Griffon Corp (GFF) Tops Q3 EPS by 1c; Approves $50M Stock Buyback
Griffon Corp (NYSE: GFF) reported Q3 EPS of $0.26, $0.01 better than the analyst estimate of $0.25. Revenue for the quarter came in at $462.2 million versus the consensus estimate of $512.08 million.
Griffon authorized the repurchase of an additional $50 million of Griffon’s outstanding common stock. Prior to this authorization and after giving effect to the purchase of 64,706 shares for a total of $1.1 million in the current quarter through and including August 2, 2016, $14.6 million was available from the July 2015 authorization. Accordingly, Griffon now has a total of $64.6 million available for the purchase of its shares of common stock.
From August 2011 to June 30, 2016, Griffon repurchased 15,020,853 shares of common stock, for a total of $195,364 or $13.01 per share, under Board authorized repurchase programs. Under this authorization, the Company may purchase shares, depending upon market conditions, in open market or privately negotiated transactions, including pursuant to a 10b5-1 plan.
For earnings history and earnings-related data on Griffon Corp (GFF) click here.