Masonite International Corporation's 2Q net sales decreased 11% to $500 million, from $563 million in the comparable period of 2019. The decrease in net sales was the result of a 15% decrease in base volume due to the impact of COVID-19, a 1% decrease from the net impact of a divestiture and an acquisition, a 1% decrease in the sale of components and other products and a 1% decrease due to foreign exchange, partially offset by a 7% increase in average unit price (AUP).
Total company gross profit increased 6% to $136 million in the second quarter of 2020 compared to $129 million in the second quarter of 2019. Gross profit margin increased 440 basis points to 27.3%, driven by higher AUP and prior year restructuring actions, partially offset by the impact of lower volume, higher manufacturing wages and benefits and a portion of our planned 5-year $100 million reinvestment in the business related to our pricing strategy. Increased savings from material sourcing projects offset the combined impact of inflation and tariffs in the quarter.
Net income increased $10 million to $34 million in the second quarter of 2020. Adjusted EBITDA increased to $92 million in the second quarter of 2020 from $80 million in the second quarter of 2019.
Masonite International Corporation is a leading global designer, manufacturer and distributor of interior and exterior doors for the new construction and repair, renovation and remodeling sectors of the residential and non-residential building construction markets.
