Griffon Corp. Q1 Profit Increases, Beats Estimates

Griffon CorpShs

76.50 EUR -0.65%

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Kaufen / Verkaufen

(RTTNews) - Griffon Corp. (GFF) announced earnings for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $70.851 million, or $1.49 per share. This compares with $42.177 million, or $0.82 per share, last year.

Excluding items, Griffon Corp. reported adjusted earnings of $65.873 million or $1.39 per share for the period.

Analysts on average had expected the company to earn $1.19 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 1.7% to $632.371 million from $643.153 million last year.

Griffon Corp. earnings at a glance (GAAP) :

-Earnings: $70.851 Mln. vs. $42.177 Mln. last year. -EPS: $1.49 vs. $0.82 last year. -Revenue: $632.371 Mln vs. $643.153 Mln last year.

GFF was down by 5.72 percent at $70.06 in the pre-market trade on the New York Stock Exchange.