Griffon Q2 revenue $779.6M (+36% YoY); sells Telephonics for $330M cash

GRIFFON CORP

2022-Q2 EPS reported $1.59 revenue$1,371,366,000

Revenue $779.6M (+36% YoY); adjusted EPS $1.37 vs $0.47; adjusted EBITDA $139.6M (+113%).
HBP revenue $368.6M (+52%), CPP $411.0M (+24% incl. Hunter); Q2 net income $58.6M ($1.10).
Definitive agreement to sell Telephonics to TTM for $330M cash; expected close in Q2 2022.
Updated CPP strategic initiative: now expects $25M annual savings, $50M charges, $15M capex; complete by FY2022 end.
Hunter acquisition completed Jan 24 for ~$845M; expects $400M revenue and $90M EBITDA in first full year.

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