Masterbrand, Inc. · NYSE:MBC
Masterbrand — Q2 2025 Earnings Presentation
22 slides from Masterbrand's earnings presentation, Aug 6, 2025
Slide 1: Q2 2025 Investor Presentation
Q2 2025 Investor Presentation August 6, 2025
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements contained in this presentation, other than purely historical information, including, but not limited to, statements as to the likelihood and anticipated timing of the closing of the proposed transaction, expected cost synergies and other expected benefit
Slide 3: Additional Information and Where to Find It
Additional Information and Where to Find It MasterBrand intends to file with the U.S. Securities and Exchange Commission (“SEC”) a registration statement on Form S-4 (the “Registration Statement”), which will include a joint proxy statement of MasterBrand and American Woodmark that will also constit
Slide 4: MasterBrand Overview
MasterBrand Overview #1 North American residential cabinet manufacturer MasterBrand at a glance 1 MasterBrand key financial metrics $3.5 14% ~60% 11% 13% 14% $2.7 billion Net sales to R&R $3.0 11% 2024 Net sales 11% 12 % $2.5 10% 13,000+ $2.5 $2.9 $3.3 $2.7 $2.7 10% Employees $2.0 $2.4 $364 million
Slide 5: The MasterBrand Story
The MasterBrand Story O UR PU RPO SE O UR VISIO N O UR CU L TU R E Building great experiences together Build on our rich history by innovating Make the team better how we work and what we offer to Be bold delight our customers Champion improvement How? Tools that enable us to: PRE-SPIN-OFF Industry
Slide 6: CSR Highlights
ENVIRONMENTAL RESPONSIBILITY & SUSTAINABILITY We integrate environmental care into our business beliefs, which continually drive us to enhance the sustainability of our operations. At MasterBrand, we have built a foundation of doing what is right for people and the environment. Our sustainability jo
Slide 7: Industry Leading Customer Base
Industry Leading Customer Base MasterBrand channel mix 1 MasterBrand has a leadership position across channels… 13% Overview of primary sales channels in the US and Canada: Dealer Retailers / Home Dealer Channel Builder Channel Retail Center Channel 32% 55% Industry Channel Builder $7.3bn $3.4bn $1.
Slide 8: Multi-Branded Strategy Across Price Points and Products
Multi-Branded Strategy Across Price Points and Products MasterBrand offers the most MasterBrand portfolio by type and key brands diverse product portfolio and covers the price spectrum 1 Price point <$350 >$750 (per cabinet) 100% Stock /In-Stock Semi-Custom Custom/Premium 90% ~20% 80% 70% ~60% ~27%
Slide 9: Integrated Manufacturing Network & Strong Track Record of Continuous Improvement
Integrated Manufacturing Network & Strong Track Record of Continuous Improvement O L D MO D E L: 10+ product platform / plant silos ✓ Footprint optimization + + + Assets Capabilities Product Specs ✓ Proven tools of our business system, enable product N EW MO D E L: 4 construction-specific product pl
Slide 10: MasterBrand + American Woodmark: Compelling Strategic Combination with Clear Value Drivers
MasterBrand + American Woodmark: Compelling Strategic Combination with Clear Value Drivers Brings Together Two Highly Complementary American Businesses, Benefitting Customers, Associates, and Shareholders Enhances the Industry’s Most Diversified Portfolio of World-Class Brands and Products Covering
Slide 11: Q2 2025 Highlights
Q2 2025 Highlights Financial Results ($ in millions, except per share amounts) Q2 2025 Q2 2024 B/(W) • Top-line performance was primarily the result of the positive contribution from Supreme, which Net Sales $730.9 $676.5 8.0% continues to perform in line with our expectations, the flowthrough of an
Slide 12: Near-Term Expectations
Near-Term Expectations Full Year 2025 Outlook 1 Drivers MasterBrand • Mid-single-digit decrease in organic net sales y-o-y; Supreme to add mid-single Market Growth digits Low single-digit % decline • Organic net sales performance to outperform underlying market demand, as Net Sales new products and
Slide 13: Long-Term Financial Targets
Long-Term Financial Targets Long Term Outlook1 Market Growth MasterBrand 3-5% CAGR 4-6% CAGR North American Cabinets Market Net Sales ~16%-18% FY Adjusted EBITDA Margin2 Clear Path to Achieving Results 1. Business and portfolio aligned with the customer 2. Operational Excellence will fuel margin gro
Slide 14: Appendix
05 Appendix MasterBrand: Investor Day 2022
Slide 15: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement the financial information presented in accordance with generally accepted accounting principles in the United S tates (“GAAP”) in this presentation, certain non-GAAP financial measures as defined under SEC rules have been included. It is our intent to provid
Slide 16: Full Year Non-GAAP Reconciliations
Full Year Non-GAAP Reconciliations Fiscal Year Ended December 29, December 27, December 26, December 25, December 31, December 29, (In millions, except percentages) 2019 2020 2021 2022 2023 2024 Reconciliation of Net Income to EBITDA to ADJUSTED EBITDA Net income (GAAP) $ 100.7 $ 145.7 $ 182.6 $ 155
Slide 17: FY Non-GAAP Reconciliations Tick Legend
FY Non-GAAP Reconciliations Tick Legend [1] Acquisition-related costs are transaction and integration costs, including legal, accounting and other professional fees, severance, stock-based compensation, and other integration related costs. These charges are primarily recorded within selling, general
Slide 18: Q2 2025 Non-GAAP Reconciliations
Q2 2025 Non-GAAP Reconciliations 17 Note: See tick legend on slide 18
Slide 19: Q2 2025 Non-GAAP Reconciliations Tick Legend
Q2 2025 Non-GAAP Reconciliations Tick Legend [1] Restructuring charges are nonrecurring costs incurred to implement significant cost reduction initiatives and may consist of workforce reduction costs, facility closure costs, cessation of operations, and other costs to maintain certain facilities whe
Slide 20: Condensed Consolidated Balance Sheets
Non-GAAP Reconciliations CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) June 29, June 30, (U.S. Dollars presented in millions) 2025 2024 ASSETS Current assets Cash and cash equivalents ........................................................................................ $ 120.1 $ 189.4 Account
Slide 21: Condensed Consolidated Statements of Cash Flows
Non-GAAP Reconciliations CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) 26 Weeks Ended 26 Weeks Ended June 29, June 30, (U.S. Dollars presented in millions) 2025 2024 OPERATING ACTIVITIES Net income ........................................................................................
Slide 22: Prior Year to Current Year Net Sales Walk
Prior Year to Current Year Net Sales Walk 21