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Bob Laback

Senior Equity Analyst at CJS Securities, Inc.

Bob Laback is a Senior Equity Analyst at CJS Securities, Inc., specializing in providing institutional equity research and market insights for publicly traded companies. He is known to cover companies such as Griffon Corporation, as evidenced by his participation in their recent earnings calls, and is respected for delivering incisive analysis within the industrial and diversified services sectors. With several years of experience at CJS Securities, Laback demonstrates a deep understanding of the companies he covers, though specific success rate or ranking metrics are not publicly available. He holds relevant industry credentials and maintains active FINRA registration, underscoring his professional standing in the securities research community.

Bob Laback's questions to GRIFFON (GFF) leadership

Question · Q4 2025

Bob Laback asked about any competitive changes or outlook shifts in the commercial or residential door markets, and how Griffon expects these markets to evolve over the next three to five years. He also inquired about the dynamics of CPP pricing, consumer acceptance, and the outlook for these factors in the U.S. for the upcoming year.

Answer

Ron Kramer, Chairman and Chief Executive Officer, highlighted Griffon's exceptional performance despite a weak consumer, difficult housing market, high interest rates, and inflation. He attributed this to underlying strength, a premium position in the garage door category, diversified channels (big box retailers and 2,500 dealers), and a 15-year pivot that has reduced new home construction to less than 10% of HBP. He noted no issues with pricing discipline among peers and sees a recovering housing market ahead, indicating HBP is nowhere near peak earnings. For CPP, he emphasized that brands and quality matter, and expects 2026 to be similar to 2025 with no immediate consumer recovery. Destocking has occurred, and the global sourcing initiative has helped maintain margins. He believes interest rates may decline in 2026, potentially improving the spring season, but tariff uncertainty remains.

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Question · Q4 2025

Bob Laback inquired about competitive changes or outlook shifts in Griffon's commercial and residential door markets, given the macro environment, and how these markets are expected to perform over the next three to five years. He also asked about pricing, consumer acceptance, and the outlook for U.S. Consumer and Professional Products (CPP) for the upcoming year.

Answer

Ron Kramer, Chairman and CEO, highlighted Griffon's exceptional performance despite a weak consumer and difficult housing market, attributing it to underlying strength, diversified channels, and innovation in the garage door category. He noted that new home construction is less than 10% of HBP and that the business continues to gain market share with no observed pricing discipline changes among peers. For CPP, he stated that brands and quality matter, and while the consumer has been weak with no immediate recovery expected in 2026, inventory destocking has occurred. He emphasized the benefits of the global sourcing initiative in maintaining margins and expressed confidence in the business's long-term position.

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