Masterbrand, Inc. · NYSE:MBC
Masterbrand — Q1 2026 Earnings Presentation
21 slides from Masterbrand's earnings presentation, May 5, 2026
Slide 1: Q1 2026 Investor Presentation
Q1 2026 Investor Presentation May 5, 2026 1
Slide 2: Forward Looking Statements
Forward Looking Statements Certain statements contained in this presentation, other than purely historical information, including, but not limited to estimates, projections, statements relating to our business plans, objectives and expected operating results, and the assumptions upon which those sta
Slide 3: MasterBrand Overview
MasterBrand Overview #1 North American residential cabinet manufacturer MasterBrand at a glance 1 MasterBrand key financial metrics ~60% $2.7 billion Net sales to R&R 2025 Net sales 12,500+ Employees $298 million 2025 Adjusted EBITDA2 20+ Manufacturing facilities 7,900+ 1 Dealer network 2 Key brands
Slide 4: The MasterBrand Story
The MasterBrand Story OUR PURPOSE OUR VISION OUR CULTURE 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 PRE-SPIN-OFF Industry Leader Product & Brand Portfolio Operati
Slide 5: Doing what is right for people and the environment
At MasterBrand, we have built a foundation of doing what is right for people and the We are committed to fulfilling our roles as good corporate citizens by seeking environment. Our sustainability journey is ongoing, and as our associates continue to improve our impact on the environment, ensuring th
Slide 6: Industry Leading Customer Base
Industry Leading Customer Base MasterBrand channel mix 1 MasterBrand has a leadership position across channels… Overview of primary sales channels in the US and Canada: Dealer Retailers / Home Center Retail Dealer Channel Builder Channel Channel Builder Primary End R&R / New Home New Home R&R Market
Slide 7: Multi-Branded Strategy Across Price Points and Products
Multi-Branded Strategy Across Price Points and Products 7
Slide 8: Integrated Manufacturing Network & Strong Track Record of Continuous Improvement
Integrated Manufacturing Network & Strong Track Record of Continuous Improvement O L D M O D E L : 10+ product platform / plant silos + + + Assets Capabilities Product Specs N E W M O D E L : 4 construction-specific product platforms Networked Capability duplication Aligned product manufactured alig
Slide 9: 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 Cabinet Brands and Products C
Slide 10: Q1 2026 Highlights
Q1 2026 Highlights Financial Results ($ in millions, except per share amounts) Q1 2026 Q1 2025 B/(W) • Top-line performance was primarily the $ 618.0 $ 660.3 result of a mid-single-digit market Net Sales (6.4)% $ 156.6 $ 202.2 decline and a slower pace of home Gross Profit (22.6)% 25.3 % 30.6 % comp
Slide 11: Near-Term Expectations
Near-Term Expectations Second Quarter 2026 Outlook1 • Q2 2026 end markets are expected to be down mid- to high-single- digits year-over-year. • Net Sales and Adjusted EBITDA2 ranges primarily reflect an anticipated modest improvement in product mix, further flow Market Growth MasterBrand through fro
Slide 12: Estimated Tariff Exposure and Impact
Estimated Tariff Exposure and Impact Full Year 2026 Tariff Impact Current Tariff Environment Gross Tariff Costs1 • Section 122 Tariff – General 10% global tariff replacing the Liberation Day Tariffs following the Supreme Court's decision in 5-6% of 2026 February. Scheduled to expire July 2026, Net S
Slide 13: Appendix
05 Appendix 13
Slide 14: Non-GAAP Financial Measures
Non-GAAP Financial Measures To supplement the financial information presented in accordance with generally accepted accounting principles in the United States (“GAAP”) in this presentation, certain non-GAAP financial measures as defined under SEC rules have been included. It is our intent to provide
Slide 15: Full Year Non-GAAP Reconciliations
Full Year Non-GAAP Reconciliations Fiscal Year Ended December December December December December December (In millions, except percentages) 27, 2020 26, 2021 25, 2022 31, 2023 29, 2024 28, 2025 Reconciliation of Net Income to EBITDA to ADJUSTED EBITDA Net Income (GAAP) $ 145.7 $ 182.6 $ 155.4 $ 182
Slide 16: 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 17: YTD 2026 Non-GAAP Reconciliations
YTD 2026 Non-GAAP Reconciliations SUPPLEMENTAL INFORMATION (Unaudited) 13 Weeks Ended 13 Weeks Ended March 29, March 30, (U.S. Dollars presented in millions, except per share amounts and percentages) 2026 2025 1. Reconciliation of Net (Loss) Income to EBITDA to Adjusted EBITDA Net (Loss) Income (GAA
Slide 18: YTD 2026 Non-GAAP Reconciliations Tick Legend
YTD 2026 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 19: Non-GAAP Reconciliations
Non-GAAP Reconciliations CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) March 29, March 30, (U.S. Dollars presented in millions) 2026 2025 ASSETS Current assets Cash and cash equivalents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 138.4 $ 113.5 Accounts receivabl
Slide 20: Non-GAAP Reconciliations
Non-GAAP Reconciliations CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) 13 Weeks Ended 13 Weeks Ended March 29, March 30, (U.S. Dollars presented in millions) 2026 2025 OPERATING ACTIVITIES Net (loss) income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Slide 21: Prior Year to Current Year Net Sales Walk
Prior Year to Current Year Net Sales Walk YTD % Change 2025 Net Sales (millions) $ 660.3 Volume (42.0) (6.4)% Net ASP1 (1.1) (0.2)% Foreign Currency 0.8 0.1 % 2026 Net Sales (millions) $ 618.0 (6.4)% 1 Net ASP (Average Selling Price) includes price/mix and other factors that could impact this measur