Financial News

Griffon (GFF) To Report Earnings Tomorrow: Here Is What To Expect

GFF Cover Image

Multi-industry consumer and professional products manufacturer Griffon Corporation (NYSE:GFF) will be announcing earnings results tomorrow before market hours. Here’s what you need to know.

Griffon missed analysts’ revenue expectations by 6% last quarter, reporting revenues of $647.8 million, down 5.2% year on year. It was a mixed quarter for the company, with optimistic EBITDA guidance for the full year but a miss of analysts’ earnings estimates.

Is Griffon a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Griffon’s revenue to be flat year on year at $641.2 million, improving from the 9.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.18 per share.

Griffon Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Griffon has missed Wall Street’s revenue estimates five times over the last two years.

Looking at Griffon’s peers in the home construction materials segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Trex’s revenues decreased 23.1% year on year, beating analysts’ expectations by 3.7%, and Hayward reported revenues up 3.3%, topping estimates by 2.1%. Trex traded up 6.3% following the results while Hayward was also up 12.3%.

Read our full analysis of Trex’s results here and Hayward’s results here.

There has been positive sentiment among investors in the home construction materials segment, with share prices up 6.3% on average over the last month. Griffon is up 1.8% during the same time and is heading into earnings with an average analyst price target of $89 (compared to the current share price of $69.95).

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