Griffon Corporation (GFF) is well-poised for growth in the coming quarters, courtesy of strength across the Home and Building Products (HBP) segment. The company's efforts to reward its shareholders handsomely add to its appeal.Based in New York, Griffon Corporation is a diversified holding company with exposure in several industries. The company engages in the manufacture and sale of a wide range of consumer and professional, and home and building products, including garage doors, shutters, materials for d ...

As Griffon Corporation (NYSE: GFF ) exited the year, it saw growth across both of its segments due to volume recovery in certain parts of the business, primarily in the residential business of the HBP segment. DespiteAs a finance enthusiast with years of experience in research, I am deeply engaged in studying diverse businesses, especially in the technology, industrial, and conglomerate sectors. I really like companies that have strong foundations and see them doing well in the long run. I enjoy writing abo ...

Griffon (GFF) ended the recent trading session at $72, demonstrating a -0.25% swing from the preceding day's closing price. This change lagged the S&P 500's daily loss of 0.09%. On the other hand, the Dow registered a gain of 0.04%, and the technology-centric Nasdaq decreased by 0.1%.The the stock of garage door and building products maker has fallen by 9.06% in the past month, lagging the Conglomerates sector's loss of 5.11% and the S&P 500's loss of 0.29%.The investment community will be paying close atte ...

It has been about a month since the last earnings report for Griffon (GFF) . Shares have added about 2.1% in that time frame, outperforming the S&P 500.Will the recent positive trend continue leading up to its next earnings release, or is Griffon due for a pullback? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important drivers. Griffon’s Q4 Earnings Top Estimates, Revenues Rise Y/YGr ...

In the latest trading session, Griffon (GFF) closed at $79.04, marking a -1.01% move from the previous day. This change lagged the S&P 500's 0.54% loss on the day. Meanwhile, the Dow lost 0.53%, and the Nasdaq, a tech-heavy index, lost 0.66%.The the stock of garage door and building products maker has fallen by 0.83% in the past month, leading the Conglomerates sector's loss of 3.9% and undershooting the S&P 500's gain of 1.5%.The investment community will be closely monitoring the performance of Griffon in ...

Acquisitions and Divestitures - Griffon's subsidiary AMES acquired Pope, a leading Australian provider of residential watering products, for approximately AUD 21,800 (approximately $14,500) in cash, expected to contribute approximately $25,000 in revenue in the first twelve months[11] - Griffon completed the sale of its Defense Electronics segment (Telephonics) for $330,000 in cash, excluding customary post-closing adjustments[12] - Griffon acquired Hunter, a market leader in residential ceiling, commercial, and industrial fans, for a contractual purchase price of $845,000[13] Global Sourcing and Facility Optimization - CPP expanded its global sourcing strategy, resulting in a facility footprint reduction of approximately 1.2 million square feet (15% of CPP's square footage) and a headcount reduction of approximately 600[16] - CPP aims to achieve a 15% EBITDA margin through its asset-light business model, leveraging global supplier relationships and reducing capital expenditures[17] - Implementation of CPP's global sourcing strategy resulted in charges of $133,777, including $51,082 in cash charges and $82,695 in non-cash charges[18] - CPP's reliance on Chinese suppliers increased due to its global sourcing strategy, exposing it to risks from U.S.-China trade disputes and tariffs[112][114] - CPP is developing multiple suppliers outside China to mitigate risks from tariffs and supply chain disruptions[114] - The expansion of CPP's global sourcing strategy includes long-handled tools, material handling, and wood storage products for the U.S. market[109][124] - CPP's global sourcing strategy has reduced its facility footprint by 1.2 million square feet (15% of total square footage) and resulted in a headcount reduction of 600 employees[127] Clopay Operations and Market Position - Clopay, part of the HBP segment, is the largest manufacturer and marketer of residential and commercial garage doors in North America, with approximately 3,000 employees[24][25] - Clopay's sales are driven by home remodeling, commercial construction, and new residential housing construction, with strong relationships with major retailers like Home Depot and Menards[24][30] - Clopay operates 56 distribution centers across the U.S. and Canada, supporting quick-ship services to retail and professional dealer customers[29] - Clopay's product development focuses on strength, design, performance, durability, and energy efficiency, supported by in-house technical development centers[32] - Clopay operates manufacturing facilities totaling 1,582,000 square feet in Troy and Russia, Ohio, 279,000 square feet in Mountain Top, Pennsylvania, and 163,000 square feet in Goodyear, Arizona, with a distribution network of 56 centers covering approximately 1,200,000 square feet[38] CPP Brand and Product Portfolio - CPP (Consumer and Professional Products) employs approximately 2,300 employees worldwide and operates under globally recognized brands such as AMES, Hunter, and ClosetMaid[39][40] - CPP's brand portfolio includes over 20 recognized brands across long-handled tools, outdoor décor, home organization, and fans, with key brands like AMES®, True Temper®, and Hunter Fan®[42] - CPP's product portfolio spans six core categories: seasonal outdoor tools, project tools, outdoor décor and watering, home organization, fans, and cleaning products, with market-leading positions in each[44] - CPP's largest customers include Home Depot, Lowe's, and Bunnings, with Home Depot accounting for 15% of CPP's revenue in 2024[72] Manufacturing and Distribution Facilities - CPP operates principal manufacturing facilities in Ocala, Florida (676,000 square feet) and St. Francois, Quebec (353,000 square feet), with additional facilities in China and Australia[65] - CPP's distribution network includes a 1.4 million square foot facility in Carlisle, Pennsylvania, a 997,000 square foot facility in Reno, Nevada, and a 600,000 square foot facility in Byhalia, Mississippi[66] - Griffon's manufacturing facilities are concentrated in a few locations, with some third-party facilities located abroad in low-cost regions[153] Financial Performance and Seasonality - Griffon's revenue and earnings are generally lowest in the first and fourth quarters, with 52% of CPP's sales occurring in the second and third quarters in 2024, compared to 54% in 2023 and 58% in 2022[74] - 52% of CPP's sales occurred during the second and third quarters of 2024, compared to 54% in 2023 and 58% in 2022[130] - Approximately 61% of Griffon's consolidated revenue in FY2024 was derived from the HBP segment, while 39% came from the CPP segment[98] - The annual inflation rate in the U.S. decreased to 3.5% for the twelve months ended September 30, 2024, down from 3.7% in the previous year[100] - Home Depot accounted for 11% of Griffon's consolidated revenue, 8% of HBP's revenue, and 15% of CPP's revenue in FY2024[106] Environmental, Social, and Governance (ESG) Initiatives - Griffon aims to reduce carbon emissions, air emissions, water consumption, hazardous waste, lost time rates, and recordable injury rates by 30% by 2030[83] - Approximately 70% of the steel used in HBP's garage doors is recycled steel[85] - Griffon has invested over $1 million in employee welfare facilities, including break areas and cafeterias[87] - U.S. employees own approximately 9% of Griffon stock through the Employee Stock Ownership Plan[88] - Griffon's Supplier Code of Conduct (SCC) requires suppliers to comply with environmental, social, and governance (ESG) goals, with audits phased in over several years[89] Intellectual Property and Innovation - Griffon's HBP and CPP businesses hold approximately 1,596 registered trademarks and 140 pending trademark applications worldwide[80] - HBP holds 56 issued patents and 24 pending patent applications in the U.S., while CPP has 782 issued patents and 245 pending patent applications in the U.S.[81] - Griffon relies on a combination of patent, copyright, trademark laws, and trade secrets to protect proprietary rights, but these measures may not be absolute[172] - Griffon's success depends on its ability to develop and commercialize innovative new products, with risks including development costs and market acceptance[166] Risks and Challenges - Demand for lawn and garden products is highly influenced by weather, with adverse weather patterns potentially reducing AMES' sales volume[75] - CPP's ability to import products may be affected by port conditions, transportation issues, and geopolitical conflicts, such as the Russia-Ukraine war[123] - Griffon faces risks related to product liability and warranty claims, which could increase in frequency and severity, potentially impacting profitability[177] - Griffon's international operations are subject to anti-corruption laws, export controls, and economic sanctions, with potential severe penalties for violations[171] - Griffon's product development efforts face risks such as budget overruns, delays, and failure to achieve market acceptance, which could adversely affect financial results[168] - Griffon's supply chain is vulnerable to disruptions, which could impact profitability, contract termination, fines, and harm to the company's reputation[164] - Griffon is exposed to environmental laws and regulations, with potential material expenditures or liabilities related to environmental claims[180] Financial Structure and Debt - Griffon's senior notes are not due until 2028, with a $800 million Term Loan B (current balance of $457 million) due in 2029 and a $500 million revolving line of credit maturing in 2028[143] - Griffon recorded a non-cash, pre-tax indefinite-lived intangible assets impairment of $109,200 in fiscal year 2023, resulting in a $1.49 decrease in earnings per share[162] - Griffon is authorized to issue up to 85,000,000 shares of common stock, with 48,303,240 shares outstanding as of September 30, 2024[151] International Operations - Griffon's non-U.S. businesses are primarily located in Canada, Australia, the U.K., Ireland, and China[77] - Griffon's non-U.S. sales accounted for approximately 16% of consolidated revenue for the year ended September 30, 2024[170] - A 100 basis point change in SONIA, SOFR, CORRA, or BBSY would not have a material impact on Griffon's results of operations or liquidity[338] - A 10% change in the value of all applicable foreign currencies would not have a material effect on Griffon's financial position and cash flows[339] Employee and Labor Relations - Griffon Corporation employs approximately 5,300 employees globally as of September 30, 2024, with 158 employees in Canada represented by the Trade Union Advisory Committee[68][69] - Griffon employed approximately 5,300 full-time employees as of September 30, 2024, with 3% covered by collective bargaining agreements[133] Advertising and Promotion - Griffon's advertising and promotion spend may not deliver anticipated results, potentially impacting operating results[158] Impairment and Financial Reporting - Griffon's annual impairment testing for fiscal year 2024 did not result in any impairments to goodwill or indefinite-lived intangible assets[162]

Griffon Corporation (NYSE:GFF) Q4 2024 Earnings Conference Call November 13, 2024 8:30 AM ET Company Participants Brian Harris - Chief Financial Officer Ron Kramer - Chairman & Chief Executive Officer Conference Call Participants Lee Jagoda - CJS Securities Sam Darkatsh - Raymond James Trey Grooms - Stephens Julio Romero - Sidoti & Company Operator Ladies and gentlemen, good morning and welcome to the Griffon Corporation Annual and Fiscal Fourth Quarter Financial Results Conference Call. At this time, all p ...

Griffon (GFF) came out with quarterly earnings of $1.47 per share, beating the Zacks Consensus Estimate of $1.21 per share. This compares to earnings of $1.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 21.49%. A quarter ago, it was expected that this garage door and building products maker would post earnings of $1.46 per share when it actually produced earnings of $1.24, delivering a surprise of -15.07%.Over the last fou ...

Griffon Corporation Announces Annual and Fourth Quarter Results NEW YORK, NEW YORK, November 13, 2024 – Griffon Corporation ("Griffon" or the "Company") (NYSE:GFF) today reported results for the fiscal year and fourth quarter ended September 30, 2024. Revenue for fiscal 2024 totaled $2.6 billion, a 2% decrease compared to the $2.7 billion in the prior year. Fiscal 2024 net income totaled $209.9 million, or $4.23 per share, compared to $77.6 million, or $1.42 per share, in the prior year. Excluding all items ...

As Griffon Corporation (NYSE: GFF ) entered the second half of the year, its topline continued the downward trend with a mid-single-digit decline in the third quarter, primarily due to weak commercial end market demand. I expect this weakness to continue forAs a finance enthusiast with years of experience in research, I am deeply engaged in studying diverse businesses, especially in the technology, industrial, and conglomerate sectors. I really like companies that have strong foundations and see them doing ...