Griffon Corp
NYSE:GFF
Griffon Corp
Griffon Corporation, a company with a storied past, has managed to embed itself into the everyday lives of consumers across multiple sectors, making its mark through strategic diversification and precision. Founded in 1959, Griffon operates through its three main subsidiaries: Consumer and Professional Products, Home and Building Products, and Defense Electronics. Each of these divisions tells a part of Griffon's narrative. In Consumer and Professional Products, Griffon, through its subsidiary AMES, stands as a titan in the production of tools and outdoor living products, fulfilling both everyday backyard tasks and the needs of professional landscapers. This segment thrives on a dual approach of innovation and acquisition, blending established brands with strategic expansions in North America and beyond.
Their Home and Building Products segment, prominently represented by Clopay, offers a testament to enduring craftsmanship, focusing on the manufacture of garage doors and related products. This operation streams revenue by serving markets demanding for both new constructions and replacements, tapping into trends for enhanced home aesthetics and security. On the technological frontier, the Defense Electronics segment, executed through Telephonics Corporation, captures sophisticated markets by providing defense electronics used in military and aviation sectors, thus operating in the high-stakes arena of national security. Griffon's cohesive yet diverse portfolio demonstrates a calculated synergy, balancing steady consumer-driven revenues with the less predictable but potentially high-margin defense contracts, showcasing their ability to adapt and thrive through market ebbs and flows.
Griffon Corporation, a company with a storied past, has managed to embed itself into the everyday lives of consumers across multiple sectors, making its mark through strategic diversification and precision. Founded in 1959, Griffon operates through its three main subsidiaries: Consumer and Professional Products, Home and Building Products, and Defense Electronics. Each of these divisions tells a part of Griffon's narrative. In Consumer and Professional Products, Griffon, through its subsidiary AMES, stands as a titan in the production of tools and outdoor living products, fulfilling both everyday backyard tasks and the needs of professional landscapers. This segment thrives on a dual approach of innovation and acquisition, blending established brands with strategic expansions in North America and beyond.
Their Home and Building Products segment, prominently represented by Clopay, offers a testament to enduring craftsmanship, focusing on the manufacture of garage doors and related products. This operation streams revenue by serving markets demanding for both new constructions and replacements, tapping into trends for enhanced home aesthetics and security. On the technological frontier, the Defense Electronics segment, executed through Telephonics Corporation, captures sophisticated markets by providing defense electronics used in military and aviation sectors, thus operating in the high-stakes arena of national security. Griffon's cohesive yet diverse portfolio demonstrates a calculated synergy, balancing steady consumer-driven revenues with the less predictable but potentially high-margin defense contracts, showcasing their ability to adapt and thrive through market ebbs and flows.
JV Formation: Griffon announced a joint venture with ONCAP, combining AMES North America and Venanpri Tools to create a global hand tool and lawn/garden products company. Griffon will receive $100 million in cash, $160 million of second lien debt, and retain a 43% stake.
Portfolio Transformation: Griffon is taking steps to become a pure-play building products company, including strategic reviews of AMES Australia and UK, and combining Hunter Fan with Home and Building Products.
Quarterly Results: Q1 revenue grew 3% to $649 million; Home and Building Products EBITDA margin was 30.1%. CPP EBITDA rose 19% despite soft US demand.
Capital Return: $18 million in stock repurchases this quarter and a dividend of $0.22 per share declared, extending a 58-quarter dividend streak.
2026 Guidance: Full-year revenue from continuing operations expected at $1.8 billion, and adjusted EBITDA at $520 million. Free cash flow should exceed net income.
Market Outlook: Management remains optimistic about a housing market recovery, expects improvement in residential and commercial volumes, and sees continued pricing strength.
