secwatch.observer — SEC 8-K summary
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Issuer:     GRIFFON CORP (GFF)
CIK:        0000050725
Form:       8-K
Filed at:   2022-11-17T23:59:59+00:00
Accession:  0000050725-22-000074
Event type: earnings
Sentiment:  neutral
Materiality: 0.78
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/50725/000005072522000074/0000050725-22-000074-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/50725/000005072522000074/gff-20221117.htm
  HTML page:      https://secwatch.observer/filing/0000050725-22-000074

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