Masco (MAS) official guidance

With our ASR and the benefit from the tariff refunds, we now expect to deploy approximately $1 billion towards share repurchases or acquisitions in 2026, up from our previous expectation of at least $800 million.

As a result, we now expect to deploy at least $800 million towards share repurchases or acquisitions in 2026, up from our previous expectation of approximately $600 million.

Fourth, deploy our remaining available free cash flow, which we expect to be approximately $600 million in 2026, towards share repurchases or value-accretive acquisitions.

This continues to assume a 200 million average diluted share count for the year and a 24.5% effective tax rate.

This now assumes a 200 million average diluted share count for the year versus our previous guide of 202 million shares and a 24.5% effective tax rate.

This assumes a 202 million average diluted share count for the year and a 24.5% effective tax rate, which is consistent with our 2025 effective tax rate.

This continues to assume a 200 million average diluted share count for the year and a 24.5% effective tax rate.

This now assumes a 200 million average diluted share count for the year versus our previous guide of 202 million shares and a 24.5% effective tax rate.

This assumes a 202 million average diluted share count for the year and a 24.5% effective tax rate, which is consistent with our 2025 effective tax rate.

Expect 2026 earnings per share in the range of $4.51 - $4.61 per share, and on an adjusted basis, $4.65 - $4.75 per share

With our strong first half performance and the benefit of the net tariff refund impact, which represents an estimated $85 million for the full year, we are raising our 2026 earnings per share guidance to $4.40-$4.60 from our prior range of $4.10-$4.30.

Expect 2026 earnings per share in the range of $4.21 - $4.41 per share, and on an adjusted basis, $4.40 - $4.60 per share

Therefore, we believe it is prudent to maintain our 2026 earnings per share guidance in the range of $4.10-$4.30 per share.

Maintaining 2026 earnings per share guidance in the range of $3.91 - $4.11 per share, and on an adjusted basis, $4.10 - $4.30 per share

Based on our expected operating performance and capital deployment strategy, we anticipate earnings per share for 2026 to be in the range of $4.10-$4.30 per share.

Expect 2026 earnings per share in the range of $3.91 - $4.11 per share, and on an adjusted basis, $4.10 - $4.30 per share

In our Decorative Architectural segment, we continue to expect 2026 sales to be roughly flat with the prior year and our operating margin to be approximately 19% with a continued focus on cost savings initiatives.

In our Decorative Architectural segment, we continue to expect 2026 sales to be roughly flat with the prior year and our operating margin to be approximately 19% with a continued focus on cost savings initiatives.

We expect plumbing margins, inclusive of the Liberty Hardware business integration, to be approximately 18% and decorative margins to be approximately 19%, resulting in a Masco operating margin of approximately 17%.

In our Plumbing segment, we continue to expect 2026 full year sales to be up low single digits and now expect our operating margin to expand to approximately 20%, up from our previous guidance of 18%, driven by the net tariff refund benefit, pricing discipline, operational efficiencies, and continued cost savings initiatives.

In our Plumbing segment, we continue to expect 2026 full year sales to be up low-single-digits and our operating margin to expand to approximately 18%, driven by pricing discipline, operational efficiencies, and continued cost savings initiatives.

We expect plumbing margins, inclusive of the Liberty Hardware business integration, to be approximately 18% and decorative margins to be approximately 19%, resulting in a Masco operating margin of approximately 17%.

For Masco overall, we continue to expect 2026 sales to be up low single digits and now expect our operating margin to expand to approximately 18%, up from our previous guidance of approximately 17%.

For Masco overall, we expect 2026 sales to be up low-single-digits versus our previous guide of flat to up low-single-digits, and we continue to expect our margins to expand to approximately 17%.

We expect plumbing margins, inclusive of the Liberty Hardware business integration, to be approximately 18% and decorative margins to be approximately 19%, resulting in a Masco operating margin of approximately 17%.

In our Decorative Architectural segment, we continue to expect 2026 sales to be roughly flat with the prior year and our operating margin to be approximately 19% with a continued focus on cost savings initiatives.

In our Decorative Architectural segment, we continue to expect 2026 sales to be roughly flat with the prior year and our operating margin to be approximately 19% with a continued focus on cost savings initiatives.

In our decorative architectural segment, we expect 2026 sales to be roughly flat with the prior year.

Overall, our paint sales remain largely in line with our expectations, and we continue to anticipate full-year pro paint sales to increase mid-single digits and DIY paint sales to decrease mid-single digits.

These results were largely in line with our expectations, and we continue to anticipate full-year pro paint sales to increase mid-single digits and for DIY paint sales to decrease mid-single digits.

We expect our Pro paint business will increase mid-single digits, and our DIY paint business will decrease mid-single digits.

In our Plumbing segment, we continue to expect 2026 full year sales to be up low single digits and now expect our operating margin to expand to approximately 20%, up from our previous guidance of 18%, driven by the net tariff refund benefit, pricing discipline, operational efficiencies, and continued cost savings initiatives.

In our Plumbing segment, we continue to expect 2026 full year sales to be up low-single-digits and our operating margin to expand to approximately 18%, driven by pricing discipline, operational efficiencies, and continued cost savings initiatives.

In our plumbing segment, we expect 2026 full year sales to be up low single digits.

Overall, our paint sales remain largely in line with our expectations, and we continue to anticipate full-year pro paint sales to increase mid-single digits and DIY paint sales to decrease mid-single digits.

These results were largely in line with our expectations, and we continue to anticipate full-year pro paint sales to increase mid-single digits and for DIY paint sales to decrease mid-single digits.

We expect our Pro paint business will increase mid-single digits, and our DIY paint business will decrease mid-single digits.

Consistent with our prior guidance, we continue to expect that our sales will be up low single digits for 2026, and that commodities will remain elevated in the back half of the year.

Our guidance includes our expectation that our sales will now be up low-single digits for 2026, but that we will also incur higher than previously anticipated commodity costs.

Our expectation for our own sales in 2026 is to be flat to up low single digits.

With our strong first half performance and the benefit of the net tariff refund impact, which represents an estimated $85 million for the full year, we are raising our 2026 earnings per share guidance to $4.40-$4.60 from our prior range of $4.10-$4.30.

However, we continue to anticipate working capital as a percent of sales will be approximately 16.5% at the end of the year.

However, we continue to anticipate working capital as a percent of sales will be approximately 16.5% at the end of the year.

We anticipate working capital as a percent of sales will be approximately 16.5% in 2026.

Expect 2026 earnings per share in the range of $4.21 - $4.41 per share, and on an adjusted basis, $4.40 - $4.60 per share

Maintaining 2026 earnings per share guidance in the range of $3.91 - $4.11 per share, and on an adjusted basis, $4.10 - $4.30 per share

Expect 2026 earnings per share in the range of $3.91 - $4.11 per share, and on an adjusted basis, $4.10 - $4.30 per share