$GFF

GRIFFON CORP

CIK:0000050725|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 481,370	$ 449,692	$ 1,357,490	$ 1,319,829
Cost of goods and services	255,316	230,851	730,714	691,254
Gross profit	226,054	218,841	626,776	628,575
Selling, general and administrative expenses	110,552	107,283	324,515	321,790
Goodwill and intangible asset impairments	0	243,612	0	243,612
Total operating expenses	110,552	350,895	324,515	565,402
Income (loss) from continuing operations	115,502	(132,054)	302,261	63,173
Other income (expense)
Interest expense	(21,124)	(24,068)	(64,254)	(72,763)
Interest income	1,002	90	1,243	429
Loss from debt extinguishment	(833)	0	(1,389)	0
Other, net	(2,576)	272	(5,192)	858
Total other expense, net	(23,531)	(23,706)	(69,592)	(71,476)
Income (loss) before taxes from continuing operations	91,971	(155,760)	232,669	(8,303)
Provision (benefit) for income taxes from continuing operations	25,660	(47,105)	63,849	(8,589)
Income (loss) from continuing operations	66,311	(108,655)	168,820	286
Discontinued operations:
Income (loss) from operations of discontinued operations	(6,937)	6,559	(30,464)	35,159
Provision for income taxes	7,742	18,043	3,019	27,971
Income (loss) from discontinued operations	(14,679)	(11,484)	(33,483)	7,188
Net income (loss)	$ 51,632	$ (120,139)	$ 135,337	$ 7,474
Basic earnings (loss) per common share:
Income (loss) from continuing operations (in dollars per share)	$ 1.51	$ (2.40)	$ 3.80	$ 0.01
Income (loss) from discontinued operations (in dollars per share)	(0.33)	(0.25)	(0.75)	0.16
Basic earnings (loss) per common share (in dollars per share)	$ 1.17	$ (2.65)	$ 3.05	$ 0.16
Basic weighted-average shares outstanding (in shares)	43,970	45,320	44,414	45,505
Diluted earnings (loss) per common share:
Income (loss) from continuing operations (in dollars per share)	$ 1.47	$ (2.40)	$ 3.71	$ 0.01
Income (loss) from discontinued operations (in dollars per share)	(0.33)	(0.25)	(0.74)	0.15
Diluted earnings (loss) per common share (in dollars per share)	$ 1.14	$ (2.65)	$ 2.97	$ 0.16
Diluted weighted-average shares outstanding (in shares)	45,148	45,320	45,543	46,911
Dividends paid per common share (in dollars per share)	$ 0.22	$ 0.18	$ 0.66	$ 0.54
Other comprehensive income (loss), net of taxes:
Foreign currency translation adjustments	$ 1,546	$ 12,244	$ 6,167	$ (4,804)
Pension and other post retirement plans	1,773	897	5,628	1,493
Change in cash flow hedges	1,196	(695)	(554)	475
Total other comprehensive income (loss), net of taxes	4,515	12,446	11,241	(2,836)
Comprehensive income (loss), net	$ 56,147	$ (107,693)	$ 146,578	$ 4,638

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES - CONTINUING OPERATIONS:
Net income	$ 135,337	$ 7,474
Net loss (income) from discontinued operations	33,483	(7,188)
Income from continuing operations	168,820	286
Adjustments to reconcile net income to net cash provided by operating activities - continuing operations:
Depreciation and amortization	29,857	28,754
Paid-in-kind interest	(939)	0
Stock-based compensation	20,652	16,898
Goodwill and intangible asset impairments	0	243,612
Provision (recovery) for losses on accounts receivable	174	(5)
Amortization of debt discounts and issuance costs	2,963	3,080
Loss from debt extinguishment	1,389	0
Pension and other post-retirement non-cash charges	5,345	285
Deferred income tax provision (benefit)	(124)	(25,000)
Change in assets and liabilities:
Increase in accounts receivable	(4,901)	(3,950)
Increase in inventories	(14,024)	(17,481)
(Increase) decrease in prepaid and other assets	(11,147)	3,836
Increase (decrease) in accounts payable, accrued liabilities and other liabilities	18,808	(16,989)
Other changes	1,071	1,190
Net cash provided by operating activities - continuing operations	217,944	234,516
CASH FLOWS FROM INVESTING ACTIVITIES - CONTINUING OPERATIONS:
Acquisition of property, plant and equipment	(23,736)	(32,498)
Proceeds from sale of business	100,000	0
Other, net	0	138
Net cash provided by (used in) investing activities - continuing operations	76,264	(32,360)
CASH FLOWS FROM FINANCING ACTIVITIES - CONTINUING OPERATIONS:
Dividends paid	(30,939)	(31,622)
Purchase of shares for treasury	(119,055)	(161,709)
Proceeds from long-term debt	50,000	63,000
Payments of long-term debt	(199,019)	(139,018)
Other, net	(238)	(90)
Net cash used in financing activities - continuing operations	(299,251)	(269,439)
CASH FLOWS FROM DISCONTINUED OPERATIONS:
Net cash provided by operating activities	20,873	47,144
Net cash provided by (used in) investing activities	(3,608)	10,526
Net cash used in financing activities	(78)	(99)
Net cash provided by discontinued operations	17,187	57,571
Effect of exchange rate changes on cash and equivalents	(839)	2,553
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS	11,305	(7,159)
CASH AND EQUIVALENTS AT BEGINNING OF PERIOD	99,045	114,438
CASH AND EQUIVALENTS AT END OF PERIOD	110,350	107,279
Supplemental Disclosure of Non-Cash Flow Information:
Capital expenditures in accounts payable	$ 4,277	$ 4,770

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Sep. 30, 2025
CURRENT ASSETS
Cash and equivalents	$ 110,350	$ 99,045
Accounts receivable, net of allowances of $4,205 and $5,641	201,696	196,957
Inventories	185,532	171,747
Prepaid and other current assets	54,565	42,079
Assets of discontinued operations	171,466	735,816
Total Current Assets	723,609	1,245,644
PROPERTY, PLANT AND EQUIPMENT, net	204,691	195,950
OPERATING LEASE RIGHT-OF-USE ASSETS	65,335	53,041
GOODWILL	191,253	191,253
INTANGIBLE ASSETS, net	346,815	363,955
EQUITY METHOD INVESTMENT	118,600	0
NOTES RECEIVABLE (related party)	162,039	0
OTHER ASSETS	23,713	26,191
Total Assets	1,836,055	2,076,034
CURRENT LIABILITIES
Notes payable and current portion of long-term debt	8,011	8,033
Accounts payable	90,975	57,663
Accrued liabilities	130,553	114,628
Current portion of operating lease liabilities	16,834	15,473
Liabilities of discontinued operations held for sale	53,814	250,390
Total Current Liabilities	300,187	446,187
LONG-TERM DEBT, net	1,259,624	1,404,276
LONG-TERM OPERATING LEASE LIABILITIES	52,523	40,453
OTHER LIABILITIES	94,565	111,146
Total Liabilities	1,706,899	2,002,062
COMMITMENTS AND CONTINGENCIES - See Note 21
SHAREHOLDERS’ EQUITY
Total Shareholders’ Equity	129,156	73,972
Total Liabilities and Shareholders’ Equity	$ 1,836,055	$ 2,076,034