MASONITE INTERNATIONAL CORP : Costs Associated with Exit or Disposal Activities (form 8-K)

Item 2.05 Costs associated with eviction or disposal activities.

upon December 27, 2022, Masonite International Corporation (the “Company”) has approved plans to (i) better align its organizational structure and long-term business strategy and (ii) continue to drive cost efficiencies through an optimized manufacturing footprint. Did. This plan includes initiating certain restructuring actions across our North American residential and construction divisions (“2022 Restructuring Plan”).

The Company expects to incur pre-tax restructuring and other closing costs.
$15.0 To $20 million This relates to the 2022 restructuring plan, which runs from the fourth quarter of 2022 through fiscal 2023, of which approximately 65% ​​will be cash expenditures. The 2022 restructuring plan, once fully implemented, is intended to help improve the company’s profitability and cash flow.We aim to complete these actions by the end of fiscal 2023, resulting in approximately $15.0 To $20 million afterwards. The above costs are approximate and actual costs may vary significantly depending on a variety of factors.

The company plans to discuss its 2022 restructuring plans in greater detail during its fourth quarter 2022 corporate earnings call.

Forward-Looking Statements

This current report on Form 8-K contains “forward-looking statements” within the meaning of federal securities laws. Projected costs and timeline for 2022 restructuring plan. and our ability to achieve savings related to our 2022 restructuring plan. When used in this current report on Form 8-K, such forward-looking statements do not mean “may,” “could,” “could,” May be identified by the use of words such as “is”, “could”, and “could”. “expect”, “believe”, “prospect”, “predict”, “predict”, “objective”, “maintain”, “predict”, “estimate”, “probability”, “continue” “to”, “plan”, “project”, “targeting” or negation of these terms or other similar terms.

Forward-looking statements involve significant known and unknown risks, uncertainties and actual results, performance or achievements of Masonite or the results of the industry, which may affect future plans, goals, targets, objectives, results or performance. and other factors that can vary significantly. or results expressed or implied by such forward-looking statements. As a result, such forward-looking statements should not be construed as guarantees of future performance or results, should not be relied upon unduly, and should not necessarily be regarded as accurate as to whether such results will be achieved. Factors that could cause actual results to differ materially from those set forth in forward-looking statements include “Risk Factors” and “Management’s Statement of Financial Condition and Results of Operations.” including, but not limited to, information under the caption “Discussion and Analysis”. and the “forward-looking statements” in the most recent Annual Report on Form 10-K filed in the United States.
SEC upon February 24, 2022in each case updated by subsequent submissions to the authorities SECMesonite undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

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