Griffon reports FY2022 adjusted EBITDA $458M (+86%), GAAP loss due to $455M impairment; strategic review ongoing

GRIFFON CORP

2022-FY EPS reported -$3.71 revenue$2,848,488,000

FY2022 revenue $2.8B (+25% YoY); adjusted EPS $4.07 vs $1.68; GAAP loss $5.57/share on $454.8M non-cash goodwill impairment in CPP segment.
Q4 revenue $709M (+24%); adjusted EPS $1.09 vs $0.33; adjusted EBITDA $125M (+135%).
Home & Building Products adjusted EBITDA $413M (+128%) on 47% price/mix; CPP adjusted EBITDA fell 14% on lower volume.
2023 outlook: revenue $2.95B, adjusted EBITDA at least $500M (excl. ~$56M unallocated & $16M strategic costs), free cash flow to exceed net income.
Strategic alternatives review active, led by independent committee with Goldman Sachs; no assurance of transaction.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GRIFFON CORP reported the fiscal year ended September 30, 2022 results: revenue $2.8 billion, net income loss from continuing operations in 2022 was $287.7 million, EPS $5.57 per share.

Period: the fiscal year ended September 30, 2022
Revenue: $2.8 billion
Net income: loss from continuing operations in 2022 was $287.7 million
EPS: $5.57 per share
Result: reported results

Exact text from the filing

Revenue for Fiscal 2022 totaled $2.8 billion, a 25% increase compared to the $2.3 billion in the prior year. As a result of a non-cash impairment charge of $454.8 million , net of tax, or $8.43 per share, taken in the fiscal 2022 fourth quarter, and other items that affect comparability in both 2022 and 2021, loss from continuing operations in 2022 was $287.7 million, or $5.57 per share, compared to income from continuing operations of $70.3 million, or $1.32 per share, in the prior year.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GRIFFON CORP reported the fourth quarter ended September 30, 2022 results: revenue $709 million, net income loss from continuing operations in the fourth quarter was $415.4 million, EPS $7.97 per share.

Period: the fourth quarter ended September 30, 2022
Revenue: $709 million
Net income: loss from continuing operations in the fourth quarter was $415.4 million
EPS: $7.97 per share
Result: reported results

Exact text from the filing

Revenue for the fourth quarter totaled $709 million

View on SEC.gov

Browse all earnings releases →

GRIFFON CORP filing history →

Source: SEC EDGAR

accession 0000050725-22-000074

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.