Welcome to our dedicated page for Graco news (Ticker: GGG), a resource for investors and traders seeking the latest updates and insights on Graco stock.
Graco Inc. (NYSE: GGG) is a globally recognized leader in fluid handling systems and components. Founded in 1926, the Minnesota-based company excels in providing technology and expertise for managing fluids in both industrial and commercial applications. Graco designs, manufactures, and markets systems and equipment that move, measure, control, dispense, and spray fluid materials. The company's offering includes pumps, valves, meters, sprayers, and equipment for applying coatings, sealants, and adhesives, specializing in difficult-to-handle materials.
Graco's operations are segmented into three main categories: Industrial, Process, and Contractor. The Industrial segment focuses on products used in manufacturing and assembly processes, while the Process segment deals with fluid handling systems for industries such as oil, gas, and food & beverage. The Contractor segment serves professionals and do-it-yourselfers in the construction and home improvement sectors.
The company maintains an aggressive strategy for designing and developing new products, underpinning its commitment to innovation. By leveraging a worldwide network of distributors and other channels, Graco ensures its products reach a diverse customer base. The company is also focused on expanding into new markets through continuous product development and strategic acquisitions.
In 2023, Graco generated approximately $2.2 billion in sales, reflecting its strong market presence and the effectiveness of its business strategies. Recent achievements include the successful launch of new product lines and improvements in existing technologies. Graco's partnerships and collaborations further bolster its market position, enabling the firm to meet the evolving needs of its customers efficiently.
With a clear focus on quality and reliability, Graco continuously strives to deliver superior fluid handling solutions that enhance productivity and performance across various industries, including automotive, industrial, and construction.
Graco (NYSE: GGG) has announced its upcoming Fourth Quarter 2024 earnings release, scheduled for after the New York Stock Exchange closes on Monday, January 27, 2025. The company will host a conference call with analysts and institutional investors to discuss the results on Tuesday, January 28, 2025, at 11 a.m. EST / 10 a.m. CST.
The earnings announcement will be available on Graco's investor website, and the conference call will include slides via webcast. Interested parties can access the live webcast through the company's website, with registration required at least 15 minutes before the call. For those unable to attend the live event, a replay will be available on Graco's investor website.
Graco Inc. (NYSE:GGG) has published its third environmental, social and governance (ESG) report, demonstrating its dedication to transparency and continuous improvement in various areas. The report highlights the company's expansion in electrically powered products and its ongoing support for electric vehicle battery manufacturing. Additionally, Graco emphasizes its focus on precision dispense technology to reduce waste and minimize volatile organic compounds (VOCs) emissions. The complete 2023 ESG report is accessible on Graco's website.
Graco Inc. (NYSE:GGG) has released unaudited supplemental financial information reflecting its new organizational structure effective January 1, 2025. The company will reorganize into three reportable segments:
1. Industrial segment: Combines the Industrial Division (merging current Industrial and Lubrication Equipment Divisions with Process Transfer Equipment business) and the Powder Division
2. Expansion Markets segment: Focuses on inorganic growth through the Expansion Markets Division, including environmental, semiconductor, high-pressure valves, and electric motors businesses, plus future ventures
3. Contractor segment: Remains unchanged from current structure
The restructured financial information is available on Graco's website investor page.
Graco (NYSE:GGG) announced that its Board of Directors has declared a quarterly dividend increase of 7.8%. The new dividend amount is $0.275 per common share, payable on February 5, 2025, to shareholders of record as of January 20, 2025. The company currently has approximately 169.3 million shares outstanding.
Graco Inc. (NYSE:GGG) has completed its acquisition of Corob S.p.A. for €230 million, with potential additional contingent consideration of up to €30 million. Corob, headquartered in Italy with operations in India and Canada, is a global leader in manufacturing dispensing and mixing equipment for tinting applications. The company generated revenue of €110 million in 2023 and employs over 600 people worldwide. The acquisition aims to strengthen Graco's position in the paint and coating equipment manufacturing sector, leveraging both companies' technological capabilities and expanding Graco's global manufacturing presence.
Graco Inc. (NYSE: GGG) reported Q3 2024 results showing a 4% decrease in net sales to $519.2 million. Operating earnings declined 11% to $145.7 million, while net earnings decreased 8% to $122.2 million. Diluted earnings per share fell 8% to $0.71. The company experienced soft demand across core markets, particularly in Asia Pacific, with the Industrial and Process segments most affected. Sales increased 1% in Americas but decreased in EMEA and Asia Pacific by 2% and 21% respectively. Despite volume challenges, gross margin improved by approximately 1 percentage point. The company reaffirmed full-year guidance expecting a low single-digit decline in organic revenue.
Graco Inc. (NYSE: GGG) has announced its upcoming Third Quarter 2024 earnings release and conference call schedule. The company will release its earnings report after the New York Stock Exchange closes on Wednesday, October 23, 2024. A full-text copy of the earnings announcement will be available on Graco's investor relations website.
Following the release, Graco management will hold a conference call with analysts and institutional investors on Thursday, October 24, 2024, at 11 a.m. ET / 10 a.m. CT. The call will include slides and will be accessible via a live webcast on the company's website. For those unable to attend the live event, a replay of the webcast will be made available on Graco's investor relations website.
Graco Inc. (NYSE:GGG) has announced a definitive agreement to acquire Corob S.p.A. for €230 million, with potential additional contingent consideration of up to €30 million. The acquisition is expected to close in Graco's fiscal fourth quarter, subject to customary conditions. Corob, a global leader in high-tech dispensing and mixing solutions for paints and coatings, reported revenue of €110 million in 2023.
Graco's President and CEO, Mark Sheahan, stated that the acquisition strengthens their global position in the growing paint and coating machinery manufacturing category within their Contractor segment. The move aligns with Graco's strategies of global growth and expansion into new and adjacent markets. Corob employs over 600 people worldwide, with headquarters in Italy and additional manufacturing operations in India and Canada.
Graco Inc. (NYSE:GGG), a leader in fluid and powder handling systems, has announced a new organizational structure effective January 1, 2025. The company will transition to a global, customer-centric operating structure with four business divisions: Industrial, Expansion Markets, Contractor, and Powder. This restructuring aims to unlock global growth opportunities and drive sustainable profitability and operational efficiency.
Key changes include:
- Integration of South and Central America, Europe, Middle East and Africa, and Asia Pacific regions into the business divisions
- Formation of a new global Industrial Division
- Creation of an Expansion Markets Division focused on inorganic growth
- Restructuring of the Contractor Division to serve global customers
Graco will report financial results under three segments: Contractor, Industrial, and Expansion Markets, starting Q1 2025.
Graco Inc. (NYSE:GGG) has introduced Stellair ACE and Stellair™, the first industrial air spray guns to achieve Ergonomics Performance Certification. These innovative spray guns are designed to reduce fatigue potential and increase productivity for industrial painters. Stellair ACE, weighing only 209 grams, is up to 50% lighter than comparable manual pressure feed spray guns and uses up to 25% less muscle effort. Stellair, with aluminum construction, weighs 410 grams and reduces muscle exertion by up to 18%. The development process involved collaboration with United States Ergonomics and extensive testing with professional painters. These advancements in ergonomics, including minimized hand pressure points and improved gun balance, aim to enhance the wellbeing and efficiency of industrial painters.
FAQ
What is the current stock price of Graco (GGG)?
What is the market cap of Graco (GGG)?
What does Graco Inc. specialize in?
When was Graco Inc. founded?
What are the main business segments of Graco Inc.?
What markets does Graco Inc. serve?
How much revenue did Graco Inc. generate in 2023?
How does Graco distribute its products?
What is Graco Inc.'s approach to product development?
What types of materials does Graco Inc. equipment handle?
Where is Graco Inc. headquartered?
What recent achievements has Graco Inc. made?
