secwatch.observer — SEC 8-K summary
======================================

Issuer:     GRIFFON CORP (GFF)
CIK:        0000050725
Form:       8-K
Filed at:   2024-02-07T23:59:59+00:00
Accession:  0000050725-24-000007
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Griffon Q1 adjusted EPS $1.07 vs $0.86 YoY; revenue down 1% to $643M
--------------------------------------------------------------------

- Net income $42.2M ($0.82 GAAP EPS); adjusted net income $55.3M ($1.07 adjusted EPS), up from $0.86 YoY.
- Adjusted EBITDA $116.4M, up 7% YoY; HBP segment steady, CPP improved to $5.5M from $(1.8)M.
- Free cash flow $132.5M for Q1; share repurchases of $69.6M (1.6M shares at avg $42.61).
- Net debt $1.33B; leverage 2.5x vs 2.7x a year ago; $237.5M remaining buyback authorization.
- CPP global sourcing expansion on track; final facility expected to close by March 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/50725/000005072524000007/0000050725-24-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/50725/000005072524000007/gff-20240207.htm
  HTML page:      https://secwatch.observer/filing/0000050725-24-000007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer