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Dec 31, 2020
Griffon Q1 2021 Earnings Report
Griffon reported strong Q1 2021 results with revenue, adjusted EBITDA, and adjusted EPS growth.
Key Takeaways
Griffon Corporation reported an 11% increase in consolidated revenue, reaching $609.3 million for the first quarter of fiscal 2021. Net income increased to $29.5 million, or $0.55 per share, compared to $10.6 million, or $0.24 per share, in the prior year quarter. Adjusted EBITDA rose by 35% to $74.6 million.
Consolidated revenue increased by 11% to $609.3 million compared to the prior year quarter.
Net income was $29.5 million, or $0.55 per share, compared to $10.6 million, or $0.24 per share, in the prior year quarter.
Adjusted EBITDA increased by 35% to $74.6 million from $55.2 million in the prior year quarter.
Consumer and Professional Products (CPP) revenue increased by 21%, driven by increased volume and organic growth.
Griffon
Griffon
Forward Guidance
Griffon is accelerating growth initiatives across all segments and pursuing opportunistic acquisitions, positioning the company to deliver long-term shareholder value.