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Griffon (GFF) to Report Q3 Earnings: What's in the Cards?
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Griffon Corporation (GFF - Free Report) is scheduled to release third-quarter fiscal 2023 results on Aug 2.
The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters, while missing in one. The average beat was 31.6%.
Let’s see how things have shaped up for GFF’s fiscal third quarter.
Griffon’s fiscal third-quarter performance is likely to have benefited from strong performance of the Home and Building Products (HBP) segment. The segment is expected to reflect higher revenues on the back of increased commercial and residential volumes. Reduced raw material costs are likely to have aided margins in the HBP segment.
However, the Consumer and Professional Products (CPP) segment is likely to have put up a weak show due to reduced consumer demand, elevated customer inventory levels and customer supplier diversification in the United States.
Adverse foreign currency movements might have weighed on Griffon’s top line in the to-be-reported quarter. Also, increased labor, transportation, advertising and marketing costs are likely to have dented the company’s bottom line.
What Does the Zacks Model Say
Our proven model does not conclusively predict an earnings beat for Griffon this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: Griffon has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 99 cents. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Griffon presently carries a Zacks Rank #2.
Highlights of Q2 Earnings
Griffon’s second-quarter fiscal 2023 earnings of $1.21 per share beat the Zacks Consensus Estimate of 68 cents. Total revenues of $710.98 million surpassed the Zacks Consensus Estimate by 11.61%. Both the top and bottom lines declined year over year.
Stocks to Consider
Here are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Emerson pulled off a trailing four-quarter earnings surprise of 4.5%, on average. The stock has gained 10.2% in the past three months.
Johnson Controls (JCI - Free Report) has an Earnings ESP of +0.24% and a Zacks Rank #3. The company is slated to release third-quarter fiscal 2023 earnings on Aug 2.
Johnson Controls delivered a trailing four-quarter earnings surprise of 1.4%, on average. The stock has rallied 16.3% in the past three months.
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Griffon (GFF) to Report Q3 Earnings: What's in the Cards?
Griffon Corporation (GFF - Free Report) is scheduled to release third-quarter fiscal 2023 results on Aug 2.
The company has an impressive earnings surprise history, having outperformed the Zacks Consensus Estimate in three of the preceding four quarters, while missing in one. The average beat was 31.6%.
Let’s see how things have shaped up for GFF’s fiscal third quarter.
Griffon Corporation Price and EPS Surprise
Griffon Corporation price-eps-surprise | Griffon Corporation Quote
Factors to Note
Griffon’s fiscal third-quarter performance is likely to have benefited from strong performance of the Home and Building Products (HBP) segment. The segment is expected to reflect higher revenues on the back of increased commercial and residential volumes. Reduced raw material costs are likely to have aided margins in the HBP segment.
However, the Consumer and Professional Products (CPP) segment is likely to have put up a weak show due to reduced consumer demand, elevated customer inventory levels and customer supplier diversification in the United States.
Adverse foreign currency movements might have weighed on Griffon’s top line in the to-be-reported quarter. Also, increased labor, transportation, advertising and marketing costs are likely to have dented the company’s bottom line.
What Does the Zacks Model Say
Our proven model does not conclusively predict an earnings beat for Griffon this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here, as elaborated below.
Earnings ESP: Griffon has an Earnings ESP of 0.00% as both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at 99 cents. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: Griffon presently carries a Zacks Rank #2.
Highlights of Q2 Earnings
Griffon’s second-quarter fiscal 2023 earnings of $1.21 per share beat the Zacks Consensus Estimate of 68 cents. Total revenues of $710.98 million surpassed the Zacks Consensus Estimate by 11.61%. Both the top and bottom lines declined year over year.
Stocks to Consider
Here are some companies, which according to our model, have the right combination of elements to beat on earnings this reporting cycle.
Emerson Electric Co. (EMR - Free Report) has an Earnings ESP of +2.35% and a Zacks Rank #2. The company is scheduled to release third-quarter fiscal 2023 (ended Jun 30, 2023) results on Aug 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Emerson pulled off a trailing four-quarter earnings surprise of 4.5%, on average. The stock has gained 10.2% in the past three months.
Johnson Controls (JCI - Free Report) has an Earnings ESP of +0.24% and a Zacks Rank #3. The company is slated to release third-quarter fiscal 2023 earnings on Aug 2.
Johnson Controls delivered a trailing four-quarter earnings surprise of 1.4%, on average. The stock has rallied 16.3% in the past three months.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.