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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 Inc. (GGG) reported a robust Q2 2021 with net sales of $507.2 million, a 38% increase from the previous year. Operating earnings surged by 199% to $133.8 million, while net earnings reached $110.1 million, up 282%. The diluted earnings per share also saw a significant rise of 271% to $0.63. Growth was marked across all geographic regions, particularly in the Industrial segment, which grew 53%. The company anticipates continued strong demand for the remainder of the year, forecasting mid-to-high teen sales growth on an organic basis.
Graco Inc. (NYSE: GGG) has appointed Anthony “Tony” Gargano as President, Asia Pacific, effective July 21, 2021. Gargano, who joined Graco in 2005, has extensive experience in various roles, notably as Vice President, Asia Pacific Advanced Fluid Dispense Sales and Marketing. With over 15 years at Graco and 10 years in outside industry roles, he has a successful track record in managing strategic initiatives, particularly in the automotive sector. His appointment aims to enhance Graco's operations and growth in the Asia Pacific region.
Graco Inc. (NYSE: GGG) will announce its Second Quarter 2021 earnings on July 21, 2021, after market close. A conference call for analysts and investors is scheduled for July 22, 2021, at 11 a.m. ET to discuss the results. Interested parties can listen to the live webcast on Graco's website, with a replay available later. Graco specializes in systems for fluid management across various industries, offering technology and expertise in dispensing and controlling fluids.
The Board of Directors of Graco has declared a quarterly dividend of $0.1875 per common share. This dividend is payable on August 4, 2021 to shareholders recorded by the close of business on July 19, 2021. Graco has around 169.7 million shares outstanding, highlighting a consistent return to shareholders. Graco specializes in fluid and coating management technologies for industrial and commercial uses, serving various global sectors. For more details, visit www.graco.com.
The Board of Directors of Graco (NYSE: GGG) appointed David M. Lowe as Chief Financial Officer and Treasurer, and Timothy R. White as President of its Worldwide Process Division, effective June 10, 2021. These changes coincide with Mark W. Sheahan transitioning from CFO to President and CEO. Sheahan expressed confidence in the seamless transition, citing Lowe's financial expertise and White's operational experience. Lowe, a long-time Graco employee, has held various senior roles since 1995, while White brings extensive operational knowledge from his tenure since 1992.
Graco Inc. (NYSE: GGG) reported strong Q1 2021 results, with net sales increasing by 22% to $454.1 million compared to Q1 2020. Net earnings rose 45% to $105.7 million, translating to a diluted earnings per share of $0.61. The Contractor segment saw remarkable growth, with a 38% sales increase. Despite a 9% rise in operating expenses due to sales-linked costs, gross profit margin improved by 1 percentage point. While management expressed optimism for future growth, they remain cautious about long-term demand uncertainty.
Graco Inc. (NYSE:GGG) has launched the new TapeLazerTM HP Automatic traffic tape applicator, enhancing efficiency in traffic tape applications. This system combines features from the LineLazer V line stripers with advanced technology, enabling operators to apply up to 14-inch wide traffic tape quickly and accurately. The TapeLazer HP allows for double lines in a single pass and pre-programmed skip lines without layout. Its innovative design ensures optimal tape adhesion and quick blade changes, increasing productivity for striping contractors.
Graco Inc. (NYSE: GGG) is set to release its First Quarter 2021 earnings on April 21, 2021, after market close. A conference call for analysts and investors will take place on April 22, 2021, at 11 a.m. ET, featuring a live webcast. The earnings report will be accessible on Graco's website. For those unable to attend, a replay will be available post-event. Graco specializes in fluid management systems for various industries, serving customers globally.
Graco Inc. (NYSE:GGG) announced the appointment of Mark W. Sheahan as President and CEO, effective June 10, 2021, following Patrick J. McHale's retirement. McHale, who has led Graco since 2007, will assist Sheahan during the transition until September 15, 2021. Sheahan, 56, has been with Graco since 1995 and served as CFO since 2018. The Board Chairman, Lee R. Mitau, emphasized Sheahan’s proven leadership and strategic capabilities, anticipating a smooth transition as Graco continues to prioritize operational excellence and innovation.
The Board of Directors of Graco Inc. (NYSE:GGG) has declared a quarterly dividend of $0.1875 per share, scheduled for payment on May 5, 2021. Shareholders of record as of April 19, 2021 will receive this dividend. Graco has approximately 168.8 million shares outstanding, indicating a continued commitment to returning value to its shareholders.
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