Filing Flows › MasterBrand (MBC) › Q1 2025
MasterBrand (MBC) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
MasterBrand (MBC) reported revenue of $660M for the first quarter 2025 (Q1 2025), +3% from a year earlier and -1% from the quarter before. Operating margin was 5.6%, net earnings $13.3M (2.0% of revenue).
MasterBrand, Q1 2025: revenue $660M (+4% year over year), operating margin 5.6%, net earnings $13.3M, operating cash flow −$31.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $660M | -1% | +3% |
| Gross profit | $202M | -0.5% | -1% |
| Operating profit | $37.1M | -1% | -41% |
| Net earnings | $13.3M | -5% | -65% |
| Operating cash flow | −$31.4M | — | — |
What changed
Revenue was $660.3M in Q1 2025, up 3% year over year and down 1% from the previous quarter. Dealer was the largest line at 53% of revenue. Dealer added $38.1M year over year (up 12%), 172% of the total change. Retail declined 8%.
Gross margin was 30.6%, down 1.5 points from a year earlier. Operating profit was $37.1M, a 5.6% margin (down 4.2 points year over year). Operating profit fell $25.7M even though revenue rose $22.2M versus a year earlier, so costs grew faster than sales. Operating expenses grew 16% against revenue growth of 3%. The fastest-growing cost line was Other operating costs (+171%). Net earnings were $13.3M, down 65% year over year. The effective tax rate was 23.1%.
Operating cash flow was −$31.4M. Non-cash charges added back $22.8M of depreciation and amortization and $5.1M of share-based compensation. Working capital and other items used $72.6M. Capital expenditures of $9.8M exceeded it, leaving free cash flow of −$41.2M.
Questions
What was MasterBrand's revenue in the first quarter 2025?
MasterBrand (MBC) reported revenue of $660M for the first quarter 2025 (Q1 2025), +3% from a year earlier and -1% from the quarter before.
Was MasterBrand profitable in the first quarter 2025?
Operating profit was $37.1M (5.6% of revenue) and net earnings $13.3M.
Source: MasterBrand 10-Q on SEC EDGAR.