Griffon Corporation Announces Second Quarter Results

About this update from Griffon Corporation

[{"type":"text","content":"NEW YORK, May 08, 2025--(BUSINESS WIRE)--Griffon Corporation ("Griffon" or the "Company") (NYSE:GFF) today reported results for the fiscal 2025 second quarter ended March 31, 2025.","length":200,"tagName":"p"},{"type":"text","content":"Revenue for the second quarter totaled $611.7 million, a 9% decrease compared to $672.9 million in the prior year quarter.","length":122,"tagName":"p"},{"type":"text","content":"Net income totaled $56.8 million, or $1.21 per share, compared to $64.1 million, or $1.28 per share, in the prior year quarter. Excluding all items that affect comparability from both periods, adjusted net income was $57.6 million, or $1.23 per share, in the current year quarter compared to $67.5 million, or $1.35 per share, in the prior year quarter. For a reconciliation of net income to adjusted net income (a non-GAAP measure), and earnings per share to adjusted earnings per share (a non-GAAP measure), see the attached table.","length":533,"tagName":"p"},{"type":"text","content":"Adjusted EBITDA for the second quarter was $118.5 million, a 12% decrease from the prior year quarter of $134.2 million. Adjusted EBITDA, excluding unallocated amounts (primarily corporate overhead) of $14.6 million in the current quarter and $14.8 million in the prior year quarter, totaled $133.2 million, decreasing 11% from the prior year of $149.0 million. For a reconciliation of adjusted EBITDA, a non-GAAP measure, to income before taxes, and the definition of adjusted EBITDA, see the attached table.","length":509,"tagName":"p"},{"type":"text","content":""I am pleased to report that the performance of both of our segments for the first half was in-line with our expectations," said Ronald J. Kramer, Chairman and CEO of Griffon. "Home and Building Products ("HBP") maintained a strong 30% EBITDA margin, driven by steady residential performance and favorable mix. Consumer and Professional Products ("CPP") continued to deliver improving EBITDA margin year-over-year, driven by the transition of our U.S. operations to an asset-light business model and solid performance from our team in Australia."","length":586,"tagName":"p"},{"type":"text","content":""Given our year-to-date performance, we are maintaining our financial guidance for the year, despite the uncertain economic operating c...

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