PUBLIC COMPANY; YEAR ESTABLISHED: 1929
REVENUE: $2.08 billion s (2017: $1.8 billion)
Keith Allman, president and CEO; Amit Bhargava, VP, strategy and corporate development.
Masco Corp. reported net sales of $2.08 billion for paint and coatings, comprising 32 percent of total sales for 2019.
The company produces architectural coatings including paints, primers, specialty paint products, stains and waterproofing products. The products are sold in the U.S. and Canada through do-it-yourself channels under brands including Behr and Kilz.
The company’s high profile Behr products are sold through The Behr Process Corporation to The Home Depot, the segment’s and the company’s largest company.
In his 2019 letter to shareholders, President and CEO Keith Allman said, “2019 was a dynamic and transformational year for Masco as we solidified our vision for the future.
"In 2019, Masco’s leadership team and Board of Directors made the decision that the best path to create long-term value for its shareholders was to focus its efforts and capital on its higher-margin, less cyclical Plumbing Products and Decorative Architectural Products segments. Masco divested the business units in its Cabinetry Products and Windows and Other Specialty Products segments," Allman said.
“We initiated our transformative plan and while the preparation, marketing and execution took several months, by November 2019 we had completed the sale of our Windows businesses and in February 2020, we completed the sale of our Cabinetry business,” Allman continued. “Today, Masco consists of two business segments with significant similarities that complement and strengthen each other. Our Plumbing Products and Decorative Architectural Products segments serve common channels and customers where we can leverage our consumer insight and expertise. These segments have similar margins and growth profiles. Both have strong brands and are innovation leaders focused on homeowners and professionals, consumers we know very well. We believe that Masco is now positioned for long-term growth with a high-quality resilient portfolio, industry-leading positions and a strong focus on repair and remodeling...We continued to gain share in the professional and do-it-yourself paint channels through our well- known and respected Behr and Kilz brands. And, importantly, we continued to execute on our capital allocation strategy and deployed over $1.2 billion of capital in 2019 by repurchasing over 20 million shares, reducing our debt by approximately $200 million and increasing our dividend by 12.5 percent. This marks the sixth consecutive year we have increased our dividend."
"As I look back, I believe we have effectively navigated significant challenges while making Masco a better company for the long term," Allman said. "Our businesses are performing well, and the Masco Operating System is building a winning organization with continued cross-business unit leverage of our brands, people and best practices. And, importantly, our employees across the globe are focused on delivering better living possibilities for themselves, our consumers, our shareholders and the communities where they live and work.
Behr Paint recently launched a reimagined paint can is hitting shelves to make the painting process simpler and cleaner than ever before – no paint key or tools required to open the container.
Also, Behr's new, 100 percent recyclable design features a first-of-its-kind Simple Pour plastic lid that eliminates mess and rust and keeps paint fresher longer.
"The current gallon paint can was long overdue for innovation," said Jodi Allen, chief marketing officer at Behr. "We've spent years experimenting to perfect this new design, making sure this revolutionary new can is both environmentally responsible and effective in alleviating common pain points in the painting process. This new design will ensure do-it-yourselfers and pros alike can easily use and preserve Behr's high-quality products."
Traditional paint lids require a paint key or screwdriver to open, and a mallet or hammer to close—both of which can damage the metal can and spoil paint saved for reuse or touchups by exposing it to air.
Behr's newly reimagined paint cans will be sold with a complimentary, washable, 100 percent recyclable plastic pour spout that snaps onto a 70mm opening on the top of the lid, which can be re-sealed with a simple twist-off cap. For those who prefer to dip their brush directly in the can while painting, the new lid can be removed the traditional way as well.