Griffon Corporation

Good day and welcome to the Griffin Corporation Fiscal Third Quarter 2026 Earnings Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Brian Harris, CFO. Please go ahead.

Thank you. Good morning and welcome to Griffin Corporation's third quarter fiscal 2026 earnings call. Joining me for this morning's call is Ron Kramer, Griffin's chairman and chief executive officer. Our press release was issued earlier this morning and is available on our website at www.griffin.com. Today's call is being recorded and the replay instructions are included in our earnings release. Our comments will include forward-looking statements about Griffin's performance. These statements are subject to risks and uncertainties that can change as the world changes. Please see the cautionary statements in today's press release and in our SEC filing. Finally, some of today's remarks will address the items that affect comparability between periods. These items are explained in our non-GAAP reconciliations included in our press releases. With that, I'll turn the call over to Ron. Thanks, Brian.

Good morning, everyone, and thanks for joining us. Griffin has executed particularly well this quarter, which is reflected in today's solid operational and financial results. In the quarter, revenue increased organically by 7%, and EBITDA by 2%, while generating strong year-to-date free cash flow of $194 million. Given our performance for the first nine months of the fiscal year, we're maintaining our revenue and EBITDA guidance for the year of $1.8 billion and $458 million, respectively. Our team's performance remains outstanding, showing resiliency, managing through dynamic global economic conditions, including Soft US Housing and Commercial Construction Markets. Regarding our strategic actions, earlier this week, we were very pleased to announce the closing of the joint venture for our Australasia business. At closing, we received 181 million in cash, a 49 million note receivable, and a 49% equity interest. The closing of the Australasia transaction concludes a series of strategic actions that have transformed Griffin into a pure-play building products company. From these transactions, we received a total of $281 million in cash, $210 million in 10% pick notes, while retaining minority interest with a book value of $139 million and an opportunity for further value creation. Turning to capital allocation, during the third quarter, we repurchased $53 million of our stock, or 626,000 shares, at an average price of $85 per share. At June 30, $194 million remained under the repurchase authorization. We continue to believe our stock is a compelling value. Since April 2023 and through June, We've repurchased $664 million of stock or 12.1 million shares at an average price of $54.86. These repurchases have reduced Griffin's outstanding shares by 21% relative to the total shares outstanding at the end of the second quarter of fiscal 2023. Subsequent to the June quarter, we repaid the remaining term loan fee balance of $285 million using a combination of proceeds from our strategic actions and our revolver. Also yesterday, the Griffin Board authorized a regular quarterly dividend of 22 cents per share payable on September 16th to shareholders of record on August 31st, marking the 60th consecutive quarterly dividend to shareholders. Our dividend has grown at an annualized compounded rate of 19% since we initiated dividends in 2012. These actions reflect the strength of our business, the successful execution of our strategic initiatives, and our continued confidence in our strategic plan and outlook. I'll turn it over to Brian for more details on the financial results. Thank you, Ron.