GFF - Griffon Non-GAAP EPS of $1.29 beats by $0.35 revenue of $683.4M misses by $20.46M
2023-08-02 08:18:21 ET
- Griffon press release ( NYSE: GFF ): Q3 Non-GAAP EPS of $1.29 beats by $0.35 .
- Revenue of $683.4M (-11.0% Y/Y) misses by $20.46M .
- Expect 2023 revenue of $2.7 billion. Adjusted EBITDA in 2023 is now expected to be $550 million (prior at least $525 million), excluding unallocated costs of $56 million, and charges related to the strategic review process of $22 million and AMES’s global sourcing expansion.
- Expect depreciation to be $45 million (prior $50 million) and capital expenditures to be $40 million (prior $50 million).
- Other guidance remains unchanged for 2023, including free cash flow to exceed net income, amortization of $22 million, interest expense of $103 million, and a normalized tax rate of 29%.
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Griffon Non-GAAP EPS of $1.29 beats by $0.35, revenue of $683.4M misses by $20.46M