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GRIFFON CORP [GFF] has reported $77617.0K profit for Q4 2023 ended Q3.
GRIFFON CORP [GFF] has reported $77617.0 profit for Q4 2023 ended Q3.
The NEW YORK, New York based company recorded net profit of $196887.0K on operating income of 196887.0. Earnings per share rose to 1.42.
In comparing the values from the current reporting period to the year over year values in the Balance Sheet table, we can observe the following changes. Total Assets have decreased from $2,816,474 in September 2022 to $2,418,879 in September 2023. This decrease can be attributed to a decline in both current assets and non-current assets. Total Liabilities have also decreased from $2,338,904 in September 2022 to $2,103,635 in September 2023. This decrease can be attributed to a decline in both current liabilities and non-current liabilities. Total Shareholders' Equity has decreased from $477,570 in September 2022 to $315,244 in September 2023. This decrease can be attributed to a decrease in retained earnings and an increase in treasury shares. Overall, the financial position of the company has weakened over the year.
In the current reporting period, revenue amounted to $2,685.2 million, a decrease of 5.7% compared to the same period in the previous year. Cost of goods and services also decreased by 9.2% to $1,736.4 million. Despite the decrease in revenue and cost of goods sold, the company managed to achieve a net income of $77.6 million, a significant improvement from a net loss of $191.6 million in the previous year. This resulted in basic earnings per share of $1.49, indicating a profitable year for the company. Diluted earnings per share also showed improvement at $1.42. The weighted-average shares outstanding increased from 51,672 shares to 54,612 shares, signifying growth in the company's shareholder base. Overall, the company's comprehensive income for the year amounted to $90.3 million, reflecting a positive financial performance.