Every material Form 8-K Griffon filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Griffon reported fiscal 2024 revenue of $2.6 billion, down 2% from the prior year, while net income rose to $209.9 million from $77.6 million. Fourth-quarter revenue grew 3% to $659.7 million, and the board approved a $400 million share buyback and a 20% dividend increase, which the company says reflects its confidence in its outlook.
Fiscal 2024 revenue $2.6 billion, down 2% from $2.7 billion; fourth-quarter revenue $659.7 million, up 3%
Fiscal 2024 net income $209.9 million, or $4.23 per share, versus $1.42 per share a year earlier; fourth-quarter EPS $1.29 versus $0.79
Board approved a $400 million share buyback and raised the regular quarterly dividend 20% to $0.18 per share
Fiscal 2025 outlook: revenue consistent with 2024 at $2.6 billion; adjusted EBITDA $575 million to $600 million
Griffon reported fiscal third-quarter 2024 revenue of $647.8 million, down 5% from the prior year, and diluted earnings per share of $0.84 versus $0.90. Adjusted EBITDA fell 9% to $125.5 million, and the company said it still expects to meet its previously provided full-year 2024 guidance.
Revenue of $647.8 million versus $683.4 million a year earlier, a 5% decrease
Net income of $41.1 million, or $0.84 per share, versus $49.2 million, or $0.90 per share; adjusted EPS was $1.24 versus $1.29
Adjusted EBITDA of $125.5 million, down 9% from $138.6 million; restructuring charges were $18.7 million in the quarter
Full-year 2024 outlook unchanged: revenue of $2.65 billion and Adjusted EBITDA of $555 million
Griffon amended its credit agreement to reprice its $459 million Term Loan B, lowering the SOFR spread from 2.50% to 2.25%, removing the credit spread adjustment, and reducing the SOFR floor from 50 to 0 basis points. The company estimates the change will save $1.8 million in annual cash interest expense based on the current balance. Shareholders may see lower borrowing costs, but prepaying the loan within six months of the amendment would require a premium of 1% of the amount prepaid.
Outstanding Term Loan B balance of $459 million, maturing January 2029
SOFR spread reduced from 2.50% to 2.25%; credit spread adjustment of 15 basis points removed
Estimated annual cash interest savings of $1.8 million based on current outstanding balance
Prepayment within six months of the amendment triggers a premium of 1% of the amount prepaid
Griffon reported fiscal second-quarter 2024 revenue of $672.9 million, down 5% from the prior year, while net income was $64.1 million, or $1.28 per diluted share, compared with a net loss of $62.3 million a year earlier. The company raised its full-year 2024 segment EBITDA guidance to $555 million from $525 million and its revenue outlook to $2.65 billion from $2.6 billion, which would benefit shareholders if achieved.
Q2 revenue was $672.9 million, down 5% from $711.0 million in the prior year quarter.
Net income was $64.1 million, or $1.28 per diluted share, versus a net loss of $62.3 million, or $1.17 per share, a year earlier.
Adjusted earnings per share were $1.35, compared with $1.21 in the prior year quarter.
2024 outlook: segment adjusted EBITDA raised to $555 million from $525 million; revenue raised to $2.65 billion from $2.6 billion.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Griffon filing is on SEC EDGAR ↗. 8-K briefs of other companies →