earnings
confidence high
sentiment positive
materiality 0.75
Griffon Q3 revenue up 7% to $481.4M; EPS $1.47 vs loss; completes AMES JVs
GRIFFON CORP
- Revenue $481.4M (+7% YoY); income from cont ops $66.3M ($1.47 EPS) vs prior year loss of $108.7M ($2.40 loss).
- Adjusted EBITDA $124.8M (+2% YoY); FY2026 outlook: revenue $1.8B, adj EBITDA $458M, interest expense $80M.
- Completed AMES Australasia JV on July 31: received $181M cash, $49M PIK note, 49% equity; AMES North America JV on June 9: $100M cash, $161M PIK debt, 43% equity.
- Debt reduced $137M in quarter; net debt/EBITDA leverage 2.2x vs 2.5x prior year; repurchased 626k shares for $53.2M at avg $85.00.
- Returned $135M to shareholders YTD through dividends and buybacks; cash $110.4M, total debt $1.3B.