Multi-industry consumer and professional products manufacturer Griffon Corporation (NYSE:GFF) will be reporting results this Thursday before market open. Here’s what investors should know.
Griffon beat analysts’ revenue expectations by 4.9% last quarter, reporting revenues of $662.2 million, flat year on year. It was a strong quarter for the company, with a solid beat of analysts’ revenue estimates and full-year EBITDA guidance exceeding analysts’ expectations.
Is Griffon a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Griffon’s revenue to decline 2.1% year on year to $619.4 million, in line with the 1.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.33 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Griffon has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Griffon’s peers in the building products segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Zurn Elkay delivered year-on-year revenue growth of 9.8%, beating analysts’ expectations by 1.4%, and Carlisle reported flat revenue, topping estimates by 1.4%.
Read our full analysis of Zurn Elkay’s results here and Carlisle’s results here.
There has been positive sentiment among investors in the building products segment, with share prices up 8.5% on average over the last month. Griffon is up 11.1% during the same time and is heading into earnings with an average analyst price target of $101.29 (compared to the current share price of $83.12).
Today’s young investors won’t have read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.