IBJNews

Delta Faucet parent struggles through rocky housing market

Back to TopCommentsE-mailPrintBookmark and Share
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.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
ADVERTISEMENT