Griffon (GFF) Q3 2026 Earnings Call Transcript

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Wed, August 12, 2026 astatine 10:43 AM CDT 18 min read

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Full Conference Call Transcript

Operator: Good day, and invited to the Griffon Corporation Fiscal Third Quarter 2026 Earnings Conference Call. [Operator Instructions] Please enactment this lawsuit is being recorded. I would present similar to crook the league implicit to Brian Harris, CFO. Please spell ahead.

Brian Harris: Thank you. Good morning, and invited to Griffon Corporation's Third Quarter Fiscal 2026 Earnings Call. Joining maine for this morning's telephone is Ron Kramer, Griffon's Chairman and Chief Executive Officer. Our property merchandise was issued earlier this greeting and is disposable connected our website astatine www.griffon.com. Today's telephone is being recorded, and the replay instructions are included successful our net release. Our comments volition see forward-looking statements astir Griffon's performance. These statements are taxable to risks and uncertainties that tin alteration arsenic the satellite changes. Please spot the cautionary statements successful today's property merchandise and successful our SEC filings. Finally, immoderate of today's remarks volition set for items that impact comparability betwixt periods.

These items are explained successful our non-GAAP reconciliations included successful our property release. With that, I'll crook the telephone implicit to Ron.

Ronald Kramer: Thanks, Brian. Good morning, everyone, and acknowledgment for joining us. Griffon has executed peculiarly good this quarter, which is reflected successful today's coagulated operational and fiscal results. In the quarter, gross accrued organically by 7% and EBITDA by 2%, portion generating beardown year-to-date escaped currency travel of $194 million. Given our show for the archetypal 9 months of the fiscal year, we're maintaining our gross and EBITDA guidance for the twelvemonth of $1.8 cardinal and $458 million, respectively. Our team's show remains outstanding, showing resiliency, managing done dynamic planetary economical conditions, including brushed U.S. lodging and commercialized operation markets.

Regarding our strategical actions, earlier this week, we were precise pleased to denote the closing of the associated task for our Australasia business. At closing, we received $181 cardinal successful cash, a $49 cardinal enactment receivable and a 49% equity interest. The closing of the Australasia transaction concludes a bid of strategical actions that person transformed Griffon into a pure-play gathering products company. From these transactions, we received a full of $281 cardinal successful cash, $210 cardinal successful 10% PIK notes portion retaining number involvement with a publication worth of $139 cardinal and an accidental for further worth creation. Turning to superior allocation.