Griffon Corporation: Initiation Of Coverage – 4 Major Catalysts For Its Growth In 2024 & Beyond! 

Griffon Corporation recently reported its fiscal third quarter 2024 earnings. On the positive front, Griffon
Corporation reported strong operating performances in its two main segments: Home and Building
Products (HBP) and Consumer and Professional Products (CPP). HBP achieved an impressive EBITDA
margin of 30.1%, demonstrating robust profitability despite a challenging market environment characterized
by softening in the commercial sector. The resilience in the residential market, beneficial from increased
repair and remodel activities, helped offset some of these challenges. In terms of the CPP segment, there
was a notable improvement in the EBITDA margin, which rose by 230 basis points to 8.8%, attributed
mainly to enhanced North American production costs and reduced discretionary spending.