Financial Data and Key Metrics Changes - Revenue increased by 2% year-over-year to $647 million, or 4% when excluding the SEG divestiture [5][18] - Adjusted EBITDA decreased by 7% to $65 million, while adjusted EBITDA margins increased by 100 basis points to 10% [18] - GAAP net income was $17 million, or $0.31 per share, compared to $22 million, or $0.50 per share in the prior year [21] - Adjusted net income was $23 million, or $0.43 per share, compared to $26 million, or $0.59 per share in the prior year [21] - Cash and equivalents stood at $221 million, with net debt of $835 million and leverage of 2.9 times, marking a 1.5 turn improvement from the prior year [15][23] Business Line Data and Key Metrics Changes - In the Consumer Professional Products (CPP) segment, robust demand was noted, although shipping delays impacted US revenue and EBITDA [11] - The Home and Building Products (HBP) segment saw strong demand for residential and commercial door products, with sales increasing due to higher volume and favorable pricing [12] - Defense Electronics revenue decreased due to reduced volume from timing of deliveries, but EBITDA increased due to reduced operating expenses [13] Market Data and Key Metrics Changes - Backlog increased to $375 million from $341 million year-over-year, with a trailing 12-month book-to-bill ratio of 1.1 times [14] - The housing market and consumer spending remained strong, supporting demand across product categories [6][25] Company Strategy and Development Direction - The AMES strategic initiative aims to consolidate operations, increase automation, and support e-commerce growth, expected to improve margins by the end of 2023 [8] - The company anticipates annual cash savings of $30 million to $35 million and inventory reductions of the same magnitude from the AMES initiative [9] - The company is focused on improving margins and capitalizing on acquisition opportunities while maintaining a strong balance sheet [28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand trends across all segments despite challenges from cost inflation and supply chain disruptions [26][25] - The company is closely monitoring the COVID-19 Delta variant and adjusting operations as necessary to ensure employee safety [10] - Management reiterated full-year guidance, expecting over $2.5 billion in revenue and $320 million in adjusted EBITDA [25] Other Important Information - The company declared a quarterly dividend of $0.08 per share, marking the 40th consecutive quarterly dividend [16] - The company has generated $212 million in free cash flow over the past three years and reduced leverage significantly [28] Q&A Session Summary Question: Raw material and transportation headwinds - Management acknowledged the impact of rising raw material costs and transportation delays, indicating a lag in passing through price increases [34][35] Question: M&A environment and capital allocation - Management noted that while capital is abundant, competition has driven up asset prices, and they are focused on improving existing operations rather than rushing into acquisitions [37][39] Question: Demand trends in DIY products - Management reported strong backlog levels, indicating continued demand despite signs of slowing in DIY products [43] Question: New product launches in HBP segment - New product launches in the HBP segment have been well received, contributing positively to sales [44] Question: Shipping delays and backlog - Management confirmed that shipping delays have pushed some revenue to later dates but demand remains strong across segments [51][52] Question: Pricing strength in HBP segment - Pricing strength in the HBP segment was attributed to passing through rising input costs and a favorable product mix [56] Question: Commercial growth in HBP - Management indicated strong growth in the commercial side of the HBP business, with expectations for further growth if an infrastructure bill is passed [62][63]

Griffon Griffon Q3 FY 2021 Investor Presentation July 2021 Cautionary Note Regarding Forward-Looking Statements This presentation contains "forward-looking statements" – statements that address future, not past events. In this context, forwardlooking statements often address our expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," or "will." Forward looking statements by their nature address m ...

Griffon Corporation (NYSE:GFF) Q2 2021 Earnings Conference Call April 29, 2021 4:30 PM ET Company Participants Brian Harris - Chief Financial Officer Ron Kramer - Chairman and CEO Conference Call Participants Bob Labick - CJS Securities Julio Romero - Sidoti & Company Josh Chan - Baird Justin Bergner - Gabelli & Company Keith Hughes - Truist Securities Trey Grooms - Stephens Operator Greetings. And welcome to Griffon Corporation’s Second Quarter 2021 Earnings Conference Call. At this time, all participants ...

Financial Data and Key Metrics Changes - The company reported a revenue increase of 11% to $609 million, adjusted EBITDA up 35% to $75 million, and adjusted EPS up 56% compared to the prior-year quarter [6][17] - Normalized gross profit for the quarter was $177 million, increasing 16% over the prior year, with gross margin expanding by 120 basis points to 29% [17] - First quarter GAAP net income was $29.5 million or $0.55 per share compared to $10.6 million or $0.24 per share in the prior-year period [17][18] Business Segment Data and Key Metrics Changes - Revenue for Consumer and Professional Products (CPP), Home and Building Products (HBP), and Defense Electronics (DE) increased by 21%, 4%, and 3% respectively [20] - Adjusted EBITDA for CPP, HBP, and DE also increased, with increases of 49%, 19%, and 25% respectively [20] - The AMES strategic initiative is expected to result in annual cash savings of $30 million to $35 million and equivalent inventory reductions when fully implemented [12][20] Market Data and Key Metrics Changes - Strong demand was noted across all consumer product categories, supported by a robust housing market and healthy repair and remodel activity [6][12] - Telephonics reported strong order demand with a book-to-bill ratio of almost 1.3 times, and backlog increased to $389 million [14] Company Strategy and Development Direction - The company is focused on portfolio repositioning, strategic initiatives, and operational improvements to enhance free cash flow generation and margin expansion [7][27] - The AMES strategic initiative aims to consolidate operations, increase automation, and support e-commerce growth, with completion expected by the end of 2023 [8][12] - The company executed two strategic portfolio actions: divesting the non-core Systems Engineering Group and acquiring Quatro Design in Australia to diversify operations [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's strong start to fiscal '21 and highlighted the importance of health and safety measures during the COVID-19 pandemic [11][27] - The company believes that the diversity of its businesses and focus on essential products create a platform for growth and sustainable competitive advantages [27] - Management anticipates continued strong demand driven by household formations and infrastructure spending as the economy recovers [66] Other Important Information - The company authorized an $0.08 per share dividend, marking the 38th consecutive quarterly dividend with an annualized compound growth rate of 17% since 2012 [15] - The company reported net leverage of 3.1 times EBITDA, down from 4.8 times at the end of the first quarter in fiscal 2020 [8][23] Q&A Session Summary Question: Margin expansion in CPP and HBP - Management noted that margin improvement has been a steady process over the years, driven by continuous improvement initiatives and integration of significant acquisitions [32] Question: Drivers behind strong bookings in Telephonics - A healthy pipeline and strong bookings were reported, with expectations of exiting the year at an annualized 10% margin [33] Question: Future margin potential in HBP - Management indicated robust demand and ongoing investments to support growth, with expectations of continued margin improvement [36] Question: Quatro Design acquisition and Australian market - The acquisition diversifies customer base and is expected to align with existing margin profiles [40] Question: Sell-through rates and retail inventory - Strong sell-through rates were reported, with inventory levels in the retail channel being relatively low [43] Question: Impact of steel price inflation - Management acknowledged a lag in passing through higher steel prices but expressed confidence in managing input costs [46][47] Question: Other inflationary pressures - Labor and freight costs were identified as ongoing challenges, with input costs across the board increasing [68]

Griffon Corporation (NYSE:GFF) Q4 2020 Results Earnings Conference Call November 12, 2020 4:30 PM ET Company Participants Ronald Kramer - Chairman and Chief Executive Officer Brian Harris - Senior Vice President and Chief Financial Officer Conference Call Participants Bob Labick - CJS Securities Julio Romero - Sidoti & Co. Josh Chan - Baird Justin Bergner - G Research Keith Hughes - Truist Trey Grooms - Stephens Operator Greetings and welcome to the Griffon Corporation's Fourth Quarter 2020 Earnings Confere ...

Griffon Corporation (NYSE:GFF) Q3 2020 Earnings Conference Call July 30, 2020 4:30 PM ET Company Participants Ron Kramer - Chairman and Chief Executive Officer Brian Harris - Chief Financial Officer Conference Call Participants Bob Labick - CJS Securities Julio Romero - Sidoti & Company Tim Wojs - Baird Operator Welcome to the Griffon Corporation Third Quarter 2020 Earnings Conference Call. [Operator Instructions] And the conference is being recorded. [Operator Instructions] I would now like to turn the con ...

Copyright © 2020 Griffon Corporation. All rights reserved. INVESTOR PRESENTATION July 2020 Forward-looking statements Cautionary Note Regarding Forward-Looking Statements This presentation contains "forward-looking statements" – statements that address future, not past events. In this context, forwardlooking statements often address our expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," or " ...

Griffon Corporation (NYSE:GFF) Q4 2019 Earnings Conference Call November 13, 2019 4:30 PM ET Company Participants Brian Harris – Chief Financial Officer Ron Kramer – Chairman and Chief Executive Officer Conference Call Participants Bob Labick – CJS Securities Julio Romero – Sidoti & Co. Justin Bergner – G. Research Tim Wojs – Robert W. Baird & Co. Operator Greetings and welcome to the Griffon Corporation’s Fourth Quarter Fiscal Year 2019 Earnings Call. At this time, all participants are in a listen-only mod ...

Copyright © 2019 Griffon Corporation. All rights reserved. INVESTOR PRESENTATION September 2019 Forward-looking statements Cautionary Note Regarding Forward-Looking Statements This presentation contains "forward-looking statements" – statements that address future, not past events. In this context, forwardlooking statements often address our expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," ...