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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. (NYSE:GGG) has launched the South China Innovation Center in DongGuan, China, aimed at enhancing support for the growing electronics market. The facility will enable closer collaboration with key customers and provide solutions for electronics assembly and new energy vehicles. Graco's investments in product development and testing underscore its commitment to the region, alongside an existing center in Shanghai. The center features training spaces and product labs to facilitate engineering and customer support.
Graco Inc. (NYSE: GGG) reported an 11% increase in net sales for Q3 2021, totaling $486.7 million, compared to $439.3 million in Q3 2020. Year-to-date sales rose 23% to $1.448 billion. Operating earnings remained stable at $124.6 million, while net earnings fell 9% to $103.8 million. The company experienced growth in its Industrial and Process segments, but the Contractor segment faced a sales decline of 4%. Supply chain challenges and inflation impacted gross profit margins, which decreased by 1 percentage point. Adjusted diluted earnings per share were $0.57, down 3% from a year ago.
Graco Inc. (NYSE:GGG) has unveiled its EGP™ electric transfer and on-demand pumps, designed as advanced replacements for the discontinued APEX pumps. These new pumps feature optimized designs, built-in filtration, and new pressure controls, enhancing performance and convenience across diverse applications. Capable of emptying a 55-gallon drum of 10W oil in under 8 minutes, the EGP models are more energy-efficient than pneumatic options. Field tests reveal high customer satisfaction, emphasizing their reliability and efficiency, contributing to Graco's strong reputation in fluid handling.
Graco Inc. (NYSE: GGG) will release its Third Quarter 2021 earnings after the market closes on Wednesday, Oct. 20, 2021. A conference call to discuss the results will take place on Thursday, Oct. 21, 2021, at 11 a.m. ET. Investors can access the live webcast and presentation slides on the company's website, with a replay available after the call. Graco specializes in fluid management technology, serving various industries globally. Additional information can be found on www.graco.com.
The Board of Directors of Graco (NYSE:GGG) has declared a quarterly dividend of 18.75 cents ($0.1875) per common share, payable on Nov. 3, 2021, to shareholders on record as of Oct. 18, 2021. With approximately 169.9 million shares outstanding, this dividend reflects Graco's commitment to returning value to its shareholders. Graco specializes in fluid management systems and serves various sectors globally, including manufacturing and construction.
Graco Inc. (NYSE:GGG) has launched the new LDX™, SDX™, and XDX™ series hose reels, designed for smooth release and recoiling with minimal maintenance. The line features a robust all-metal frame, enhancing durability and protection against workplace hazards. Suitable for various fluid types and environments, these reels cater to different market segments, from light-duty applications in garages to heavy-duty industrial uses. Graco will showcase these products at MINExpo INTERNATIONAL® in Las Vegas from September 13-15, 2021.
Graco Inc. (NYSE:GGG) has launched the Pulse® Level Tank Monitoring system, enhancing fluid management capabilities. This system offers multiple monitoring technologies, including the first fully Wi-Fi operated solution, allowing users to effectively track tank levels and manage inventory.
The Pulse Level system is designed for various industries, providing data to improve procurement and profitability. Graco aims to showcase this innovative solution at MINExpo INTERNATIONAL® in Las Vegas from Sept. 13-15, 2021.
Graco Inc. (NYSE: GGG) has launched the PerformAATM line of air assist and airless spray guns, designed for enhanced performance in industrial finishing. These guns feature material-specific air caps, providing optimal atomization for various applications, including wood and metal. Weighing just one pound, they are the lightest manual AA spray guns available, featuring an ultra-light trigger and ergonomic design. The PerformAA Auto is notable for its air cap orientation tool, improving efficiency in automated processes. More details can be found at graco.com/performaa.
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