Overview

• US building products maker's fiscal Q2 revenue fell 1% yr/yr, but beat analyst expectations

• Adjusted EBITDA for fiscal Q2 beat analyst expectations

• Company repurchased $32.9 mln in shares during the quarter

Outlook

• Griffon expects fiscal 2026 revenue from continuing operations of $1.8 bln

• Company sees fiscal 2026 adjusted EBITDA at $458 mln, excluding certain charges

• Griffon maintains its fiscal 2026 financial guidance

Result Drivers

• LOWER VOLUME - Co said a 6% decline in volume, mainly in residential products, drove revenue lower

• PRICE AND MIX - Favorable price and mix, up 5%, partially offset lower volume in both residential and commercial

• HIGHER MATERIAL COSTS - Increased material costs and lower volume impacted overhead absorption

Company press release: ID:nBw2fH9LKa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q2 Revenue	Beat	$421.90 mln	$414.63 mln (7 Analysts)
Q2 Adjusted EBITDA continuing operations	Beat	$97.80 mln	$96.69 mln (7 Analysts)
Q2 Net Debt		$1.30 bln

Analyst Coverage

• The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the construction supplies & fixtures peer group is "buy."

• Wall Street's median 12-month price target for Griffon Corp is $115.00, about 24.2% above its May 6 closing price of $92.58

• The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 13 three months ago

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