Griffon Corp Files Q1 FY25 10-Q
Ticker: GFF · Form: 10-Q · Filed: Feb 5, 2025 · CIK: 50725
Sentiment: neutral
Topics: 10-Q, financials, manufacturing
TL;DR
Griffon Corp's Q1 FY25 10-Q is in. Check financials for manufacturing updates.
AI Summary
Griffon Corporation filed its 10-Q for the period ending December 31, 2024. The filing covers the first quarter of their fiscal year 2025. Key financial data and business segments are detailed, with a focus on their manufacturing operations. The company is incorporated in Delaware and headquartered in New York.
Why It Matters
This filing provides investors with an update on Griffon Corporation's financial performance and operational status for the most recent quarter, crucial for investment decisions.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated.
Key Players & Entities
- GRIFFON CORP (company) — Filer
- 2024-12-31 (date) — Reporting Period End Date
- 2025-02-05 (date) — Filing Date
- New York (location) — Company Headquarters
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is December 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on February 5, 2025.
What is Griffon Corporation's Standard Industrial Classification (SIC) code?
Griffon Corporation's SIC code is 3442, which corresponds to METAL DOORS, SASH, FRAMES, MOLDING & TRIM.
In which state is Griffon Corporation incorporated?
Griffon Corporation is incorporated in Delaware (DE).
What is the fiscal year end for Griffon Corporation?
Griffon Corporation's fiscal year ends on September 30 (0930).
Filing Stats: 4,628 words · 19 min read · ~15 pages · Grade level 19.6 · Accepted 2025-02-05 17:04:53
Key Financial Figures
- $0.25 — ange on which registered Common Stock, $0.25 par value GFF New York Stock Exchange
Filing Documents
- gff-20241231.htm (10-Q) — 1494KB
- exhibit191-insidertradingp.htm (EX-19.1) — 100KB
- gff12-31x202410q1311.htm (EX-31.1) — 12KB
- gff12-31x202410q1312.htm (EX-31.2) — 12KB
- gff12-31x202410q132.htm (EX-32) — 9KB
- 0000050725-25-000008.txt ( ) — 9439KB
- gff-20241231.xsd (EX-101.SCH) — 69KB
- gff-20241231_cal.xml (EX-101.CAL) — 97KB
- gff-20241231_def.xml (EX-101.DEF) — 300KB
- gff-20241231_lab.xml (EX-101.LAB) — 787KB
- gff-20241231_pre.xml (EX-101.PRE) — 566KB
- gff-20241231_htm.xml (XML) — 1479KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
– Financial Statements
Item 1 – Financial Statements Condensed Consolidated Balance Sheets at December 31 , 202 4 (unaudited) and September 30, 2 024 1 Condensed Consolidated Statement of Shareholders' Equity for the Three Months Ended December 31 , 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) for the Three Months Ended December 31 , 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Cash Flows for the Three Months Ended December 31 , 2024 and 2023 (unaudited) 4 Notes to Condensed Consolidated Financial Statements (unaudited) 5
– Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations 28
- Quantitative and Qualitative Disclosures about Market Risk
Item 3 - Quantitative and Qualitative Disclosures about Market Risk 40
- Controls & Procedures
Item 4 - Controls & Procedures 41
– OTHER INFORMATION
PART II – OTHER INFORMATION
– Legal Proceedings
Item 1 – Legal Proceedings 41
– Risk Factors
Item 1A – Risk Factors 41
– Unregistered Sales of Equity Securities and Use of Proceeds
Item 2 – Unregistered Sales of Equity Securities and Use of Proceeds 42
– Defaults Upon Senior Securities
Item 3 – Defaults Upon Senior Securities 42
– Mine Safety Disclosures
Item 4 – Mine Safety Disclosures 42
– Other Information
Item 5 – Other Information 42
– Exhibits
Item 6 – Exhibits 42
Signatures
Signatures 44 Table of Contents
– Financial Information
Part I – Financial Information
– Financial Statements
Item 1 – Financial Statements GRIFFON CORPORATION AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands) (Unaudited) December 31, 2024 September 30, 2024 CURRENT ASSETS Cash and equivalents $ 151,952 $ 114,438 Accounts receivable, net of allowances of $ 11,766 and $ 10,986 268,951 312,765 Inventories 418,164 425,489 Prepaid and other current assets 49,850 61,604 Assets held for sale 5,559 14,532 Assets of discontinued operations 650 648 Total Current Assets 895,126 929,476 PROPERTY, PLANT AND EQUIPMENT, net 287,755 288,297 OPERATING LEASE RIGHT-OF-USE ASSETS 169,984 171,211 GOODWILL 329,393 329,393 INTANGIBLE ASSETS, net 609,232 618,782 OTHER ASSETS 30,231 30,378 ASSETS OF DISCONTINUED OPERATIONS 3,431 3,417 Total Assets $ 2,325,152 $ 2,370,954 CURRENT LIABILITIES Notes payable and current portion of long-term debt $ 8,143 $ 8,155 Accounts payable 142,702 119,354 Accrued liabilities 166,890 181,918 Current portion of operating lease liabilities 33,928 35,065 Liabilities of discontinued operations 4,368 4,498 Total Current Liabilities 356,031 348,990 LONG-TERM DEBT, net 1,466,889 1,515,897 LONG-TERM OPERATING LEASE LIABILITIES 147,463 147,369 OTHER LIABILITIES 123,757 130,540 LIABILITIES OF DISCONTINUED OPERATIONS 3,236 3,270 Total Liabilities 2,097,376 2,146,066 COMMITMENTS AND CONTINGENCIES - See Note 22 SHAREHOLDERS' EQUITY Total Shareholders' Equity 227,776 224,888 Total Liabilities and Shareholders' Equity $ 2,325,152 $ 2,370,954 The accompanying notes to condensed consolidated financial statements are an integral part of these statements. 1 Table of Contents GRIFFON CORPORATION CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY For the Three Months Ended December 31, 2024 and 2023 (Unaudited) COMMON STOCK CAPITAL IN EXCESS OF PAR VALUE RETAINED EARNINGS TREASURY SHARES ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) DEFERRED COMPENSATION (in thousands) SHARES PAR VALUE SHARES COST TOT