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Graco Inc. reports developments tied to its global fluid and powder handling equipment business. The company manufactures pumps, valves, meters, sprayers and systems used to move, measure, control, dispense and apply fluids, coatings, sealants, adhesives and other difficult-to-handle materials across industrial, automotive, construction and service markets.
Recurring news for GGG includes quarterly results by the Industrial, Process and Contractor segments, acquisition-driven sales changes, product introductions such as connected fluid-management systems, dividend declarations, leadership and board updates, and corporate milestones linked to the company’s long operating history.
The Board of Directors of Graco (NYSE:GGG) has announced a regular quarterly dividend of $0.21 per common share. This dividend will be payable on Nov. 2, 2022 to shareholders recorded at the close of business on Oct. 17, 2022. Graco has approximately 169.3 million shares outstanding, demonstrating its commitment to returning value to its shareholders.
Graco Inc. (NYSE: GGG) has officially opened a new 538,000-square-foot facility in Dayton, Minnesota, aimed at supporting its growth needs. This state-of-the-art building, featuring a 1.4-megawatt solar array, represents a commitment to sustainability, expected to offset over 23,000 tons of CO2 over 30 years. The expansion addresses full capacity at its current facilities and highlights Graco's investment in the community and environment, partnering with Impact Power Solutions and American Forests to enhance its green initiatives.
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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.
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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.