Griffon Q3 adj. EPS $1.29 beats; raises FY EBITDA guidance to $550M

GRIFFON CORP

2023-Q3 EPS reported $0.65 revenue$2,043,798,000

Revenue $683.4M (-11% YoY); GAAP EPS $0.90; adjusted EPS $1.29 vs $1.23 YoY.
Adjusted EBITDA $138.6M (+3% YoY); HBP segment adj. EBITDA up 12% to $134.3M.
CPP revenue down 22%; announces global sourcing expansion with $120-130M charges over 18 months.
FY 2023 adjusted EBITDA guidance raised to $550M from at least $525M; revenue reaffirmed at $2.7B.
Repurchased 2.5M shares (4.4% of outstanding) at avg $33.58; $172.6M remaining on buyback authorization.

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 fiscal 2023 third quarter ended June 30, 2023 results: revenue $683.4 million, net income $49.2 million, EPS $0.90 per share. Guidance raised.

Period: fiscal 2023 third quarter ended June 30, 2023
Revenue: $683.4 million
Net income: $49.2 million
EPS: $0.90 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 third quarter ended June 30, 2023. Revenue for the third quarter totaled $683.4 million, an 11% decrease compared to $768.2 million in the prior year quarter. Income from continuing operations totaled $49.2 million, or $0.90 per share, compared to $52.8 million, or $0.98 per share, in the prior year quarter.

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Source: SEC EDGAR

accession 0000050725-23-000045

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