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Delta Faucet parent struggles through rocky housing market

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On The Beat Industry News In Brief

The parent company of Carmel-based Delta Faucet continues to bump along the rocky bottom of the nation’s depressed housing market.

Masco Corp., based in Taylor, Mich., reported on Oct. 25 a third-quarter loss of 2 cents per share, compared with a year-ago profit of 14 cents per share. Sales declined 6 percent to $2 billion.

Plumbing was the company’s only product segment to see any growth, however modest. The segment posted sales of $686 million for the third quarter ended Sept. 30. That was a 1-percent gain over the year-ago quarter.
 

Delta headquarters Delta Faucet’s parent company, Masco Corp., is struggling with the depressed housing market. (IBJ File Photo)

Sales declined in the other four product segments, especially cabinets and installation, which saw respective drops of 18 percent and 12 percent. Masco said the growth in plumbing is largely from overseas sales of its high-end Hansgrohe brand.

The company relies on housing starts, which hit a historic low in 2009. Although some housing markets have been slower than expected this year, CEO Tim Wadhams said he still expects total starts of 575,000 to 625,000 in 2010.

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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

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  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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