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 Inc. (NYSE:GGG) held a groundbreaking ceremony for its new 500,000-square-foot distribution center in Dayton, Minnesota, on August 30. This facility will serve as the Company's main global distribution hub, enhancing operational success and future growth opportunities. The project is part of the second phase of Graco's French Lake development, which began in 2021 after acquiring 100 acres of land in Dayton. Phase one is expected to complete soon. The company collaborates with McGough, JLG, and Tegra on this project.
Graco Inc. (NYSE:GGG) has announced the acquisition of approximately 20 acres of land adjacent to its existing Anoka facility. This strategic purchase aims to support the company's ongoing growth, enabling future facility expansion. Peter O'Shea, President of the Worldwide Lubrication Equipment Division, emphasized the importance of this investment in providing space for enhanced manufacturing capabilities and technology integration. Graco specializes in fluid handling equipment, serving various industries globally.
Graco Inc. (NYSE: GGG) reported strong Q2 2022 results, with net sales increasing by 8% to $548.5 million compared to Q2 2021. Operating earnings rose 11% to $148.7 million, while net earnings reached $117.4 million, an increase of 7%. Earnings per share also improved by 8%, reaching $0.68. The Industrial and Process segments experienced double-digit sales growth, but the Contractor segment faced challenges due to component shortages. Despite inflation and currency impacts reducing earnings by $7 million, the company maintains a strong outlook for the remainder of the year.
Graco Inc. (NYSE: GGG) will announce its Second Quarter 2022 earnings after the NYSE closes on July 27, 2022. A live conference call for analysts and investors will follow on July 28, 2022, at 11 a.m. ET. This session will be available via a real-time webcast on Graco's website. A replay option will also be provided post-event. Graco specializes in fluid management technology across various industries, including manufacturing, processing, and construction.
The Board of Directors of Graco Inc. (NYSE:GGG) has announced a regular quarterly dividend of $0.21 per common share. This dividend will be payable on August 3, 2022, to shareholders of record as of the close of business on July 18, 2022. With approximately 169.1 million shares outstanding, this decision reflects the company's commitment to returning value to its shareholders.
Graco Inc. (NYSE:GGG) has launched the Contractor King™ air-powered protective coatings sprayer and Silver Plus HP™ spray gun, designed to enhance contractor productivity. The new sprayer offers a compact and lightweight design, being 85 pounds lighter and 48% smaller than traditional models, without compromising performance. The Silver Plus HP gun handles pressures up to 7,250 psi, suitable for high solid coatings. Graco's sprayers provide various pressure ratios and feature QuickChange™ Endurance™ pumps for easy maintenance.
Stratasys Ltd. (NASDAQ: SSYS) has unveiled two new composite-ready 3D printers, the F190CR and F370CR, along with a new FDM Nylon-CF10 material infused with carbon fiber. These innovations aim to enhance additive manufacturing capabilities on factory floors, enabling faster, cost-effective production of high-strength parts. The printers boast features like integrated GrabCAD Print software, 99% dimensional repeatability, and a larger build volume compared to competitors. Orders for the new products are currently being accepted, with shipments expected in June.
Graco Inc. (NYSE: GGG) reported a 9% increase in net sales to $494.3 million for Q1 2022, driven by significant growth in the Industrial and Process segments. Operating earnings remained stable at $128.4 million, while net earnings fell 5% to $100.8 million. The gross profit margin decreased due to rising product costs and operational expenses increased by 6%. Management expects continued demand but acknowledges potential geopolitical risks, particularly in EMEA. Full-year guidance maintains high single-digit growth.
Graco Inc. (NYSE: GGG) introduces the LineLazer® ES 500, an electric battery-powered airless striper designed for both indoor and outdoor striping jobs. This innovative product allows contractors to expand their offerings while eliminating engine fumes and noise, enhancing revenue potential. The ES 500 features DeWalt FlexVolt® batteries, a Fast Charger, and a range of advanced technologies for improved performance. With an emphasis on productivity and comfort, the LineLazer ES 500 positions Graco as a leader in the striping equipment market.
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?
