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Masonite International Corporation stock price
Masonite International Corporation latest news:
Masonite shares plunge after big earnings miss, lowered outlook
Masonite International Corp. shares dropped in the extended session Wednesday after the door maker fell well short of Wall Street estimates for the quarter and lowered its outlook for the year. Masonite shares plunged 15% to $61.95 after hours. The company reported second-quarter net income of $26.9 million, or 89 cents a share, compared to $33.4 million, or $1.06 a share, in the year-ago period. Revenue rose to $519.7 million from $514 million in the year-ago period. Analysts surveyed by FactSet had estimated earnings of $1.11 a share on revenue of $547.1 million. In a statement, Masonite said it no longer expects its full-year adjusted earnings outlook to fall within its previously stated range of $4.10 to $4.60 a share. Analysts expect earnings of $4.21 a share.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Masonite Q2 earnings per share $0.89
Masonite International Corp(DOOR): * Masonite International Corporation(DOOR) reports 2017 second quarter financial results; provides update on annual outlook. * Q2 adjusted earnings per share $0.89. * Q2 earnings per share $0.89. * Q2 sales $520 million versus I/B/E/S view $545.2 million.
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