Griffon Corporation (GFF, Financial) just wrapped up fiscal 2024 with a bang, crushing expectations and delivering serious gains for investors, leading to a pre-market jump of 8.6%. Q4 earnings skyrocketed 49% year-over-year to $62.5 million, or $1.29 per share, leaving analysts' predictions of $1.18 in the dust. Adjusted earnings hit $1.47 per share, and revenues climbed 2.9% to $659.7 million. The Home and Building Products (HBP) and Consumer and Professional Products (CPP) segments powered this growth, with adjusted EBITDA up 13% to $137.5 million. For the year, Griffon tripled its net income to $209.9 million, while free cash flow of $326 million fueled hefty dividends and share buybacks.
Here's where it gets exciting for investors: Griffon's strategic moves are paying off big. The CPP division streamlined operations with a new asset-light model, cutting costs and boosting margins, while HBP capitalized on rising residential demand. CEO Ronald Kramer didn't hold back on his enthusiasm, announcing a 20% dividend hike and a fresh $400 million buyback plan, all while keeping leverage steady. These numbers show Griffon's commitment to rewarding shareholders without losing sight of operational upgrades and market opportunities.
Looking forward, Griffon is projecting steady revenues of $2.6 billion in fiscal 2025, with adjusted EBITDA set to hit a new high of $575–600 million. The game plan? Keep reinvesting in modernization, slash debt, and seize growth opportunities. For investors, Griffon's performance isn't just a win—it's a promise of more wins ahead, backed by operational discipline, strategic foresight, and a clear focus on delivering shareholder value.
