Welcome to our dedicated page for Griffon news (Ticker: GFF), a resource for investors and traders seeking the latest updates and insights on Griffon stock.
Griffon Corporation (NYSE: GFF) is a diversified management and holding company operating through wholly-owned subsidiaries. With a focus on optimizing operations, Griffon oversees its subsidiaries, allocates resources, and manages their capital structures. The company's core operations include consumer and professional products, and home and building products.
Griffon’s subsidiaries include Ames True Temper (ATT), Clopay Building Products (CBP), Telephonics Corporation, and Clopay Plastic Products Company. ATT and CBP form the Home & Building Products segment, which is the principal revenue driver. Griffon manufactures and markets a variety of products such as residential, commercial, and industrial garage doors, as well as non-powered landscaping tools for both professionals and homeowners.
The company continually seeks new acquisition opportunities to further diversify its portfolio and enhance returns on capital. Recently, Griffon’s subsidiary, AMES, announced the sale of complete wood mills and a series of public auctions aimed at supporting its global expansion strategy. Assets such as sawmill operations, dowel turning equipment, and CNC machinery will be available, presenting a unique opportunity for manufacturers.
Griffon’s financial health is robust, supported by strategic partnerships and a well-diversified product lineup. The company's operations thrive on innovation and market adaptability. For more detailed information about Griffon Corporation and its subsidiaries, visit their official website at www.griffoncorp.com.
Telephonics Corporation, a subsidiary of Griffon Corporation (NYSE: GFF), successfully demonstrated its MOSAIC Active Electronically Scanned Array (AESA) radar system during the U.S. Air Force's Combat Lancer 2020 exercise in September, achieving over 9 hours of operational flight time. This dual-beam technology enhances radar performance for surveillance and imaging tasks. Key stakeholders praised the collaboration and expressed optimism for future growth opportunities with the U.S. Air Force, highlighting the system's advanced capabilities that exceed existing AESA technologies.
Griffon Corporation (NYSE:GFF) announced the retirement of Steven M. Lynch, President of Clopay Corporation, effective at the end of fiscal 2021. He has led Clopay for twelve years, navigating crises and overseeing significant initiatives, including the integration of CornellCookson. Vic L. Weldon, Chief Operating Officer, will succeed him. Ronald J. Kramer, CEO of Griffon, praised Lynch's contributions and emphasized continuity with Weldon's promotion, who brings two decades of industry experience to his new role.
Griffon Corporation (NYSE:GFF) reported a strong performance for Q2 fiscal 2021, with consolidated revenue of $634.8 million, a 12% increase from the prior year. Net income soared to $17.1 million or $0.32 per share, a significant rise from $0.9 million or $0.02 per share year-over-year. Adjusted EBITDA reached $67.8 million, up 41%. The Consumer and Professional Products segment saw a 21% revenue increase, while Defense Electronics revenue dropped 26%. Key strategic initiatives are expected to deliver annual savings of $30-$35 million.
The Board of Directors of Griffon Corporation (NYSE: GFF) has declared a quarterly cash dividend of $0.08 per share, payable on June 17, 2021 to shareholders of record by May 20, 2021. Griffon operates through three main segments: Consumer and Professional Products via AMES, Home and Building Products through Clopay, and Defense Electronics via Telephonics. The company seeks to diversify its operations and enhance returns through acquisitions and growth opportunities.
Griffon Corporation (NYSE:GFF) will release its fiscal second quarter results on April 29, 2021, followed by a conference call at 4:30 PM ET. Participants can access the call by dialing 1-877-407-0792 (U.S.) or 1-201-689-8263 (International), using conference ID 13719101. A replay will be available after the call until May 13, 2021. Griffon operates through three segments: Consumer and Professional Products, Home and Building Products, and Defense Electronics, focusing on acquisitions and growth opportunities.
Griffon Corporation's subsidiary, Telephonics, has secured a $162 million support contract from Lockheed Martin for U.S. Navy MH-60R and MH-60S helicopters. The contract includes a five-year base period, extending to 2025, with an optional two-year extension. Currently, there is a funded backlog of $84 million. This contract is part of the U.S. Navy’s Performance Based Logistics program, aimed at procuring spares, supplying test equipment, and performing critical repairs on advanced radar and communication systems integral to these aircraft.
Griffon Corporation (NYSE:GFF) announced its participation in the Sidoti Spring 2021 Investor Conference on March 25, 2021, in a virtual format. The investor presentation will be accessible on Griffon's website during the conference. The company operates through three reportable segments: Consumer and Professional Products, led by The AMES Companies; Home and Building Products, through Clopay Corporation; and Defense Electronics, provided by Telephonics Corporation. For more information, visit www.griffon.com.
Griffon Corporation (NYSE:GFF) reported strong Q1 fiscal 2021 results, with consolidated revenue of $609.3 million, an 11% increase year-over-year. Net income rose to $29.5 million or $0.55 per share, up from $10.6 million or $0.24 per share in Q1 2020. Adjusted EBITDA grew 35% to $74.6 million. Key segments, Consumer and Professional Products, Home and Building Products, and Defense Electronics, all reported revenue growth. The company anticipates annual cash savings of $30 million to $35 million from its strategic initiatives.
The Board of Directors of Griffon Corporation (GFF) has declared a quarterly cash dividend of $0.08 per share, payable on March 18, 2021, to shareholders on record by the close of business on February 18, 2021. Griffon operates through three segments: Consumer and Professional Products, Home and Building Products, and Defense Electronics, which include brands such as AMES and Clopay. The company aims to allocate resources effectively to enhance growth and acquisitions while providing operational support to its subsidiaries.
Griffon Corporation (NYSE:GFF) will announce its fiscal first quarter results on January 28, 2021, with a conference call at 8:30 AM ET. Participants can join by calling 1-877-407-0792 for U.S. callers or 1-201-689-8263 for international participants, providing the conference ID 13715112. A replay will be available starting the same day at 11:30 AM ET, lasting until February 11, 2021. Griffon operates through three main segments: Consumer and Professional Products, Home and Building Products, and Defense Electronics, focusing on growth and resource allocation within its subsidiaries.
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