Griffon Corporation reports recurring developments for a building products business that manufactures and markets residential and commercial garage doors, rolling steel doors and grille products, and ceiling fans. Its brands include Clopay, IDEAL and Holmes for garage doors; Clopay, Cornell and Cookson for rolling steel products; and Hunter, Casablanca and Jan Fan for fans.
Company news commonly covers fiscal results, pricing and volume trends in residential and commercial channels, material and labor cost effects, dividends, share repurchases, balance sheet management, and portfolio actions tied to Griffon’s building products focus.
Griffon Corporation (NYSE:GFF) reported a strong fiscal year 2020, with revenues of $2.4 billion, up 9% from the previous year, driven by 8% organic growth. Income from continuing operations reached $53.4 million, translating to $1.19 per share, a significant increase from $1.06 per share in 2019. Adjusted EBITDA rose 18% to $236 million. The fourth quarter showed similar strength, with revenues of $661 million, a 15% year-over-year increase. The company also improved its balance sheet by refinancing bonds and raising $178 million through a stock offering, positioning itself to seize future opportunities.
The Board of Directors of Griffon Corporation (NYSE: GFF) has declared a regular quarterly cash dividend of $0.08 per share. This dividend is set to be paid on December 17, 2020, to shareholders on record as of November 25, 2020.
Griffon operates through three segments: Consumer and Professional Products, Home and Building Products, and Defense Electronics. Each segment provides diverse offerings ranging from consumer tools to sophisticated defense solutions.
Griffon Corporation (NYSE:GFF) will present at the Baird 2020 Global Industrial Conference on November 12, 2020, in a virtual format. An investor presentation will be available on Griffon's website during the conference. Griffon operates through three segments: Consumer and Professional Products, featuring brands like AMES and True Temper; Home and Building Products under Clopay, a leading garage door manufacturer; and Defense Electronics through Telephonics, specializing in surveillance solutions. For further details, visit www.griffon.com.
Telephonics Corporation, a subsidiary of Griffon Corporation (NYSE: GFF), has secured a $119M threat engineering task order from the Naval Surface Warfare Center (NSWCDD). This contract focuses on threat-based engineering services, including intelligence analysis and simulation development, to enhance combat systems and weapons. SEG aims to apply its expertise to various defense areas, including integrated air and missile defense and counter-hypersonics. SEG has over 25 years of experience supporting the Navy's Threat Engineering team, emphasizing its commitment to delivering robust capabilities.