Griffon Updates 2024 Outlook: Now Expects Revenue Of $2.65B (Prior At $2.6B) Vs. Consensus Of $2.634B. Adjusted EBITDA Is Now Expected To Be $555 M (Prior At $525M)
Portfolio Pulse from Benzinga Newsdesk
Griffon Corporation (GFF) has updated its 2024 financial outlook, now expecting revenue of $2.65 billion, up from $2.6 billion, and adjusted EBITDA of $555 million, up from $525 million. These adjustments reflect stronger than anticipated results from its Home & Building Products (HBP) segment in the first half. Other financial guidance for 2024 remains unchanged.
May 08, 2024 | 11:51 am
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Griffon Corporation has raised its 2024 revenue and adjusted EBITDA forecasts due to strong performance in its HBP segment, indicating a positive outlook for the company's financial health.
The upward revision in Griffon's 2024 financial outlook, particularly the increases in revenue and adjusted EBITDA forecasts, is a strong indicator of the company's robust performance and positive future prospects. This is primarily attributed to the strong results from its Home & Building Products segment. Such positive adjustments are likely to be viewed favorably by investors, potentially leading to a short-term increase in stock price.
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