GFF FY 2023 Earnings Report — Griffon Corporation Revenue & Financial Results | Market Cap Arena

Griffon CorporationGFF

FY 2023 Earnings

Reported November 15, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2023	Prior Q	FY 2022	QoQ Change	YoY Change
Revenue	$2.7B	—	—	—	—
Op. Income	$197M	—	—	—	—
Gross Margin	35.3%	—	—	—	—
Net Margin	2.9%	—	—	—	—
EPS (Diluted)	$1.42	—	—	—	—
Free Cash Flow	$365M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$1.7B
GROSS PROFIT	$949M
R&D Expenses	$18M
Selling & Marketing	$0
General & Administrative	$643M
SG&A Expenses	$643M
Other Expenses	$91M
Operating Expenses	$752M
Cost & Expenses	$2.5B
OPERATING INCOME	$197M
Interest Income	$2M
Interest Expense	$101M
Other Income/Expenses	-$84M
INCOME BEFORE TAX	$113M
Income Tax Expense	$35M
Net Income from Continuing Ops	$78M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$78M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$78M
D&A	$65M
EBIT	$214M
EBITDA	$280M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$1.7B
GROSS PROFIT	$949M
R&D Expenses	$18M
Selling & Marketing	$0
General & Administrative	$643M
SG&A Expenses	$643M
Other Expenses	$91M
Operating Expenses	$752M
Cost & Expenses	$2.5B
OPERATING INCOME	$197M
Interest Income	$2M
Interest Expense	$101M
Other Income/Expenses	-$84M
INCOME BEFORE TAX	$113M
Income Tax Expense	$35M
Net Income from Continuing Ops	$78M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$78M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$78M
D&A	$65M
EBIT	$214M
EBITDA	$280M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$78M
Depreciation & Amortization	$65M
Stock-Based Compensation	$41M
Deferred Income Tax	-$38M
Other Non-Cash Items	$158M
Change in Working Capital	$124M
OPERATING CASH FLOW	$429M
Capital Expenditure	-$64M
Acquisitions (Net)	-$3M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$21M
NET CASH FROM INVESTING	-$45M
Net Debt Issuance	-$99M
Common Stock Repurchased	-$164M
Common Dividends Paid	-$134M
Other Financing Activities	-$3M
NET CASH FROM FINANCING	-$400M
FREE CASH FLOW	$365M
Net Change in Cash	-$17M

Balance Sheet

Item	Amount
Cash & Equivalents	$103M
Short-Term Investments	$0
Net Receivables	$312M
Inventory	$507M
Other Current Assets	$58M
TOTAL CURRENT ASSETS	$981M
PP&E (Net)	$449M
Goodwill	$328M
Intangible Assets	$635M
Long-Term Investments	-$101M
Tax Assets	$0
Other Non-Current Assets	$127M
TOTAL NON-CURRENT ASSETS	$1.4B
TOTAL ASSETS	$2.4B
Account Payables	$117M
Short-Term Debt	$10M
Deferred Revenue	$0
Other Current Liabilities	$85M
TOTAL CURRENT LIABILITIES	$359M
Long-Term Debt	$1.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$137M
TOTAL NON-CURRENT LIABILITIES	$1.7B
TOTAL LIABILITIES	$2.1B
Common Stock	$21M
Additional Paid-In Capital	$663M
Retained Earnings	$282M
Treasury Stock	-$578M
Accum. Other Comp. Income	-$70M
Other Equity	-$2M
TOTAL STOCKHOLDERS' EQUITY	$315M
Minority Interest	$0
TOTAL EQUITY	$315M
TOTAL LIABILITIES & EQUITY	$2.4B
Total Debt	$1.6B
Net Debt	$1.5B