Griffon Earnings Call Transcripts
Fiscal Year 2026
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Q2 results showed resilient performance amid soft housing and commercial markets, with revenue down 1% and adjusted EBITDA down 4% year-over-year. Strategic actions are refocusing the business, and guidance for fiscal 2026 is maintained, supported by strong cash flow and ongoing innovation.
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Announced a major joint venture and strategic actions to become a pure-play building products company, with strong Q1 free cash flow and stable segment performance. Fiscal 2026 guidance remains robust, supported by ongoing capital returns and optimism for housing market recovery.
Fiscal Year 2025
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Strong Q4 and FY25 results driven by HBP innovation and CPP margin gains, despite macro headwinds. FY26 guidance calls for stable revenue and EBITDA, with continued focus on shareholder returns, margin improvement, and debt reduction.
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HBP segment outperformed with strong margins, while CPP faced demand and tariff headwinds but improved profitability through sourcing initiatives. Full-year EBITDA guidance was reaffirmed, revenue guidance lowered, and significant capital was returned to shareholders.
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Q2 revenue and EBITDA declined year-over-year, but margins remained strong, especially in HBP. Guidance for fiscal 2025 is unchanged, with tariff impacts expected to be manageable through supply chain actions. Share buybacks and dividends continue, reflecting confidence in long-term strategy.
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Q1 saw strong free cash flow, higher margins, and improved profitability in both HBP and CPP segments. Guidance for 2025 is unchanged, with tariff risks mitigated and continued focus on share repurchases and dividends. HBP residential outperforms, while CPP growth is led by Australia.
Fiscal Year 2024
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Fourth quarter revenue and EBITDA grew year-over-year, led by strong HBP performance and improved CPP profitability. Fiscal 2025 guidance calls for stable revenue and EBITDA, with continued margin strength and robust free cash flow.
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Strong Q3 operating performance with robust free cash flow enabled debt reduction, share buybacks, and dividends. HBP margins remained high despite steel cost headwinds, while CPP improved margins through sourcing initiatives. Full-year guidance was reiterated.