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Dec 31, 2023
Griffon Q1 2024 Earnings Report
Griffon's Q1 2024 results were announced, featuring a slight revenue decrease, solid free cash flow, and improved profitability in the Consumer and Professional Products segment.
Key Takeaways
Griffon Corporation reported a slight decrease in revenue for the first quarter, totaling $643.2 million compared to $649.4 million in the prior year quarter. Net income was $42.2 million, or $0.82 per share, compared to $48.7 million, or $0.88 per share, in the prior year quarter. Adjusted EBITDA increased by 7% to $116.4 million. The company highlighted strong free cash flow of $133 million and improved profitability at Consumer and Professional Products.
Revenue decreased slightly to $643.2 million from $649.4 million in the prior year quarter.
Net income was reported at $42.2 million, or $0.82 per share.
Adjusted EBITDA increased by 7% to $116.4 million.
Strong free cash flow of $133 million was generated during the quarter.
Griffon
Griffon
Forward Guidance
Griffon is well positioned to meet their financial targets for the year.