Graco Stock Price, News & Analysis

Graco (NYSE: GGG) announced its Q2 2024 results on June 28. Key metrics include:

Net Sales: $553.2M, down 1% YoY. Operating Earnings: $161.4M, up 3% YoY. Net Earnings: $133M, down 1% YoY. Diluted EPS: $0.77, down 1% YoY. Year-to-date figures show a 4% decline in net sales and a 3% drop in net earnings. Adjusted net earnings for Q2 increased 3%.

Sales Segments:

• Contractor: Sales up 5% due to new product launches.
• Industrial: Sales down 5%, impacted by weak Asia Pacific markets.
• Process: Sales down 9%, affected by soft semiconductor and industrial lubrication markets.

Geographical Performance:

• Americas: Sales up 5%.
• EMEA: Sales down 6%.
• Asia Pacific: Sales down 18%.

Gross Profit Margin: Improved by 2 percentage points for Q2. Operating expenses rose 4% due to new distribution center relocation and product development costs. The company lowered its FY 2024 outlook to low single-digit sales decline.

Graco Inc. (NYSE:GGG) has launched the E-Mix XT™, an innovative all-electric, two-component spray technology. This new system offers superior efficiency and ease of use for professionals in fluid handling. Key features include:

- Electric variable ratio adjustable from 1:1 to 6:1
- SmartSync™ Control System with touchscreen interface
- RatioGuard Protection for real-time monitoring
- FastClean™ Technology for quick cleaning
- Quiet, high-torque Xtreme Torque™ motors
- Dual Endurance® pumps with ProConnect®

The E-Mix XT eliminates the need for air compressors, providing a quieter and more energy-efficient solution. It's available in 'Standard' and 'Pro' series, catering to different application needs.

Graco Inc. (NYSE:GGG) has launched the TrueCoat 360® Cordless Connect™, an innovative airless painting system that connects to cordless drills. This new product aims to provide faster painting with a high-quality finish, reducing the mess associated with traditional brushing and rolling methods.

The system is designed for both indoor and outdoor projects, including doors, trim, walls, fences, and sheds. It offers the convenience of cordless operation while delivering Graco's TrueAirless® experience, which includes TRUEQUALITY™, TRUESPEED™, and TRUECONTROL™ features. This launch expands Graco's TrueCoat 360 family, allowing DIY enthusiasts to utilize their existing power tools for painting projects.

Graco (NYSE:GGG) has announced the launch of its Ultra XT and Mark XT Airless Sprayers, featuring the Xtreme Torque™ Brushless Motor. This new motor provides up to 15 times more torque and operates 90% slower than traditional motors, making it the quietest airless sprayer available—up to 10 times quieter. The sprayers also include Rapid-Response™ Pressure Control, delivering the industry's widest and steadiest pressure. Equipped with the Endurance™ Vortex® Pump, these sprayers promise up to three times longer life and reduced downtime and operating expenses. The advanced design aims to enhance productivity and provide a superior painting experience.

Graco (NYSE: GGG) has announced that it will release its Second Quarter 2024 earnings report after market close on July 24, 2024. The full earnings announcement will be available on the company's website. Following the release, Graco management will host a conference call with analysts and institutional investors on July 25, 2024, at 11 a.m. ET / 10 a.m. CT to discuss the results. The call will feature a webcast with slides and can be accessed live via the company's website. A replay will also be available for those who cannot attend the live session.

Graco's Board of Directors has declared a regular quarterly dividend of $0.255 per common share. This dividend will be payable on August 7, 2024, to shareholders of record by the close of business on July 22, 2024. Graco currently has about 169 million shares outstanding.

This announcement reflects the company's ongoing commitment to returning value to its shareholders through regular dividend payments.

Graco (NYSE: GGG) has launched Pulse® Asset, a new extension of its Pulse Pro Fluid Management system designed for manufacturing facilities. This platform-based system uses programmable ID tags to track fluid dispenses by recording details such as which machines are filled, fluid quantity, operator identity, and dispensing time. Pulse Asset can store up to 40 dispenses offline and syncs with Pulse HUB for data access via local networks, eliminating manual record-keeping. The system aims to enhance efficiency, reduce human error, and improve accountability in fluid management.

Tennant Company (NYSE: TNC) has appointed Mark W. Sheahan, President and CEO of Graco Inc. (NYSE: GGG), to its Board of Directors, effective May 15, 2024. Sheahan brings nearly three decades of experience in global manufacturing, strategic growth, technology-driven product development, and financial strategy. Dave Huml, Tennant's President and CEO, expressed confidence that Sheahan's expertise will significantly contribute to the company's long-term success. Tennant Company, a leader in cleaning solutions, reported $1.24 billion in sales in 2023 and employs approximately 4,500 people worldwide.