BEACHWOOD, Ohio → MasterBrand Inc., No. 7 in the FDMC 300, reported net income of $45.3 million on net sales of $675.5 million for the second quarter ended June 30. Net income and net sales were each down from the same period last year by 11.5% and 2.7% respectively.

MasterBrand, the nation’s largest manufacturer of residential cabinets, attributed the drop in Q2 earnings to a combination of circumstances including lower net sales, higher interest expense, the result of a non-recurring expense related to the restructuring of debt, and acquisition and transaction related costs, slightly offset by a lower effective tax rate.

“MasterBrand delivered another solid quarter of financial performance, with continued year-over-year adjusted EBITDA margin expansion and strong free cash flow,” said Dave Banyard, president and CEO Officer. “Our performance is again the result of our associates’ dedication to The MasterBrand Way and their execution on our strategy. Further investments in our strategic initiatives, complemented by acquisitions such as Supreme Cabinetry Brands, give us confidence in our ability to outperform the market, achieve our long-term financial targets, and deliver sustained shareholder value.”

For full year 2024, the MasterBrand has increased its outlook following the closing of the Supreme Cabinetry Brands acquisition. On a consolidated basis the company expects a net sales year-over-year increase of low single-digit percentage in spite of a projected organic decline of low single-digit percentage.

MasterBrand's portfolio includes approximately 20 cabinet brands including Aristokraft, Bertch, Fieldstone and Schrock.