Griffon Corporation Reports Strong Earnings Growth

Griffon ( (GFF) ) has released its Q4 earnings. Here is a breakdown of the information Griffon presented to its investors.

Griffon Corporation is a diversified management and holding company operating through two main segments: Home and Building Products and Consumer and Professional Products, offering a range of consumer and professional tools, garage doors, and home storage products.

Griffon Corporation has reported its earnings for the fiscal year and fourth quarter ending September 30, 2024, showing a slight decrease in annual revenue but a significant increase in net income, attributable to strategic financial management and operational improvements.

The fiscal year 2024 saw Griffon generating a revenue of $2.6 billion, a 2% decline from the previous year, while net income surged to $209.9 million from $77.6 million. The adjusted EBITDA showed a 2% increase, highlighting a strong performance in the Home and Building Products segment and improved profitability in the Consumer and Professional Products segment. Notably, the company repurchased 4.8 million shares and announced a $400 million share buyback authorization alongside a 20% increase in dividends.

In the fourth quarter, Griffon’s revenue grew by 3% year-over-year, reaching $659.7 million, with net income rising to $62.5 million. The Consumer and Professional Products segment benefited from improved production costs, particularly in North America and Australia, contributing to a 44% increase in annual adjusted EBITDA for this segment.

Looking ahead, Griffon Corporation plans to maintain its revenue at $2.6 billion for fiscal year 2025, with an expected adjusted EBITDA between $575 million and $600 million. The company will continue to focus on strategic share repurchases, debt reduction, and investments in business growth, reflecting confidence in its financial stability and future prospects.