Masco Baird 2026 Global Industrial Conference
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Okay, great. Good morning, everybody. Thanks for joining us. I'm Tim Wojs. I cover building products here at Baird, and we're delighted to have Masco join us again this year at our Global Industrial Conference. Masco is a global leader in branded home improvement and building products. They've got a portfolio that includes Behr paint, Delta and Hansgrohe faucets and shower fixtures, and then Hot Spring spas. From the company on stage with me, we have President and CEO Jon Nudi, and Renee is from IR, is up front here in the audience. We're going to start with a few kind of overview prepared remarks from Jon, and then we'll hop into Q&A. With that, I'll turn the floor to you.
Awesome. Thank you, Tim. It's great to be here. In terms of an overview of Masco, we're just short of $8 billion in revenue, really playing in three global categories.
Is this on? Yeah, I think it's- Okay.
Three- There we go categories.
We are a global leader in plumbing.
One second. It is cutting out.
No, it's cutting out. All right.
Let's see here. We'll get this fixed.
How about now? Is that good? All right. Let's see. That's working well. Use this? So, all right. Can you hear me now?
Okay. There you go. All right.
Jon Nudi, happy to be here. Talk a little bit about Masco. As Tim mentioned, we're a building products company. We're just short of $8 billion in revenue, high teens margins, which we've been focused on growing over a long period of time. Three core categories. We're a global leader in plumbing, here in North America with the Delta, Brizo, and Newport Brass brands, and then globally with Hansgrohe and AXOR. We are the largest manufacturer of hot tubs and saunas in North America. Finally, we have a decorative architectural business, so Behr paint, which is predominantly sold through The Home Depot. From a strategy standpoint, we're really focused on accelerating our top line via consumer-driven strategy. At the end of the day, we want to understand our consumers and their problems and solve them for them better than all of our competitors.
Really three core things we're focused on. One is our industry-leading brands. Brands really truly are important in our categories. At the end of the day, it's what drives our ability to innovate and to really have the margins that we do. Second, develop capabilities, increasingly digital capabilities, which I'm sure we'll get into. Finally, Masco's been known for a long time for operational excellence. We want to make sure that we maintain that and even focus our teams a bit more to make sure that we can continue to take cost out, drive margins that we can then reinvest back in our business to grow it. With that, happy to jump in.
Great. John, you've been CEO for a year and a half now, plus or minus. As you've kind of assessed the business, what are some of the key strengths and weaknesses, or opportunities that you kind of see, and where has your time kind of migrated as your tenure has kind of lengthened here at Masco?
Yeah, so it's been a great 18 months. Prior to coming in as CEO, I was actually on the board of Masco for a couple of years, so I had a pretty good perspective of where the company was. As I entered the company, as management, I went out and spent a lot of time with investors. The one thing that I heard consistently was love the focus on margins and operational discipline. Would love to see Masco grow a bit more quickly on the top line. I would say for me, that's one of the things we're really trying to do, is certainly not take away the focus from margins. They're incredibly important. We've got to continue to do that. But probably sharpen our focus in terms of our growth mindset. We've likely grown with our categories over time.
We want to consistently outgrow our categories and continue to deliver strong margins. I think one of the trickiest things is to do both. As I go out and I talk to teams, and it's been the case in my prior life as well, people want to choose, is it growth or is it margins? It's really the and that's what we've been focused on, really building, make sure that we have the right leadership, the right teams. I can tell you, Masco has really terrific people that really know our industries, which is fantastic. Then building out capabilities, particularly in the digital space, that are really required for us to be successful today. So, spending a lot of time around those capabilities.
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