MasterBrand (NYSE:MBC) expects weaker cabinet demand and rising costs to hurt fourth-quarter results. The company also pushed back its debt-reduction target by a year, to 2029. It forecast fourth-quarter sales of $958 million to $988 million and adjusted EBITDA of $38 million to $48 million, down from $86 million in the third quarter. It now expects its end markets to fall by a high-single-digit percentage in 2026. Third-quarter net sales were $1.04 billion, including $355.7 million from American Woodmark, its merger partner. The company posted a net loss of $9.2 million, against net income of $18.1 million a year earlier. Integration is ahead of schedule, with more than $50 million in annual run-rate savings initiated or completed.

MasterBrand shares fell 5.6% in premarket trading Monday after the cabinet maker said chief financial officer Andrea Simon is leaving. Mark Young, vice president and chief accounting officer, will serve as interim CFO while the company searches for a permanent successor. It has hired Russell Reynolds Associates to find candidates inside and outside the company. MasterBrand said Simon's exit is not tied to any issues with its financial statements or accounting policies. Young joined in 2022 and previously led global accounting at Cooper Tire & Rubber Company. "Her leadership helped establish MasterBrand as a standalone public company, and now is the right time to make this transition," said chief executive officer Dave Banyard. The move comes as MasterBrand integrates its merger with American Woodmark.