Griffon Corp (GFF) Misses Q3 EPS by 7c, provides guidance

Griffon Corp (NYSE: GFF) reported Q3 EPS of $1.24, $0.07 worse than the analyst estimate of $1.31. Revenue for the quarter came in at $647.8 million versus the consensus estimate of $690.32 million.

GUIDANCE:

Griffon Corp sees FY2024 revenue of $2.65 billion, versus the consensus of $2.657 billion and Adjusted EBITDA of $555 million, excluding unallocated costs of $59 million and charges related to the former strategic review and AMES’s global sourcing expansion.

Other guidance for 2024 remains unchanged, including amortization of $22 million, depreciation $41 million, interest expense of $103 million, a normalized tax rate of 28% and free cash flow to exceed net income.

For earnings history and earnings-related data on Griffon Corp (GFF) click here.

You May Also Be Interested In

• Citrini flags overheating concerns as leverage, chip rally weigh on KOSPI
• Daiwa Securities Downgrades Pinduoduo Inc. (PDD) to Hold
• Baird sees Tesla-SpaceX merger within 12 to 18 months