Graco Stock Price, News & Analysis

Graco Inc. (NYSE:GGG) has introduced Stellair ACE and Stellair™, the first industrial air spray guns to achieve Ergonomics Performance Certification. These innovative spray guns are designed to reduce fatigue potential and increase productivity for industrial painters. Stellair ACE, weighing only 209 grams, is up to 50% lighter than comparable manual pressure feed spray guns and uses up to 25% less muscle effort. Stellair, with aluminum construction, weighs 410 grams and reduces muscle exertion by up to 18%. The development process involved collaboration with United States Ergonomics and extensive testing with professional painters. These advancements in ergonomics, including minimized hand pressure points and improved gun balance, aim to enhance the wellbeing and efficiency of industrial painters.

Graco Inc. (NYSE:GGG), a leading manufacturer of fluid handling equipment, has announced its regular quarterly dividend. The Board of Directors has declared a dividend of $0.255 per common share, which will be payable on November 6, 2024. Shareholders of record at the close of business on October 21, 2024 will be eligible to receive this dividend. Graco currently has approximately 168.8 million shares outstanding. This announcement demonstrates the company's commitment to returning value to its shareholders through consistent dividend payments.

Graco Inc. (NYSE:GGG) has acquired the megasonic and ultrasonic wet cleaning systems business of PCT Systems, a California-based manufacturer of high-purity fluid handling solutions. PCT serves various industries, including semiconductor, medtech, remediation, advanced optics, glass, and additives. The company specializes in designing and manufacturing heated process tanks, megasonic cleaning systems, generators, transducer assemblies, and custom tanks.

Graco's President and CEO, Mark Sheahan, stated that this acquisition complements their existing line of high-purity chemical delivery equipment used in producing semiconductors, solar panels, LED flat panel displays, and other electronics. The move is considered a strategic fit within Graco's White Knight business and supports their expansion in the semiconductor market.

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.