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 Minneapolis-based manufacturer of equipment used to move, measure, control, dispense and spray fluid and powder materials. This news page focuses on company announcements, earnings results and corporate developments that affect Graco’s role in pump and pumping equipment manufacturing and related industrial markets.
Investors and industry observers can use this feed to follow Graco’s quarterly earnings releases, where the company reports segment performance for its Contractor, Industrial and Expansion Markets segments, along with regional sales trends across the Americas, EMEA and Asia Pacific. These releases often include commentary on organic revenue, contributions from acquired operations, tariffs, pricing actions and product mix.
The news stream also covers capital allocation decisions such as regular quarterly dividends and share repurchase authorizations approved by the Board of Directors. Announcements detailing dividend amounts, record dates and payment dates, as well as new or expanded repurchase plans, provide insight into how Graco manages its common stock and returns capital to shareholders.
Another key component of Graco news is mergers and acquisitions activity. Recent items include the completed acquisition of Color Service S.r.l., a global manufacturer of specialized automatic precision dosing systems for powders and liquids, and the acquisition of Radia (Red Devil Equipment Company), a manufacturer of mixing, shaking and automated material handling equipment for the paint and coatings industry. These updates explain how Graco is broadening its powder handling and color solutions capabilities.
Board and governance updates, such as the appointment of new directors and committee assignments, are also reported through Graco’s news releases. For ongoing insight into the company’s financial performance, strategic acquisitions and governance actions, this page aggregates Graco-related news in one place for regular review.
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.
Graco Inc. (NYSE:GGG), a leading manufacturer of fluid handling equipment, has announced its regular quarterly dividend. The Board of Directors has declared a dividend of $0.255 per common share, which will be payable on November 6, 2024. Shareholders of record at the close of business on October 21, 2024 will be eligible to receive this dividend. Graco currently has approximately 168.8 million shares outstanding. This announcement demonstrates the company's commitment to returning value to its shareholders through consistent dividend payments.
Graco Inc. (NYSE:GGG) has acquired the megasonic and ultrasonic wet cleaning systems business of PCT Systems, a California-based manufacturer of high-purity fluid handling solutions. PCT serves various industries, including semiconductor, medtech, remediation, advanced optics, glass, and additives. The company specializes in designing and manufacturing heated process tanks, megasonic cleaning systems, generators, transducer assemblies, and custom tanks.
Graco's President and CEO, Mark Sheahan, stated that this acquisition complements their existing line of high-purity chemical delivery equipment used in producing semiconductors, solar panels, LED flat panel displays, and other electronics. The move is considered a strategic fit within Graco's White Knight business and supports their expansion in the semiconductor market.
Graco (NYSE: GGG) announced its Q2 2024 results on June 28. Key metrics include:
Net Sales: $553.2M, down 1% YoY. Operating Earnings: $161.4M, up 3% YoY. Net Earnings: $133M, down 1% YoY. Diluted EPS: $0.77, down 1% YoY. Year-to-date figures show a 4% decline in net sales and a 3% drop in net earnings. Adjusted net earnings for Q2 increased 3%.
Sales Segments:
- Contractor: Sales up 5% due to new product launches.
- Industrial: Sales down 5%, impacted by weak Asia Pacific markets.
- Process: Sales down 9%, affected by soft semiconductor and industrial lubrication markets.
Geographical Performance:
- Americas: Sales up 5%.
- EMEA: Sales down 6%.
- Asia Pacific: Sales down 18%.
Gross Profit Margin: Improved by 2 percentage points for Q2. Operating expenses rose 4% due to new distribution center relocation and product development costs. The company lowered its FY 2024 outlook to low single-digit sales decline.
Graco Inc. (NYSE:GGG) has launched the E-Mix XT™, an innovative all-electric, two-component spray technology. This new system offers superior efficiency and ease of use for professionals in fluid handling. Key features include:
- Electric variable ratio adjustable from 1:1 to 6:1
- SmartSync™ Control System with touchscreen interface
- RatioGuard Protection for real-time monitoring
- FastClean™ Technology for quick cleaning
- Quiet, high-torque Xtreme Torque™ motors
- Dual Endurance® pumps with ProConnect®
The E-Mix XT eliminates the need for air compressors, providing a quieter and more energy-efficient solution. It's available in 'Standard' and 'Pro' series, catering to different application needs.
Graco Inc. (NYSE:GGG) has launched the TrueCoat 360® Cordless Connect™, an innovative airless painting system that connects to cordless drills. This new product aims to provide faster painting with a high-quality finish, reducing the mess associated with traditional brushing and rolling methods.
The system is designed for both indoor and outdoor projects, including doors, trim, walls, fences, and sheds. It offers the convenience of cordless operation while delivering Graco's TrueAirless® experience, which includes TRUEQUALITY™, TRUESPEED™, and TRUECONTROL™ features. This launch expands Graco's TrueCoat 360 family, allowing DIY enthusiasts to utilize their existing power tools for painting projects.
Graco (NYSE:GGG) has announced the launch of its Ultra XT and Mark XT Airless Sprayers, featuring the Xtreme Torque™ Brushless Motor. This new motor provides up to 15 times more torque and operates 90% slower than traditional motors, making it the quietest airless sprayer available—up to 10 times quieter. The sprayers also include Rapid-Response™ Pressure Control, delivering the industry's widest and steadiest pressure. Equipped with the Endurance™ Vortex® Pump, these sprayers promise up to three times longer life and reduced downtime and operating expenses. The advanced design aims to enhance productivity and provide a superior painting experience.