earnings
confidence high
sentiment neutral
materiality 0.75
Griffon Q1 EPS $0.31 misses $0.48 YoY; closes $845M Hunter Fan acquisition
GRIFFON CORP
2022-Q1 EPS reported
$0.36
revenue$591,749,000
- Revenue $591.7M (+9% YoY); GAAP EPS $0.31 vs $0.48; adjusted EPS $0.39 vs $0.50.
- Completed $845M Hunter Fan acquisition on Jan 24; expects ~$400M revenue, $90M EBITDA in first full year.
- Telephonics strategic review ongoing; sale anticipated by March 2022.
- CPP segment revenue -3% to $283.2M on supply chain; HBP +23% to $308.6M on pricing.
- Adjusted EBITDA $59.6M (-13% YoY); leverage 3.3x; $58M share repurchase remaining.