Griffon Corp reports record FY2021; revenue $2.3B (+10%), adjusted EPS $1.86, explores Telephonics sale

GRIFFON CORP

2021-FY EPS reported $1.48 revenue$2,270,626,000

Fiscal 2021 revenue from continuing ops $2.3B (+10% YoY); net income $79.2M ($1.48) vs $53.4M ($1.19).
Adjusted income from continuing ops $90.6M ($1.70); Adjusted EBITDA $248M (+18%).
Telephonics (Defense Electronics) classified as discontinued ops, held for sale; strategic alternatives underway.
CPP segment revenue $1.23B (+8%), HBP $1.04B (+12%); CPP strategic initiative expanded globally, $30-35M annual savings targeted.
Board proposes declassification and lower special meeting threshold; targets 40% diverse independent directors by 2025.

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