Multi-industry consumer and professional products manufacturer Griffon Corporation (NYSE:GFF) will be announcing earnings results tomorrow before market hours. Here’s what to look for.
Griffon beat analysts’ revenue expectations by 2.9% last quarter, reporting revenues of $659.7 million, up 2.9% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA 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.
This quarter, analysts are expecting Griffon’s revenue to be flat year on year at $637.6 million, in line with its flat revenue from the same quarter last year. Adjusted earnings are expected to come in at $1.19 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 five 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. Lennox delivered year-on-year revenue growth of 16.5%, beating analysts’ expectations by 8.9%, and Insteel reported revenues up 6.6%, topping estimates by 10.4%. Lennox traded down 8.5% following the results while Insteel was up 8.7%.
Read our full analysis of Lennox’s results here and Insteel’s results here.
Investors in the building products segment have had steady hands going into earnings, with share prices flat over the last month. Griffon is up 4.8% during the same time and is heading into earnings with an average analyst price target of $101 (compared to the current share price of $75.72).
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