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.
The Board of Directors of Graco (NYSE: GGG) appointed David M. Lowe as Chief Financial Officer and Treasurer, and Timothy R. White as President of its Worldwide Process Division, effective June 10, 2021. These changes coincide with Mark W. Sheahan transitioning from CFO to President and CEO. Sheahan expressed confidence in the seamless transition, citing Lowe's financial expertise and White's operational experience. Lowe, a long-time Graco employee, has held various senior roles since 1995, while White brings extensive operational knowledge from his tenure since 1992.
Graco Inc. (NYSE: GGG) reported strong Q1 2021 results, with net sales increasing by 22% to $454.1 million compared to Q1 2020. Net earnings rose 45% to $105.7 million, translating to a diluted earnings per share of $0.61. The Contractor segment saw remarkable growth, with a 38% sales increase. Despite a 9% rise in operating expenses due to sales-linked costs, gross profit margin improved by 1 percentage point. While management expressed optimism for future growth, they remain cautious about long-term demand uncertainty.
Graco Inc. (NYSE:GGG) has launched the new TapeLazerTM HP Automatic traffic tape applicator, enhancing efficiency in traffic tape applications. This system combines features from the LineLazer V line stripers with advanced technology, enabling operators to apply up to 14-inch wide traffic tape quickly and accurately. The TapeLazer HP allows for double lines in a single pass and pre-programmed skip lines without layout. Its innovative design ensures optimal tape adhesion and quick blade changes, increasing productivity for striping contractors.
Graco Inc. (NYSE: GGG) is set to release its First Quarter 2021 earnings on April 21, 2021, after market close. A conference call for analysts and investors will take place on April 22, 2021, at 11 a.m. ET, featuring a live webcast. The earnings report will be accessible on Graco's website. For those unable to attend, a replay will be available post-event. Graco specializes in fluid management systems for various industries, serving customers globally.
Graco Inc. (NYSE:GGG) announced the appointment of Mark W. Sheahan as President and CEO, effective June 10, 2021, following Patrick J. McHale's retirement. McHale, who has led Graco since 2007, will assist Sheahan during the transition until September 15, 2021. Sheahan, 56, has been with Graco since 1995 and served as CFO since 2018. The Board Chairman, Lee R. Mitau, emphasized Sheahan’s proven leadership and strategic capabilities, anticipating a smooth transition as Graco continues to prioritize operational excellence and innovation.
The Board of Directors of Graco Inc. (NYSE:GGG) has declared a quarterly dividend of $0.1875 per share, scheduled for payment on May 5, 2021. Shareholders of record as of April 19, 2021 will receive this dividend. Graco has approximately 168.8 million shares outstanding, indicating a continued commitment to returning value to its shareholders.
Graco Inc. (NYSE:GGG) has launched the Voltex™ Dynamic Mix Valve, designed for effective dispensing of two-component foaming urethanes and silicones. This valve ensures consistent blending, crucial for applications in electric vehicle (EV) battery encapsulation. Built to handle challenging materials, the Voltex features durable seals, disposable mixing elements, and advanced error detection technology, minimizing downtime and maintenance. Its flexible design integrates with existing Graco metering systems, serving diverse applications from automotive to industrial sectors.
Graco Inc. (NYSE:GGG) has acquired approximately 100 acres of undeveloped land in Dayton, Minnesota, part of the French Lake Industrial Center. This acquisition aims to support Graco's growth by facilitating the relocation of two business divisions from Minneapolis. A 500,000-square-foot facility is planned for development along West French Lake Road, with completion targeted for late 2022. Graco, a leader in fluid handling technology, operates globally and is committed to using this expansion to enhance its design, manufacturing, and distribution capabilities.
Graco Inc. (NYSE: GGG) reported a strong fourth quarter for 2020, with net sales of $470.3 million, a 14% increase year-over-year. Operating earnings rose by 27% to $132.1 million, while net earnings surged 35% to $114.7 million. Diluted EPS was up 35% to $0.66. Despite challenges in some markets, particularly in EMEA, the Contractor segment showed robust growth with a 35% sales increase. For the year, however, net sales were nearly unchanged at $1,650.1 million, indicating mixed performance. The effective tax rate decreased to 11%, supporting net earnings growth.
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