Griffon raises FY2023 EBITDA guidance to $525M; reports Q2 adjusted EPS $1.21 on $711M revenue

GRIFFON CORP

2023-Q2 EPS reported -$0.26 revenue$1,360,368,000

Q2 adjusted EPS $1.21 vs $1.36 YoY; revenue $711M (-9% YoY); GAAP loss $62.3M due to $132.8M impairment charges.
CPP segment revenue -24% to $314.3M; adjusted EBITDA $19.6M (down from $47.8M).
HBP segment revenue +8% to $396.7M; adjusted EBITDA +26% to $131.9M on favorable pricing and mix.
FY2023 EBITDA guidance raised to at least $525M (prior $500M); revenue guidance cut to $2.7B from $2.95B.
Dividend increased 25%; global sourcing expansion in CPP with estimated $120-130M charges through calendar 2024.

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 2023 second quarter ended March 31, 2023 results: revenue $711.0 million, net income a loss from continuing operations of $62.3 million, or $1.17 per share, EPS $1.21 per share. Guidance raised.

Period: the fiscal 2023 second quarter ended March 31, 2023
Revenue: $711.0 million
Net income: a loss from continuing operations of $62.3 million, or $1.17 per share
EPS: $1.21 per share
Guidance: raised
Result: reported results

Exact text from the filing

Griffon Corporation (“Griffon” or the “Company”) (NYSE:GFF) today reported results for the fiscal 2023 second quarter ended March 31, 2023. Revenue for the second quarter totaled $711.0 million, a 9% decrease compared to $779.6 million in the prior year quarter.

View on SEC.gov

Browse all earnings releases →

GRIFFON CORP filing history →

Source: SEC EDGAR

accession 0000050725-23-000036

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.