Financial Data and Key Metrics Changes - Net sales in Q2 2023 were $695.1 million, an 18.8% decline from $855.6 million in Q2 2022, aligning with expectations [24] - Adjusted EBITDA was flat year-over-year at $106.3 million compared to $106.8 million in Q2 2022, with adjusted EBITDA margin expanding by 281 basis points to 15.3% [8][29] - Free cash flow increased by 82% to $123.4 million in Q2 2023, up from the previous year [10][33] - Net income rose to $51.2 million, a 25.2% increase from $40.9 million in the same period last year [28] Business Line Data and Key Metrics Changes - The new construction market showed sequential demand increase, benefiting from a pause in interest rate hikes, while the repair and remodel market experienced a slight decline in point-of-sale activity [11][12] - The U.S. retail channel was largely in line with expectations, but dealer customers reported consumers being more budget-conscious and seeking multiple quotes [13][57] - Canadian market performance was below expectations, with anticipated weakness continuing into the second half of 2023 [14] Market Data and Key Metrics Changes - The new construction market is trending better, while the repair and remodel market is expected to remain soft for the remainder of 2023 [15][35] - The company noted that consumer spending is shifting towards vacations, impacting remodeling project decisions [56] Company Strategy and Development Direction - The company is focused on strategic initiatives such as Align to Grow, Lead Through Lean, and Tech Enabled to drive operational excellence and future growth [10][15] - Investments in technology and supply chain optimization are expected to enhance efficiency and support growth initiatives [17][20] - The company plans to increase investment spending for 2023, raising the adjusted EBITDA outlook to $345 million to $365 million [36] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to maintain or expand adjusted EBITDA margins year-over-year despite a softer demand environment [36] - The company anticipates mid-teens year-over-year decline in net sales for the second half of 2023, with expectations of normal seasonality [35] - Management highlighted the importance of preparing for future growth during the current softer demand period [21][39] Other Important Information - The company published its inaugural environmental, social, and governance (ESG) report and was recognized as one of America's Safest Companies [22][23] - The company has initiated a stock repurchase program, repurchasing 404,858 shares at a cost of approximately $4.4 million [34] Q&A Session Summary Question: Impact of pricing in the back half of the year - Management indicated a return to a normal pricing environment without the need for price increases, utilizing a breadth of product offerings to meet customer needs [42][43] Question: Trade down impact on top line declines - Management acknowledged trade downs as a factor but stated it was in line with expectations and not materially impactful [45] Question: ERP system modernization - Management noted that there are about 5 to 6 more facilities that require modernization to improve data clarity and efficiency [46][47] Question: Margin walk for the second half of the year - Management highlighted expected revenue declines and increased investments, with historical patterns indicating lower profitability in the fourth quarter [52][54] Question: Changes in project size or cancellations - Management reported no significant cancellations but noted consumers are more selective and may be delaying projects [56][58] Question: Lag between housing starts and sales - Management indicated that the lag continues to decrease, with a normalized pace expected by the end of the year [61] Question: Input cost quantification and inventory flow - Management stated that material costs represent about 50% of cost of sales, with inventory costs aligning with new incoming inventory [63][66] Question: Growth relative to the market - Management believes growth will be on par with the market, with ongoing investments aimed at accelerating growth in 2024 [67][70]

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-41545 MasterBrand, Inc. Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 25, 2023 OR (Exact name of registrant as specified in its charter) Delaware 88-3479920 (State or other jurisdiction of incorporation or organiza ...

MasterBrand, Inc. (NYSE:MBC) Q1 2023 Earnings Conference Call May 9, 2023 4:30 AM ET Company Participants Farand Pawlak - Vice President of Investor Relations & Corporate Communication Dave Banyard - President & Chief Executive Officer Andi Simon - Executive Vice President & Chief Financial Officer Conference Call Participants Adam Baumgarten - Zelman Garik Shmois - Loop Capital Markets Operator Welcome to MasterBrand's First Quarter 2023 Earnings Conference Call. During the company's prepared remarks, all ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 26, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-41545 MasterBrand, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Emplo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 25, 2022 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) One MasterBrand Cabinets Dr. Jasper, Indiana 47547 (Address of Principal Executive Offices) (Zip Code) 812-482-2527 (Registrant's telephone number, including area code) OR o TRANSIT ...

MasterBrand Inc. (NYSE:MBC) Q4 2022 Results Conference Call March 7, 2023 4:30 PM ET Company Participants Farand Pawlak - Vice President of Investor Relations and Corporate Communication Dave Banyard - President and Chief Executive Officer Andi Simon - Executive Vice President and Chief Financial Officer Conference Call Participants Adam Baumgarten - Zelman Garik Shmois - Loop Capital Markets Tom Mahoney - Cleveland Research Tim Wojs - Baird Operator Welcome to MasterBrand's Fourth Quarter and Full Year 202 ...