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MASMasco

Industrials · Plumbing & Heating · NYSE

Masco Corporation and its subsidiaries (the “Company”) is a global leader in the design, manufacture and distribution of branded home improvement and building products. 10-K, Item 1

Employees
18,000
Headquarters
Livonia, MI
Next results
around Feb 9, 2027
Compare with peers → Embed

What MAS's management wrote with each quarter's results: the press release (8-K item 2.02, exhibit 99) and, when the company files them, its prepared remarks or the call transcript. The call itself is not filed with SEC, so most quarters have the release only.

Adjusted vs GAAP earnings per share

in the company's own words

In its release of 2026-10-28, MAS reported $1.17 per share under GAAP and $1.19 on its own adjusted basis: the adjusted number is +2% above GAAP.

The company's words, latest release
Earnings per share were $1.17 release
Earnings per share were $1.17; adjusted earnings per share grew 23 percent to $1.19 per share release

Both numbers are read from the words of each release (usually the highlights), never computed by us; hover a number for its sentence. Quarters where the release gives them only in a table are not shown. The company decides what "adjusted" leaves out; the full reconciliation is in the release.

Press release Oct 28, 2026 · EX-99

MASCO CORPORATION REPORTS THIRD QUARTER 2026 RESULTS

Open on SEC ↗

• Net sales increased 3 percent to $1,966 million; net sales increased 4 percent excluding our divestiture and currency

• Operating profit margin was 17.2 percent; adjusted operating profit margin was 17.9 percent

• Earnings per share were $1.17; adjusted earnings per share grew 23 percent to $1.19 per share

• 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

Masco Corporation (NYSE: MAS), one of the world’s leading manufacturers of branded home improvement and building products, reported its third quarter 2026 results.

• Net sales increased 3 percent to $1,966 million; in local currency and excluding our divestiture of Bristan, net sales increased 4 percent

◦ Plumbing Products’ net sales increased 4 percent; in local currency and excluding our divestiture, net sales increased 5 percent

◦ In local currency, International net sales decreased 5 percent and excluding our divestiture, decreased 1 percent

• Compared to the third quarter 2025, results for key financial measures, as adjusted for certain items (see Exhibit A) and applying a normalized tax rate of 24.5 percent, were as follows:

• Liquidity at the end of the third quarter was $1,610 million (including availability under our revolving credit facility)

“Our strong third quarter results reflect the strength of our teams, the disciplined execution of our strategy, and the resilience of our business,” said Masco’s President and CEO, Jon Nudi. “We are executing well against our strategy, delivering above-market growth and building momentum throughout the organization. In the third quarter, net sales increased 3 percent, or 4 percent excluding the impacts of our divestiture and currency, adjusted operating margin expanded 160 basis points to 17.9 percent, and adjusted earnings per share grew 23 percent. In addition, we returned $322 million to shareholders through dividends and share repurchases, demonstrating the strength of our cash flow generation and our ongoing commitment to disciplined capital allocation and shareholder value creation.”

“Based on the strength of our operational performance year-to-date, we now expect adjusted earnings per share to be in the range of $4.65 to $4.75, compared to our previous guidance range of $4.40 to $4.60,” continued Nudi. “While we expect the demand environment to remain challenged in the near term, the long-term fundamentals of the repair and remodel market remain strong, and we are executing well. We remain confident in our ability to leverage the power of our industry-leading brands, to expand our commercial capabilities and to drive operational excellence to create long-term shareholder value.” 1

Masco’s Board of Directors declared a quarterly dividend of $0.32 per share, payable on November 23, 2026 to shareholders of record on November 6, 2026.

Headquartered in Livonia, Michigan, Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products. Our portfolio of industry leading brands includes Behr ® paint; Delta ® and hansgrohe ® faucets, bath and shower fixtures; Liberty ® branded decorative and functional hardware; and HotSpring ® spas. We leverage our powerful brands across product categories, sales channels and geographies to create value for our customers and shareholders. For more information about Masco Corporation, visit www.masco.com.

The 2026 third quarter supplemental material, including a presentation in PDF format, is available on the Company’s website at www.masco.com.

A conference call regarding items contained in this release is scheduled for Wednesday, October 28, 2026 at 8:00 a.m. ET. Participants in the call are asked to register five to ten minutes prior to the scheduled start time by dialing 585-542-9983 or 833-461-5787. Please use the meeting identification number 284633590.

The conference call will be webcast simultaneously and in its entirety through the Company’s website. Shareholders, media representatives and others interested in Masco may participate in the webcast by registering through the Investor Relations section on the Company’s website.

A replay of the call will be available on Masco’s website or by phone by dialing 929-828-5978 or 833-309-1852. Please enter the meeting identification number 284633590#. The telephone replay will be available approximately two hours after the end of the call and remain available until November 27, 2026.

This press release contains statements that reflect our views about our future performance and constitute “forward-looking statements” under the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “outlook,” “believe,” “anticipate,” “appear,” “may,” “will,” “should,” “intend,” “plan,” “estimate,” “expect,” “assume,” “seek,” “forecast,” and similar references to future periods. Our views about future performance involve risks and uncertainties that are difficult to predict and, accordingly, our actual results may differ materially from the results discussed in our forward-looking statements. We caution you against relying on any of these forward-looking statements.

Our future performance may be affected by the levels of residential repair and remodel activity, and to a lesser extent, new home construction, our ability to maintain our strong brands, to develop innovative products and respond to changing consumer purchasing practices and preferences, our ability to maintain our public image and reputation, our ability to maintain our competitive position in our industries, our reliance on key customers, the cost and availability of materials, our dependence on suppliers and service providers, extreme weather events and changes in climate, risks associated with our international operations and global strategies, the impact on demand, pricing and product costs resulting from tariffs, our ability to achieve the anticipated benefits of our strategic initiatives, our ability to successfully execute our acquisition strategy and integrate businesses that we have acquired and may in the future acquire, our ability to attract, develop and retain a talented workforce, risks associated with cybersecurity vulnerabilities, threats and attacks and risks associated with our reliance on information systems and technology. These and other factors are discussed in detail in Item 1A. "Risk Factors" in our most recent Annual Report on Form 10-K, as well as in our Quarterly Reports on Form 10-Q and in other filings we make with the Securities and Exchange Commission. Any forward-looking statement made by us speaks only as of the date on which it was made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. Unless required by law, we undertake no obligation to update publicly any forward-looking statements as a result of new information, future events or otherwise. 2

This release contains both U.S. generally accepted accounted principles (“GAAP”) and certain non-GAAP financial measures. Reconciliations of these non‑GAAP measures to the most directly comparable GAAP measures are included in the accompanying financial tables.

We believe that certain non-GAAP financial measures used in managing the business may provide users of this financial information with additional meaningful comparisons between current results and results in prior periods. These non-GAAP financial measures should be considered in addition to, and not as an alternative for or superior to, the comparable GAAP measure, and may not be comparable to similarly titled measures reported by other companies.

(1) Represents the gain from the sale of our Bristan Group business for the three and nine months ended September 30, 2026.

September 30, 2026 December 31, 2025 ────────────────────────────────────────────────────────────────────────────── Balance Sheet Assets Current assets: Cash and cash $ 610 $ 647 investments Receivables 1,254 1,028 Inventories 1,050 1,046 Prepaid expenses 125 119 and other Total current 3,039 2,840 assets Property and 1,183 1,195 equipment, net Goodwill 612 623 Other intangible 185 205 assets, net Operating lease 244 233 right-of-use assets Other assets 75 105 Total assets $ 5,338 $ 5,201 Liabilities Current liabilities: Accounts payable $ 860 $ 810 Notes payable 2 2 Accrued liabilities 795 761 Total current 1,657 1,573 liabilities Long-term debt 3,245 2,945 Noncurrent operating lease 238 221 liabilities Other liabilities 391 387 Total liabilities 5,531 5,125 Equity -193 76 Total liabilities $ 5,338 $ 5,201 and equity

As of September 30, 2026 2025 Other Financial Data Working capital days Receivable days 54 53 Inventory days 85 84 Payable days 67 69 Working capital $ 1,444 $ 1,408 Working capital as a % of 18.8 % 18.5 % sales(LTM)

Condensed Consolidated Statements of Cash Flows and Other Financial Data - Unaudited

Cash Flows From (For) Nine Months Ended Operating September 30, Activities: 2026 2025 ────────────────────────────────────────────────────────────────────────────── Cash provided by operating $ 981 $ 896 activities Working capital changes -194 -292 Net cash from operating 788 604 activities Cash Flows From (For) Financing Activities: Purchase of common stock -852 -354 Excise tax paid on the purchase of -5 -6 common stock Cash dividends paid -191 -197 Dividends paid to noncontrolling -25 -30 interest Proceeds from term loan 300 — Proceeds from the exercise of stock 28 6 options Employee withholding taxes paid on -14 -10 stock-based compensation Payment of debt -1 -1 Debt financing costs -3 — Net cash for financing -765 -592 activities Cash Flows From (For) Investing Activities: Capital expenditures -116 -109 Proceeds from disposition of business, 60 — net of cash disposed Other, net 1 -2 Net cash for investing -55 -111 activities Effect of exchange rate changes on cash -4 23 and cash investments Cash and Cash Investments: Decrease for the period -37 -75 At January 1 647 634 At September 30 $ 610 $ 559

Full text with the tables
                                                                                
  Exhibit 99                                                                    
                                                                                
                                                                                
              MASCO CORPORATION REPORTS THIRD QUARTER 2026 RESULTS              
                                                                                
                                                                                
  Highlights                                                                    
                                                                                
• Net sales increased 3 percent to $1,966 million; net sales increased 4 percent
excluding our divestiture and currency

• Operating profit margin was 17.2 percent; adjusted operating profit margin was
17.9 percent

• Earnings per share were $1.17; adjusted earnings per share grew 23 percent to
$1.19 per share

• Returned $322 million to shareholders through dividends and share repurchases

• 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
                                                                                
  LIVONIA, Mich. (October 28, 2026) -                                           
                                                                                
Masco Corporation (NYSE: MAS), one of the world’s leading manufacturers of
branded home improvement and building products, reported its third quarter 2026
results.
                                                                                
  2026 Third Quarter Results                                                    
                                                                                
• On a reported basis, compared to the third quarter 2025:

• Net sales increased 3 percent to $1,966 million; in local currency and
excluding our divestiture of Bristan, net sales increased 4 percent

◦ Plumbing Products’ net sales increased 4 percent; in local currency and
excluding our divestiture, net sales increased 5 percent

◦ Decorative Architectural Products’ net sales were flat to the prior year

◦ In local currency, North American net sales increased 5 percent

◦ In local currency, International net sales decreased 5 percent and excluding
our divestiture, decreased 1 percent

• Gross margin increased 240 basis points to 36.6 percent from 34.2 percent

• Operating profit increased 12 percent to $338 million from $303 million

• Operating margin increased 140 basis points to 17.2 percent from 15.8 percent

• Net income per common share increased 30 percent to $1.17, compared to $0.90

• Compared to the third quarter 2025, results for key financial measures, as
adjusted for certain items (see Exhibit A) and applying a normalized tax rate of
24.5 percent, were as follows:

• Gross margin increased 250 basis points to 37.1 percent from 34.6 percent

• Operating profit increased 13 percent to $351 million from $312 million

• Operating margin increased 160 basis points to 17.9 percent from 16.3 percent

• Net income per common share increased 23 percent to $1.19, compared to $0.97

• Liquidity at the end of the third quarter was $1,610 million (including
availability under our revolving credit facility)

“Our strong third quarter results reflect the strength of our teams, the
disciplined execution of our strategy, and the resilience of our business,” said
Masco’s President and CEO, Jon Nudi. “We are executing well against our
strategy, delivering above-market growth and building momentum throughout the
organization. In the third quarter, net sales increased 3 percent, or 4 percent
excluding the impacts of our divestiture and currency, adjusted operating margin
expanded 160 basis points to 17.9 percent, and adjusted earnings per share grew
23 percent. In addition, we returned $322 million to shareholders through
dividends and share repurchases, demonstrating the strength of our cash flow
generation and our ongoing commitment to disciplined capital allocation and
shareholder value creation.”

“Based on the strength of our operational performance year-to-date, we now
expect adjusted earnings per share to be in the range of $4.65 to $4.75,
compared to our previous guidance range of $4.40 to $4.60,” continued Nudi.
“While we expect the demand environment to remain challenged in the near term,
the long-term fundamentals of the repair and remodel market remain strong, and
we are executing well. We remain confident in our ability to leverage the power
of our industry-leading brands, to expand our commercial capabilities and to
drive operational excellence to create long-term shareholder value.”
                                       1                                        
                                                                                
  Dividend Declaration                                                          
                                                                                
Masco’s Board of Directors declared a quarterly dividend of $0.32 per share,
payable on November 23, 2026 to shareholders of record on November 6, 2026.
                                                                                
  About Masco                                                                   
                                                                                
Headquartered in Livonia, Michigan, Masco Corporation is a global leader in the
design, manufacture and distribution of branded home improvement and building
products. Our portfolio of industry leading brands includes Behr ® paint; Delta
® and hansgrohe ® faucets, bath and shower fixtures; Liberty ® branded
decorative and functional hardware; and HotSpring ® spas. We leverage our
powerful brands across product categories, sales channels and geographies to
create value for our customers and shareholders. For more information about
Masco Corporation, visit www.masco.com.

The 2026 third quarter supplemental material, including a presentation in PDF
format, is available on the Company’s website at www.masco.com.
                                                                                
  Conference Call Details                                                       
                                                                                
A conference call regarding items contained in this release is scheduled for
Wednesday, October 28, 2026 at 8:00 a.m. ET. Participants in the call are asked
to register five to ten minutes prior to the scheduled start time by dialing
585-542-9983 or 833-461-5787. Please use the meeting identification number
284633590.

The conference call will be webcast simultaneously and in its entirety through
the Company’s website. Shareholders, media representatives and others interested
in Masco may participate in the webcast by registering through the Investor
Relations section on the Company’s website.

A replay of the call will be available on Masco’s website or by phone by dialing
929-828-5978 or 833-309-1852. Please enter the meeting identification number
284633590#. The telephone replay will be available approximately two hours after
the end of the call and remain available until November 27, 2026.
                                                                                
  Safe Harbor Statement                                                         
                                                                                
This press release contains statements that reflect our views about our future
performance and constitute “forward-looking statements” under the Private
Securities Litigation Reform Act of 1995. Forward-looking statements can be
identified by words such as “outlook,” “believe,” “anticipate,” “appear,” “may,”
“will,” “should,” “intend,” “plan,” “estimate,” “expect,” “assume,” “seek,”
“forecast,” and similar references to future periods. Our views about future
performance involve risks and uncertainties that are difficult to predict and,
accordingly, our actual results may differ materially from the results discussed
in our forward-looking statements. We caution you against relying on any of
these forward-looking statements.

Our future performance may be affected by the levels of residential repair and
remodel activity, and to a lesser extent, new home construction, our ability to
maintain our strong brands, to develop innovative products and respond to
changing consumer purchasing practices and preferences, our ability to maintain
our public image and reputation, our ability to maintain our competitive
position in our industries, our reliance on key customers, the cost and
availability of materials, our dependence on suppliers and service providers,
extreme weather events and changes in climate, risks associated with our
international operations and global strategies, the impact on demand, pricing
and product costs resulting from tariffs, our ability to achieve the anticipated
benefits of our strategic initiatives, our ability to successfully execute our
acquisition strategy and integrate businesses that we have acquired and may in
the future acquire, our ability to attract, develop and retain a talented
workforce, risks associated with cybersecurity vulnerabilities, threats and
attacks and risks associated with our reliance on information systems and
technology. These and other factors are discussed in detail in Item 1A. "Risk
Factors" in our most recent Annual Report on Form 10-K, as well as in our
Quarterly Reports on Form 10-Q and in other filings we make with the Securities
and Exchange Commission. Any forward-looking statement made by us speaks only as
of the date on which it was made. Factors or events that could cause our actual
results to differ may emerge from time to time, and it is not possible for us to
predict all of them. Unless required by law, we undertake no obligation to
update publicly any forward-looking statements as a result of new information,
future events or otherwise.
                                       2                                        
                                                                                
  Non-GAAP Financial Measures                                                   
                                                                                
This release contains both U.S. generally accepted accounted principles (“GAAP”)
and certain non-GAAP financial measures. Reconciliations of these non‑GAAP
measures to the most directly comparable GAAP measures are included in the
accompanying financial tables.

We believe that certain non-GAAP financial measures used in managing the
business may provide users of this financial information with additional
meaningful comparisons between current results and results in prior periods.
These non-GAAP financial measures should be considered in addition to, and not
as an alternative for or superior to, the comparable GAAP measure, and may not
be comparable to similarly titled measures reported by other companies.
                                                                                
  Investor Contact                                                              
                                                                                
Renee Benedict

Vice President, Investor Relations and Corporate FP&A

313.792.5500

MascoInvestorRelations@mascohq.com
                                                                                
  Media Contact                                                                 
                                                                                
Jordana Strosberg

Vice President, Chief Communications Officer

313.938.5481

Jordana_Strosberg@mascohq.com
                                     # # #                                      
                                                                                
                                       3                                        
                                                                                
  MASCO CORPORATION                                                             
                                                                                
Condensed Consolidated Statements of Operations - Unaudited

For the Three and Nine Months Ended September 30, 2026 and 2025

(in millions, except per common share data)
                                                                                
                        Three                              Nine                 
                       Months                            Months                 
                        Ended                             Ended                 
                    September                         September                 
              2026        30,    2025           2026        30,    2025         
 ────────────────────────────────────────────────────────────────────────────── 
  Net         $         1,966    $     1,917    $         5,875    $     5,769  
  sales                                                                         
  Cost of               1,246          1,261              3,603          3,696  
  sales                                                                         
  Gross                   720            656              2,273          2,073  
  profit                                                                        
  Selling,                                                                      
  general                                                                       
  and                     381            353              1,148          1,072  
  adminis…                                                                      
  expenses                                                                      
  Operati…                338            303              1,125          1,001  
  profit                                                                        
  Other                                                                         
  income                                                                        
  (expens…                                                                      
  net:                                                                          
  Interest                -29            -25                -82            -77  
  expense                                                                       
  Other,                   13             -2                 11            -16  
  net                                                                           
                          -16            -27                -71            -93  
  Income                                                                        
  before                  322            276              1,054            908  
  income                                                                        
  taxes                                                                         
  Income                                                                        
  tax                      82             76                252            226  
  expense                                                                       
  Net                     240            200                801            682  
  income                                                                        
  Less:                                                                         
  Net                                                                           
  income                                                                        
  attribu…                 10             11                 40             36  
  to                                                                            
  noncont…                                                                      
  interest                                                                      
  Net                                                                           
  income                                                                        
  attribu…    $           230    $       189    $           761    $       645  
  to Masco                                                                      
  Corpora…                                                                      
  Income                                                                        
  per                                                                           
  common                                                                        
  share                                                                         
  attribu…                                                                      
  to                                                                            
  Masco                                                                         
  Corpora…                                                                      
  (dilute…                                                                      
  Net         $          1.17    $      0.90    $          3.81    $      3.06  
  income                                                                        
  Average                                                                       
  diluted                                                                       
  common                  196            209                200            211  
  shares                                                                        
  outstan…                                                                      
                                                                                
Historical information is available on our website.
                      Amounts may not add due to rounding.                      
                                                                                
                                       4                                        
                                                                                
  MASCO CORPORATION                                                             
                                                                                
                                                                                
  Exhibit A: Reconciliations - Unaudited                                        
                                                                                
For the Three and Nine Months Ended September 30, 2026 and 2025

(dollars in millions)
                                                                                
  Gro…                                                                          
  Pro…                                                                          
  Sel…                                                                          
  Gen…                                                                          
  and                                                                           
  Adm…    Three                                Nine                             
  Exp…    Mont…                                Mon…                             
  and     Ended                                End…                             
  Ope…    Sept…                                Sep…                             
  Pro…    30,                                  30,                              
  Rec…    2026               2025              2026              2025           
 ────────────────────────────────────────────────────────────────────────────── 
  Net     $      1,966       $     1,917       $     5,875       $     5,7…     
  sal…                                                                          
  Gro…                                                                          
  pro…    $        720       $       656       $     2,273       $     2,0…     
  as                                                                            
  rep…                                                                          
  Rat…              10                 7                19               10     
  cha…                                                                          
  Gro…                                                                          
  pro…    $        730       $       663       $     2,292       $     2,0…     
  as                                                                            
  adj…                                                                          
  Gro…                                                                          
  mar…            36.6  %           34.2  %           38.7  %          35.9  %  
  as                                                                            
  rep…                                                                          
  Gro…                                                                          
  mar…            37.1  %           34.6  %           39.0  %          36.1  %  
  as                                                                            
  adj…                                                                          
  Sel…                                                                          
  gen…                                                                          
  and                                                                           
  adm…    $        381       $       353       $     1,148       $     1,0…     
  exp…                                                                          
  as                                                                            
  rep…                                                                          
  Rat…               3                 2                14                3     
  cha…                                                                          
  Sel…                                                                          
  gen…                                                                          
  and                                                                           
  adm…    $        378       $       352       $     1,134       $     1,0…     
  exp…                                                                          
  as                                                                            
  adj…                                                                          
  Sel…                                                                          
  gen…                                                                          
  and                                                                           
  adm…                                                                          
  exp…                                                                          
  as a            19.4  %           18.4  %           19.5  %          18.6  %  
  per…                                                                          
  of                                                                            
  net                                                                           
  sal…                                                                          
  as                                                                            
  rep…                                                                          
  Sel…                                                                          
  gen…                                                                          
  and                                                                           
  adm…                                                                          
  exp…                                                                          
  as a            19.2  %           18.4  %           19.3  %          18.5  %  
  per…                                                                          
  of                                                                            
  net                                                                           
  sal…                                                                          
  as                                                                            
  adj…                                                                          
  Ope…                                                                          
  pro…    $        338       $       303       $     1,125       $     1,0…     
  as                                                                            
  rep…                                                                          
  Rat…              13                 8                33               12     
  cha…                                                                          
  Ope…                                                                          
  pro…    $        351       $       312       $     1,158       $     1,0…     
  as                                                                            
  adj…                                                                          
  Ope…                                                                          
  mar…            17.2  %           15.8  %           19.1  %          17.4  %  
  as                                                                            
  rep…                                                                          
  Ope…                                                                          
  mar…            17.9  %           16.3  %           19.7  %          17.6  %  
  as                                                                            
  adj…                                                                          
                                                                                
Historical information is available on our website.
                      Amounts may not add due to rounding.                      
                                                                                
                                       5                                        
                                                                                
  MASCO CORPORATION                                                             
                                                                                
                                                                                
  Exhibit A: Reconciliations - Unaudited                                        
                                                                                
For the Three and Nine Months Ended September 30, 2026 and 2025

(in millions, except per common share data)
                                                                                
              Three                            Nine                             
  Income      Months                           Months                           
  Per         Ended                            Ended                            
  Common      September                        September                        
  Share       30,                              30,                              
  Reconci…    2026               2025          2026                 2025        
 ────────────────────────────────────────────────────────────────────────────── 
  Income                                                                        
  before                                                                        
  income      $           322    $      276    $           1,054    $      908  
  taxes,                                                                        
  as                                                                            
  reported                                                                      
  Rationa…                 13             8                   33            12  
  charges                                                                       
  Gain on                                                                       
  sale of                 -13             —                  -13             —  
  busines…                                                                      
  Loss                                                                          
  from                                                                          
  financi…                  1             —                    1             5  
  investm…                                                                      
  net                                                                           
  Income                                                                        
  before                                                                        
  income                  323           284                1,074           925  
  taxes,                                                                        
  as                                                                            
  adjusted                                                                      
  Tax at                                                                        
  24.5%                   -79           -70                 -263          -227  
  rate                                                                          
  Less:                                                                         
  Net                                                                           
  income                                                                        
  attribu…                 10            11                   40            36  
  to                                                                            
  noncont…                                                                      
  interest                                                                      
  Net                                                                           
  income,     $           234    $      204    $             771    $      662  
  as                                                                            
  adjusted                                                                      
  Net                                                                           
  income                                                                        
  per                                                                           
  common      $          1.19    $     0.97    $            3.86    $     3.14  
  share,                                                                        
  as                                                                            
  adjusted                                                                      
  Average                                                                       
  diluted                                                                       
  common                  196           209                  200           211  
  shares                                                                        
  outstan…                                                                      
                                                                                
(1) Represents the gain from the sale of our Bristan Group business for the
three and nine months ended September 30, 2026.
                                                                                
  Outlook for the Year Ended December 31, 2026                                  
                                                                                
                                                                                
                                 Year Ended December                            
                                 31, 2026                                       
 ────────────────────────────────────────────────────────────────────────────── 
                                 Low End                       High End         
  Income Per Common Share                                                       
  Reconciliation                                                                
  Net income per common share    $                     4.51    $          4.61  
  Rationalization charges                              0.19               0.19  
  Gain on sale of business(1)                         -0.05              -0.05  
  Net income per common          $                     4.65    $          4.75  
  share, as adjusted                                                            
                                                                                
(1) Represents the gain from the sale of our Bristan Group business.

Historical information is available on our website.
                      Amounts may not add due to rounding.                      
                                                                                
                                       6                                        
                                                                                
  MASCO CORPORATION                                                             
                                                                                
Condensed Consolidated Balance Sheets and Other Financial Data - Unaudited
                                                                                
  September 30, 2026 and December 31, 2025                                      
                                                                                
(dollars in millions)
                                                                                
                         September 30, 2026           December 31, 2025         
 ────────────────────────────────────────────────────────────────────────────── 
  Balance Sheet                                                                 
  Assets                                                                        
  Current assets:                                                               
  Cash and cash          $                     610    $                    647  
  investments                                                                   
  Receivables                                1,254                       1,028  
  Inventories                                1,050                       1,046  
  Prepaid expenses                             125                         119  
  and other                                                                     
  Total current                              3,039                       2,840  
  assets                                                                        
  Property and                               1,183                       1,195  
  equipment, net                                                                
  Goodwill                                     612                         623  
  Other intangible                             185                         205  
  assets, net                                                                   
  Operating lease                              244                         233  
  right-of-use assets                                                           
  Other assets                                  75                         105  
  Total assets           $                   5,338    $                  5,201  
  Liabilities                                                                   
  Current                                                                       
  liabilities:                                                                  
  Accounts payable       $                     860    $                    810  
  Notes payable                                  2                           2  
  Accrued liabilities                          795                         761  
  Total current                              1,657                       1,573  
  liabilities                                                                   
  Long-term debt                             3,245                       2,945  
  Noncurrent                                                                    
  operating lease                              238                         221  
  liabilities                                                                   
  Other liabilities                            391                         387  
  Total liabilities                          5,531                       5,125  
  Equity                                      -193                          76  
  Total liabilities      $                   5,338    $                  5,201  
  and equity                                                                    
                                                                                
                                                                                
                               As of September 30,                              
                                              2026              2025            
  Other Financial Data                                                          
  Working capital days                                                          
  Receivable days                                      54                53     
  Inventory days                                       85                84     
  Payable days                                         67                69     
  Working capital                                $  1,444          $  1,408     
  Working capital as a % of                          18.8  %           18.5  %  
  sales(LTM)                                                                    
                                                                                
Historical information is available on our website.
                      Amounts may not add due to rounding.                      
                                                                                
                                       7                                        
                                                                                
  MASCO CORPORATION                                                             
                                                                                
Condensed Consolidated Statements of Cash Flows and Other Financial Data -
Unaudited

For the Nine Months Ended September 30, 2026 and 2025

(dollars in millions)
                                                                                
  Cash Flows From (For)         Nine Months Ended                               
  Operating                     September 30,                                   
  Activities:                   2026                                2025        
 ────────────────────────────────────────────────────────────────────────────── 
  Cash provided by operating    $                            981    $      896  
  activities                                                                    
  Working capital changes                                   -194          -292  
  Net cash from operating                                    788           604  
  activities                                                                    
  Cash Flows From (For)                                                         
  Financing                                                                     
  Activities:                                                                   
  Purchase of common stock                                  -852          -354  
  Excise tax paid on the                                                        
  purchase of                                                 -5            -6  
  common stock                                                                  
  Cash dividends paid                                       -191          -197  
  Dividends paid to                                                             
  noncontrolling                                             -25           -30  
  interest                                                                      
  Proceeds from term loan                                    300             —  
  Proceeds from the exercise                                                    
  of stock                                                    28             6  
  options                                                                       
  Employee withholding taxes                                                    
  paid on                                                    -14           -10  
  stock-based compensation                                                      
  Payment of debt                                             -1            -1  
  Debt financing costs                                        -3             —  
  Net cash for financing                                    -765          -592  
  activities                                                                    
  Cash Flows From (For)                                                         
  Investing                                                                     
  Activities:                                                                   
  Capital expenditures                                      -116          -109  
  Proceeds from disposition                                                     
  of business,                                                60             —  
  net of cash disposed                                                          
  Other, net                                                   1            -2  
  Net cash for investing                                     -55          -111  
  activities                                                                    
  Effect of exchange rate                                                       
  changes on cash                                             -4            23  
  and cash investments                                                          
  Cash and Cash Investments:                                                    
  Decrease for the period                                    -37           -75  
  At January 1                                               647           634  
  At September 30               $                            610    $      559  
                                                                                
                                                                          
                               As of September 30,                        
  Liquidity                    2026                          2025         
 ──────────────────────────────────────────────────────────────────────── 
  Cash and cash investments    $                      610    $       559  
  Revolver availability                             1,000          1,000  
  Total Liquidity              $                    1,610    $     1,559  
                                                                          
Historical information is available on our website.
                      Amounts may not add due to rounding.                      
                                                                                
                                       8                                        
                                                                                
  MASCO CORPORATION                                                             
                                                                                
                                                                                
  Segment Data - Unaudited                                                      
                                                                                
For the Three and Nine Months Ended September 30, 2026 and 2025

(dollars in millions)
                                                                                
       T…                                    N…                                 
       M…                                    M…                                 
       E…                                    E…                                 
       S…                                    S…                                 
  …    3…                                    3…                                 
  …    2…           2…           C…          2…           2…          C…        
 ────────────────────────────────────────────────────────────────────────────── 
  …    $   1…       $   1…           4  %    $   4…       $   …           3  %  
  …                                                                             
  …                                                                             
  …    $   2…       $   1…                   $   8…       $   …                 
  …                                                                             
  …                                                                             
  …                                                                             
  …        1…  %        1…  %                    2…  %        …  %              
  …                                                                             
  …                                                                             
  …        12            8                       27           …                 
  …                                                                             
  …                                                                             
  …        2…           2…                       8…           …                 
  …                                                                             
  …                                                                             
  …                                                                             
  …        1…  %        1…  %                    2…  %        …  %              
  …                                                                             
  …                                                                             
  …                                                                             
  …        29           29                       88           …                 
  …                                                                             
  …                                                                             
  …    $   2…       $   2…                   $   9…       $   …                 
  …                                                                             
  …                                                                             
  …                                                                             
  …                                                                             
  …    $   6…       $   6…           —  %    $   1…       $   …           …  %  
  …                                                                             
  …                                                                             
  …    $   1…       $   1…                   $   3…       $   …                 
  …                                                                             
  …                                                                             
  …                                                                             
  …        1…  %        2…  %                    2…  %        …  %              
  …                                                                             
  …                                                                             
  …         1            —                        2           —                 
  …                                                                             
  …                                                                             
  …                                                                             
  …         —            —                        1           —                 
  …                                                                             
  …                                                                             
  …                                                                             
  …                                                                             
  …        1…           1…                       3…           …                 
  …                                                                             
  …                                                                             
  …                                                                             
  …        2…  %        2…  %                    2…  %        …  %              
  …                                                                             
  …                                                                             
  …                                                                             
  …         7            7                       20           …                 
  …                                                                             
  …                                                                             
  …    $   1…       $   1…                   $   3…       $   …                 
  …                                                                             
  …                                                                             
  …    $   1…       $   1…           3  %    $   5…       $   …           2  %  
  …                                                                             
  …                                                                             
  …                                                                             
  …    $   3…       $   3…                   $   1…       $   …                 
  …                                                                             
  -                                                                             
  …                                                                             
  …                                                                             
  …        -…           -…                       -…           …                 
  …                                                                             
  …                                                                             
  …                                                                             
  …        3…           3…                       1…           …                 
  …                                                                             
  …                                                                             
  …                                                                             
  …        1…  %        1…  %                    1…  %        …  %              
  …                                                                             
  …                                                                             
  …                                                                             
  …        12            8                       29           …                 
  -                                                                             
  …                                                                             
  …                                                                             
  …         1            —                        3           —                 
  -                                                                             
  …                                                                             
  …                                                                             
  …                                                                             
  …                                                                             
  …         —            —                        1           —                 
  …                                                                             
  …                                                                             
  -                                                                             
  …                                                                             
  …                                                                             
  …        3…           3…                       1…           …                 
  …                                                                             
  …                                                                             
  …                                                                             
  …        1…  %        1…  %                    1…  %        …  %              
  …                                                                             
  …                                                                             
  …                                                                             
  …                                                                             
  …        36           36                       1…           …                 
  -                                                                             
  …                                                                             
  …                                                                             
  …                                                                             
  …         1            2                        4           6                 
  -                                                                             
  …                                                                             
  …                                                                             
  …    $   3…       $   3…                   $   1…       $   …                 
  …                                                                             
                                                                                
Historical information is available on our website.
                      Amounts may not add due to rounding.                      
                                                                                
                                       9                                        

Work on MAS in a spreadsheet: Excel workbook (a sheet per section, ten years by column, charts, links to the filings) · CSV. For a Google Sheet that stays up to date, paste =IMPORTDATA("https://tickdelta.com/company/MAS/export.csv") into a cell.