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.
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Graco Inc. (NYSE: GGG) reported a strong first quarter for 2023 with net sales of $529.6 million, marking a 7% increase from the prior year. This growth was driven primarily by the Process segment, which experienced double-digit growth, while both the Americas and EMEA regions showed positive sales performance. However, sales in the Asia Pacific region declined by 6%. The company's operating earnings increased by 22% to $156.7 million, with net earnings rising 28% to $129.2 million. The diluted earnings per share (EPS) reached $0.75, up 29% from $0.58 a year earlier. Despite a positive outlook with guidance for low single-digit growth, Graco cautioned about macroeconomic uncertainties affecting future demand.
Graco Inc. (NYSE: GGG) has appointed Ronita Banerjee as Executive Vice President and Chief Human Resources Officer, effective May 24, 2023. She succeeds David Ahlers, who is retiring after 14 years. Banerjee previously held HR leadership roles at Westinghouse Electric Company, where she was Chief Human Resources Officer, and at Honeywell as a Global HR Vice President. Her experience is expected to enhance Graco’s HR initiatives, especially within manufacturing sectors. Banerjee holds a Master of Arts in Human Resources from the University of Minnesota and an MBA from Symbiosis Center for Management in India. This leadership change aims to bring fresh insights to Graco, continuing its legacy of success in fluid handling technology.
Graco Inc. (NYSE: GGG) will release its First Quarter 2023 earnings on April 26, 2023, after the market closes. A conference call will follow on April 27, 2023, at 11 a.m. ET to discuss earnings with analysts and investors. A live webcast of the conference will be available on the company’s website for real-time listening. Interested participants should register 15 minutes ahead of the call. Graco, headquartered in Minneapolis, specializes in technologies for fluid management across industrial and commercial sectors.
Graco Inc. (NYSE: GGG) has appointed Kathryn L. Schoenrock as the new Executive Vice President and Chief Technology Officer, effective May 1, 2023. Christopher D. Knutson has also been named Executive Vice President, Corporate Controller. Schoenrock has over ten years of experience at Graco, previously serving as Executive Vice President, Corporate Controller and Information Systems. Knutson joined Graco in 2008 and has held various key roles. Graco's leadership is optimistic about their contributions to drive growth and enhance global strategies.
Graco Inc. (NYSE: GGG) has launched the Ultra® QuickShot™, the first electric powered airless gun, which enhances efficiency for painting contractors. This innovative tool offers trigger speeds over 80X faster than traditional airless guns, promoting a smoother finish and reducing user fatigue due to its compact and lightweight design. With features including on-demand pressure control and portability through a battery-operated setup, it simplifies small job applications. This introduction highlights Graco's commitment to delivering advanced technology, aiming to elevate industry standards and contractor productivity.
Graco Inc. (NYSE: GGG) has launched the innovative GCI™ Series injector platform, establishing new standards in automatic lubrication systems. This groundbreaking cartridge injector is designed for construction and mining maintenance, promising up to twice the lifespan of existing injectors and significantly reducing replacement time from minutes to seconds. The GCI platform features an enhanced output capacity, superior accuracy, and a compact design, optimizing uptime and labor savings. By minimizing service downtime and maintenance frequency, the GCI system aims to boost productivity and profitability in fluid management.
The Board of Directors of Graco Inc. (NYSE:GGG) has declared a quarterly dividend of $0.235 per common share, set to be paid on May 3, 2023. Shareholders of record by April 17, 2023 will be eligible for this payment. Graco has approximately 167.9 million shares outstanding. The company specializes in fluid and coating management technology, providing systems and equipment for industrial and commercial applications globally.