secwatch.observer — SEC 8-K summary
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Issuer:     GRIFFON CORP (GFF)
CIK:        0000050725
Form:       8-K
Filed at:   2023-05-03T23:59:59+00:00
Accession:  0000050725-23-000036
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/50725/000005072523000036/0000050725-23-000036-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/50725/000005072523000036/gff-20230503.htm
  HTML page:      https://secwatch.observer/filing/0000050725-23-000036

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