USA – MasterBrand, Inc, North America’s largest residential cabinet manufacturer, reported its second quarter 2024 (2Q-2024) financial results.

“MasterBrand delivered solid financial performance this quarter, with year-over-year adjusted EBITDA margin growth and strong free cash flow,” said Dave Banyard, President and CEO. “This success is thanks to our team’s commitment to The MasterBrand Way and effective strategy execution. Continued investments and acquisitions like Supreme Cabinetry Brands enhance our confidence in surpassing market expectations, meeting long-term goals, and delivering sustained shareholder value.”

For 2Q-2024, MasterBrand reported net income of USD 45.3 million on net sales of USD 675.5 million, with both figures down 11.5% and 2.7% from last year, respectively. The decline is attributed to lower sales, higher interest expenses, restructuring costs, and acquisition-related expenses, partially offset by a lower tax rate.

Looking ahead for 2024, MasterBrand has raised its outlook post-acquisition of Supreme Cabinetry Brands, expecting a low single-digit percentage increase in consolidated net sales despite a projected organic decline.

MasterBrand’s portfolio includes around 20 cabinet brands, such as Aristokraft, Bertch, Fieldstone, and Schrock.