USA –   MasterBrand, North America’s largest residential cabinet manufacturer, announced its third-quarter 2025 financial results, showing stable performance amid continued market softness.

Net sales totaled USD 698.9 million, down 2.7% from the same period in 2024, reflecting market declines partially offset by prior pricing and share gains. Gross profit reached USD 218.2 million, with a margin of 31.2%, while net income was USD 18.1 million compared to USD 29.1 million a year earlier. Adjusted EBITDA was USD 90.6 million with a 13.0% margin, down from USD 104.5 million in Q3 2024.

CEO Dave Banyard highlighted disciplined execution and agility under the “MasterBrand Way,” noting progress toward the merger with American Woodmark: “We look forward to combining two exceptional organizations to accelerate growth and deliver long-term value.”

As of September 28, 2025, MasterBrand held USD 114.8 million in cash and USD 954.1 million in total debt, with net debt at USD 839.3 million. Free cash flow for the first nine months was USD 65.0 million, down from USD 142.3 million in 2024 due to lower income and higher capital expenditures tied to the Supreme integration.

For full-year 2025, the company expects flat total net sales, adjusted EBITDA between USD 315–335 million (margin of 11.5–12.0%). The outlook reflects the impact of newly enacted tariffs and excludes any effects from the pending merger.

CFO Andi Simon said, “Despite soft market demand, we maintained profitability and continue positioning for stronger margins as conditions improve.”