MasterBrand Inc.

MasterBrand reported second quarter 2026 net sales of $815.2 million, including $125.5 million from American Woodmark for the 32-day period following the merger completion on May 28, 2026. Legacy net sales were $689.7 million, down 5.6% due to a mid- to high-single-digit market decline partially offset by tariff-related pricing flow-through. Adjusted EBITDA was $62.5 million, reflecting a margin of 7.7% and including a $4.3 million contribution from American Woodmark, while legacy adjusted EBITDA was $58.2 million, representing an 8.4% margin, down 600 basis points year over year. The company increased its annual run-rate cost synergy target to over $100 million by the end of year three post-close, exceeding the original deal target, and has already executed $30 million in annualized actions. For the second half of 2026, MasterBrand guided net sales of $2.05 billion to $2.11 billion, with American Woodmark expected to contribute $730 million at the midpoint, and adjusted EBITDA of $129 million to $149 million. Management also announced two plant closures to begin rightsizing the combined manufacturing footprint and reiterated a net leverage target below 2.0x by the end of 2028.

MasterBrand has issued its second-half 2026 net sales outlook of $2.05 billion to $2.11 billion following the completion of its merger with American Woodmark. CEO R. Banyard said the combined company generated net sales of $815 million in the second quarter, including $126 million from American Woodmark since the May 28 close, while legacy MasterBrand net sales were $690 million. Adjusted EBITDA for the quarter was $63 million with a 7.7% margin, and the company has already executed approximately $30 million of annualized cost synergies, raising its year-three run-rate target to over $100 million. CFO Andrea Simon added that second-half adjusted EBITDA is expected between $129 million and $149 million, and the company aims to reduce net leverage below 2x by the end of 2028.