U.S. – Masonite International Corporation, one of the largest global manufacturers of wooden doors, announced results for 3Q-2017 and the first nine months of 2017 (9M-2017).

Net sales increased 6% to USD 518 million in the third quarter of 2017, from USD 490 million in the comparable period of 2016. The increase in net sales was a result of a 3% increase in volume, due primarily to higher volumes in the North American Residential and Europe segments, a 2% increase in average unit price and a 1% benefit from foreign exchange.

Net sales increased 2% to USD 1,524 million in the first nine months of 2017, from USD 1,493 million in the comparable period of 2016. “We are encouraged by the improved volume trend and operational recovery in our business. While the third quarter began with weak margins as we worked through higher cost inventory, they steadily improved each month,” said Fred Lynch, President and CEO. “With our manufacturing productivity back on track to levels we anticipated, we expect margin growth to resume, particularly in 2018 and beyond.”

Net income attributable to Masonite decreased USD 3 million to USD 80 million in the first nine months of 2017. Adjusted EBITDA decreased USD 1 million to USD 191 million for the first nine months of 2017, from USD 192 million in the comparable 2016 period.