Masonite International Corp (NYSE:DOOR) stock fell 0.0077% (As on February 20, 11:18:05 AM UTC-4, Source: Google Finance) after the company posted mixed results for the fourth quarter of FY 23. Total Company gross profit was $151 million in the fourth quarter of 2023, an increase of 6%. Gross profit margin increased 170 basis points year over year to 22.9%, due to effective price-cost management, which was enough to offset the impact of lower volumes and inflation on wages, benefits and overhead. Net loss attributable to Masonite was $10 million in the fourth quarter of 2023 compared to net income of $31 million in the fourth quarter of 2022. The decrease was primarily driven by $33 million in charges related to goodwill impairment in the Europe reporting unit. Adjusted EBITDA of $87 million in the fourth quarter of 2023 decreased 5% from $91 million. At the end of the fourth quarter, total available liquidity was $437 million, inclusive of $300 million of availability under the ABL Facility and AR Sales Program and $137 million in unrestricted cash. Cash flow from operations was $408 million in 2023, up from $189 million in the comparable period of 2022. Capital expenditures were $113 million in the year ended December 31, 2023, down from $114 million in the comparable period of 2022.

DDOR in the fourth quarter of FY 23 has reported the adjusted earnings per share of $1.31, missing the analysts’ estimates for the adjusted earnings per share of $1.36, according to Zacks Investment Research. The company had reported 2 percent decline in the adjusted revenue growth to $660.6 million in the fourth quarter of FY 23, beating the analysts’ estimates for revenue of $659.9 million. This is driven by an 11% decrease in organic volume and a 2% decrease in average unit price (AUP), partially offset by a 10% increase from acquisitions and a 1% increase from favorable foreign exchange. North American Residential net sales were $538 million, a 2% increase, driven by a 13% increase from acquisitions, partially offset by a 9% decrease in organic volume and 2% lower AUP. Europe net sales were $53 million, a 13% decrease, driven by a 14% decrease in volume and a 4% decrease in AUP, partially offset by a 5% increase due to favorable foreign exchange. Architectural net sales were $67 million, a 19% decrease, driven by a 24% decrease in volume and component sales, partially offset by a 5% increase in AUP.