Reports Q4 revenue $548.7M, consensus $556.84M. “We continued to experience slower demand across many end markets in the fourth quarter,” said Mark Sheahan, Graco’s (GGG) President and CEO. “Soft demand for Industrial products in China, lower sales of semiconductor equipment and the timing of projects in the powder coatings equipment business were notable headwinds. We completed the Corob acquisition in November that contributed 3 percent of sales growth in the quarter. The strategic fit between Corob and our Contractor Division will serve us well in the future, and we welcome this business, and its dedicated employees into the Graco family. While 2024 has been challenging from a growth standpoint, I would like to thank our employees, suppliers, and distributors for their continued dedication and hard work.”
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GGG:
- GGG Earnings this Week: How Will it Perform?
- Trump Trade: President blasts EU regulators for targeting U.S. tech companies
- Ex-Dividend Date Nearing for These 10 Stocks – Week of January 13, 2025
- Graco price target raised to $97 from $93 at RBC Capital
- Graco upgraded to Outperform from Neutral at Exane BNP Paribas