Griffon reports Q3 EPS $1.24, consensus $1.31

Reports Q3 revenue $647.8M, consensus $688.94M.”Griffon’s third quarter results were highlighted by solid operating performance from Home and Building Products HBP, improved profitability at Consumer and Professional Products CPP and strong free cash flow conversion,” said Ronald J. Kramer, Chairman and Chief Executive Officer. “HBP continues to generate strong EBITDA margin while CPP’s profitability is benefiting from its global sourcing expansion strategy. With third quarter financial performance meeting our expectations, we are on track to achieve our previously provided, full-year guidance.” “During the third quarter, we generated strong free cash flow of $120M allowing us to reduce debt by $80M, repurchase $19M of stock and fund our $7Mregular quarterly dividend. These actions underscore our commitment to a capital allocation strategy that delivers value to our shareholders.”