Griffon Corp. Q3 adjusted earnings Beat Estimates finanznachrichten.de - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finanznachrichten.de Daily Mail and Mail on Sunday newspapers.
Operator
Greetings, and welcome to Griffon Corporation s Second Quarter 2021 Earnings Conference Call. [Operator Instructions] [Operator Instructions]
I would now like to turn the conference over to your host, Brian Harris. Thank you. You may begin.
Brian G. Harris
Senior Vice President and Chief Financial Officer
Hey, Gerard. Good afternoon, everyone. With me on the call is Ron Kramer, our Chairman and Chief Executive Officer. [Operator Instructions] As in the past, our comments will include forward-looking statements about the Company s performance based on our views of Griffon s businesses and the environments in which they operate. Such statements are subject to inherent risks and uncertainties that can change as the world changes. Please see the cautionary statements in today s press release and our various Securities and Exchange Commission filings. Finally, from today s remarks will adjust for those items that affect comparability between reporting periods. These items
Griffon Corp. Q2 adjusted earnings Beat Estimates
WASHINGTON (dpa-AFX) - Griffon Corp. (GFF) announced a profit for its second quarter that climbed from last year.
The company s bottom line came in at $17.11 million, or $0.32 per share. This compares with $0.90 million, or $0.02 per share, in last year s second quarter.
Excluding items, Griffon Corp. reported adjusted earnings of $25.44 million or $0.48 per share for the period.
Analysts had expected the company to earn $0.30 per share, according to figures compiled by Thomson Reuters. Analysts estimates typically exclude special items.
The company s revenue for the quarter rose 12.1% to $634.83 million from $566.35 million last year.
Griffon Corp. earnings at a glance:
Company s 52-week low was at $13.49
Price action over last quarter: Up 22.35%
Company Profile
Griffon Corp manufactures and markets residential, commercial and industrial garage doors to professional installing dealers and home center retail chains. It also provides non-powered landscaping products for homeowners and professionals. Its operating segments include Consumer and Professional Products, Home and Building Products, and Defense Electronics. The company generates a majority of its revenue from the Home and Building Products segment.
Griffon Q1 Profit Surges, Results Beat View
WASHINGTON (dpa-AFX) - Griffon Corp. (GFF) on Thursday reported a surge in net income for the first quarter to $29.5 million or $0.55 per share from $10.6 million or $0.24 per share in the prior-year quarter.
Adjusted earnings for the quarter were $0.56 per share, compared to $0.36 per share in the previous-year quarter.
Net sales for the quarter rose to $609.29 million from $548.44 million last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.32 per share for the quarter on revenues of $573.82 million. Analysts estimates typically exclude special items.
In November 2019, Griffon said it has developed a next-generation business platform for Consumer and Professional Products or CPP to enhance the growth, efficiency, and competitiveness of its U.S. operations.