- Griffon (GFF -8.7%) reported Q4 revenue growth of 26.6% Y/Y to $545.51M, with Home and Building products revenue of $444.17M (+54.7% Y/Y) and Defense electronics revenue of $101.33M (-29.5% Y/Y).
- Home & Building Products revenue breakup: AMES $216.28M (+72.32% Y/Y) and CBP $227.9M (+41.1% Y/Y).
- Q4 overall gross margin improved by 53 bps to 27.2% and operating margin improved by 327 bps to 1.2%.
- SG&A expenses increased by 11.9% Y/Y to $109.33M and margin declined by 264 bps to 20%.
- Total segment Adj. EBITDA increased by 25.7% Y/Y to $67.26M, where Home building & products increased by 40.5% Y/Y and Defense electronics decreased slightly by 0.76% Y/Y.
- Net cash provided by operating activities - continuing operations YTD was $66.45M, compared to $49.15M a year ago.
- Company has $70M in cash and total debt outstanding of $1.1B, as of September 30, 2018.
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FY19 Guidance: Revenue $2.2B a 12% increase; Segment Adj. EBITDA $230M or 8% growth.
- Previously: Griffon beats by $0.02, misses on revenue (Nov. 14)
- Previously: Griffon declares $0.0725 dividend (Nov. 14)
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