure margins later this year. Hence, I am keeping my neutral view on MAS. Q1 2026 Earnings Review MAS results for Q1 were decent. Net sales grew 6% y/y to ~$1.92 billion, or 4% in local currency. The stronger segment was Plumbing Products. Sales increased 9% y/y, or 7% in local currency, with pricing contributing 6% and volume being slightly positive. The Decorative Architectural Products segment was more mixed. Sales were basically flat y/y, and within the segment, PRO paint sales grew mid-single digits, while DIY paint sales were down by a low-single-digit percentage. All in all, gross margin expanded 10 bps to 36%, and with SG&A as a percentage of sales down 80 bps, adj. EBIT grew 13% to $324 million, and adj. EBIT margin expanded 90 bps to 16.9%. By segment, Plumbing Products saw EBIT of $250 million, while Decorative Architectural Products saw EBIT of $105 million. Together, adj. EPS grew 20% to $1.04. Plumbing And Margin The traction MAS has seen in the Plumbing segment was very encouraging. Not only has pricing power stayed strong, volume has also started to recover. Management even said this was MAS's strongest Q1 volume performance since the end of the pandemic. I also like that the Plumbing growth was not concentrated in one place. North America grew 9% in local currency, and Delta Faucet (MAS's core U.S. plumbing business) grew across all channels (trade, retail, and e-commerce). Watkins Wellness (not really plumbing, but mor...
Tourists to the Cook Islands — a South Pacific chain of islands and atolls famed for its clear lagoons and white-sand beaches — are being asked to curb air conditioning and conserve energy as the nation tries to stretch fuel supplies and protect essential services. Visitors and households should set air-conditioners to 25C (77F), switch them off when they leave the room, unplug appliances at the w...
Tourists to the Cook Islands — a South Pacific chain of islands and atolls famed for its clear lagoons and white-sand beaches — are being asked to curb air conditioning and conserve energy as the nation tries to stretch fuel supplies and protect essential services. Visitors and households should set air-conditioners to 25C (77F), switch them off when they leave the room, unplug appliances at the wall and opt for walking, cycling or carpooling for short trips, according to a government statement this week. Like many Pacific island nations, the Cooks rely heavily on imported diesel to generate electricity, leaving them especially exposed in a fuel crunch that has disrupted shipments. The Cooks — a self-governing state, which is part of the realm of New Zealand — said that while its next fuel shipments are due in the coming weeks, it is taking steps now to manage limited supplies, contain costs and protect critical infrastructure. “What we are asking from every household, every business and every visitor is simple, please use a little less,” Prime Minister Mark Brown said. “Every kilowatt of electricity and every liter of fuel we save now means stronger reserves for our schools, hospitals, water supply and essential services.” Read more: Iran War Fuel Shock Triggers Emergency in Tiny Pacific Nation Tourism accounts for almost 70% of the Cooks’ gross domestic product, with about 150,000 visitors each year far outnumbering the resident population of roughly 15,000. Temperatures can reach 28C in April and May, making cooling a significant draw on electricity. Businesses and tourism operators are being asked to review lighting and refrigeration as well as air-conditioning settings, and to stagger high-energy operations away from peak times where possible. Still, Cook Islands Tourism Chief Executive Karla Eggleton said the destination remains open and prepared. “We know visitors and operators want to do their bit while they are here and during this period, and we are workin...
Earnings Call Insights: Brixmor Property Group (BRX) Q1 2026 Management view "We grew same-property NOI 6.4% over last year and delivered $0.58 per share in FFO...which is also reflected in our improved outlook for the year." (CEO, President & Director Brian Finnegan) "We are operating in a period of heightened uncertainty. Geopolitical tensions and capital markets volatility are real, and we are ...
Earnings Call Insights: Brixmor Property Group (BRX) Q1 2026 Management view "We grew same-property NOI 6.4% over last year and delivered $0.58 per share in FFO...which is also reflected in our improved outlook for the year." (CEO, President & Director Brian Finnegan) "We are operating in a period of heightened uncertainty. Geopolitical tensions and capital markets volatility are real, and we are monitoring them." (CEO Finnegan) "We executed 1.3 million square feet of new and renewal leases at a blended cash spread of 27%, with new lease spreads at 42% and record renewal growth of 21%." (CEO Finnegan) "Our leasing activity during the quarter also increased our signed but not commenced pipeline to $67 million, up 10% year-over-year." (CEO Finnegan) "We stabilized $78 million of projects at a 9% average incremental return" and "adding a record 6 new projects at an attractive 16% incremental return." (CEO Finnegan) "We increased our same-property NOI growth guidance to 4.75% to 5.5% and our FFO guidance to $2.34 to $2.37 per share." (Executive VP, CFO & Treasurer Steven Gallagher) Outlook "We increased our same-property NOI growth guidance to 4.75% to 5.5% and our FFO guidance to $2.34 to $2.37 per share." (CFO Gallagher) "We expect base rent contribution to growth will accelerate as the year progresses" and "we continue to expect revenues deemed uncollectible of 75 to 100 basis points of total revenues." (CFO Gallagher) "We do expect overall occupancy headwinds in the second quarter due to a handful of anticipated box recaptures, [and] we expect to return to a growth trajectory in the second half of the year." (CEO Finnegan) Prior-quarter context on guidance language shifted toward a higher same-property NOI floor: in Q4, management said, "We're guiding to 4.5% to 5.5% same-property NOI growth" and introduced "Nareit FFO guidance of $2.33 to $2.37 per share." (CFO Gallagher) Financial results "First quarter same-property NOI increased 6.4%" and "NAREIT FFO was $0.58 p...
As SpaceX moves closer toward its landmark initial public offering (IPO), two members of the "Magnificent Seven" stand to witness sharply divergent outcomes. Alphabet 's (NASDAQ: GOOGL) (NASDAQ: GOOG) early investment in SpaceX is poised to deliver a generous paper gain, while Nvidia (NASDAQ: NVDA) is quietly positioned to secure sustained growth from the very hardware and artificial intelligence ...
As SpaceX moves closer toward its landmark initial public offering (IPO), two members of the "Magnificent Seven" stand to witness sharply divergent outcomes. Alphabet 's (NASDAQ: GOOGL) (NASDAQ: GOOG) early investment in SpaceX is poised to deliver a generous paper gain, while Nvidia (NASDAQ: NVDA) is quietly positioned to secure sustained growth from the very hardware and artificial intelligence (AI) infrastructure that the company must scale following its public listing. Let's explore how both AI giants are connected with SpaceX and assess which one is better positioned for the space race in the long run. Continue reading
(RTTNews) - The China stock market turned lower again on Tuesday, one day after ending the two-day slide in which it had slipped more than 25 points or 0.6 percent. The Shanghai Composite Index now sits just beneath the 4,080-point plateau and it figures to open in the red again
(RTTNews) - The China stock market turned lower again on Tuesday, one day after ending the two-day slide in which it had slipped more than 25 points or 0.6 percent. The Shanghai Composite Index now sits just beneath the 4,080-point plateau and it figures to open in the red again
Comedian Joe Rogan is pushing back on the growing idea that extreme wealth should be capped, arguing that the same obsessive drive people criticize is what builds the modern world. “A lot of these people that run these corporations are...
Comedian Joe Rogan is pushing back on the growing idea that extreme wealth should be capped, arguing that the same obsessive drive people criticize is what builds the modern world. “A lot of these people that run these corporations are...
The economic divide between the United States and China is projected to widen to US$11 trillion by the end of the decade, yet escalating geopolitics – specifically the war in Iran and the ongoing Strait of Hormuz crisis – could inadvertently act as a stabilising force for bilateral ties, according to a prominent global strategist. Kishore Mahbubani, former president of the UN Security Council and ...
The economic divide between the United States and China is projected to widen to US$11 trillion by the end of the decade, yet escalating geopolitics – specifically the war in Iran and the ongoing Strait of Hormuz crisis – could inadvertently act as a stabilising force for bilateral ties, according to a prominent global strategist. Kishore Mahbubani, former president of the UN Security Council and once a top diplomat from Singapore, has forecast that the gross-domestic-product disparity between...
A 14-year-old Chinese boy who reportedly “handcrafted” turbo engines in his home living room has sparked a heated social media discussion about his background. Teenager Che Jingang, from southern China’s Hainan Island, came under the spotlight after several state media outlets reported him as a self-taught engineer. Che, who has a social media account run by his mother with 30,000 followers, said ...
A 14-year-old Chinese boy who reportedly “handcrafted” turbo engines in his home living room has sparked a heated social media discussion about his background. Teenager Che Jingang, from southern China’s Hainan Island, came under the spotlight after several state media outlets reported him as a self-taught engineer. Che, who has a social media account run by his mother with 30,000 followers, said he is enthusiastic about “everything that flies” and this passion led him down a path of...