GFF - Griffon rises ~8% post Q1 results beat and improved margins

Griffon ([[GFF]] +7.9%) reported FQ1 revenue growth of 11.1% Y/Y to $609.29M; and net income increased by 178% Y/Y to $29.5M.Revenues by segments: Consumer and Professional Products $291.04M (+20.7% Y/Y); Home and Building Products $250.48M (+3.8% Y/Y); and Defense Electronics $67.77M (+2.7% Y/Y).FQ1 Gross margin improved by 60 bps to 27.9%; and operating margin improved by 212 bps to 7.9%.Adj. EBITDA increased by 35.2% Y/Y to $74.64M, and margin expanded by 220 bps to 12.3%.Net cash provided by operating activities was $20.83M, compared to cash used $18.17M a year ago; and FCF of $8.96M.“Notably, all three operating segments grew revenue, adjusted EBITDA and adjusted EBITDA margin over the prior year first quarter. Our earnings growth and positive free cash flow underscores the significance of our business initiatives and strategic investments over the last several years,” commented Ronald J. Kramer, CEO."Griffon represents reasonable value in what I view as at least a slightly overvalued market. The stock

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Griffon rises ~8% post Q1 results beat, and improved margins