Filing Flows › Griffon (GFF) › Q4 FY24
Griffon (GFF) Q4 FY24 earnings results (fourth quarter fiscal 2024)
10-K filed Nov 13, 2024
Griffon (GFF) reported revenue of $660M for the fourth quarter fiscal 2024 (Q4 FY24), +3% from a year earlier and +2% from the quarter before. Operating margin was 16.9%, net earnings $62.5M (9.5% of revenue).
Griffon, Q4 FY24: revenue $660M (+3% year over year), operating margin 16.9%, net earnings $62.5M, operating cash flow $72.1M. The chart follows the revenue to costs, profit and cash.
| Q4 FY24 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $660M | +2% | +3% |
| Gross profit | $263M | +6% | +7% |
| Operating profit | $112M | +25% | +41% |
| Net earnings | $62.5M | +52% | +49% |
| Operating cash flow | $72.1M | -41% | -41% |
| Free cash flow | $51.6M | -52% | -35% |
What changed
Revenue was $659.7M in Q4 FY24, up 3% year over year and up 2% from the previous quarter.
Gross margin was 39.9%, up 1.6 points from a year earlier. Operating profit was $111.7M, a 16.9% margin (up 4.5 points year over year). Of the extra revenue versus a year earlier, 176% reached operating profit, above the 12% margin then. Operating expenses fell 9% while revenue rose 3%. Net earnings were $62.5M, up 49% year over year. The effective tax rate was 28.1%.
Operating cash flow was $72.1M (down 41% year over year), 115% of net earnings. Non-cash charges added back $9.7M of depreciation and amortization and $7.1M of share-based compensation. Working capital and other items used $7.2M. Capital expenditures of $20.6M left free cash flow of $51.6M.
Questions
What was Griffon's revenue in the fourth quarter fiscal 2024?
Griffon (GFF) reported revenue of $660M for the fourth quarter fiscal 2024 (Q4 FY24), +3% from a year earlier and +2% from the quarter before.
Was Griffon profitable in the fourth quarter fiscal 2024?
Operating profit was $112M (16.9% of revenue) and net earnings $62.5M.
Source: Griffon 10-K on SEC EDGAR.