Masonite International Announces Restructuring Changes 
<p>Wedbush updated its estimates on <a href='https://financialmodelingprep.com/financial-summary/DOOR'>Masonite International Corporation (NYSE:DOOR)</a> for restructuring moves. The company announced on Dec 29 that it will incur one-time restructuring charges during Q4/22 that will result in incremental cost savings in future years. Masonite indicated in the Q3/22 conference call that it would be looking for cost-saving opportunities, especially in the Europe segment. </p>
<p>Management did not indicate in the release where the cost cuts were focused, and the analysts will look for more color on the Q4/22 conference call, presumably mid to late February 2023.</p>
<p>The analysts maintained their fiscal 2022 AEBITDA estimate of $456 million and lowered their 2022 GAAP EPS to $10.09 from $10.74. Their 2023/2024 AEBITDA moved to $481/$516 million which represents cost savings of approximately $15 million pretax in 2023 and $20 million pretax in 2024. The analysts maintained their Outperform rating and $115 price target on the company’s shares.</p>

NYSE:DOOR