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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.
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.
Graco Inc. (NYSE: GGG) reported its fourth-quarter and full-year financial results for 2022, showcasing a 3% increase in net sales for the quarter ($555.0 million) and an 8% increase for the year ($2,143.5 million). Operating earnings rose 5% for the quarter to $152.5 million and 8% for the year to $572.7 million. Net earnings also increased by 5% for both periods. Despite currency translation headwinds impacting sales and earnings by approximately $23 million and $12 million, Graco's management expressed optimism for 2023, initiating a revenue outlook of low single-digit growth.
Graco Inc. (NYSE: GGG) will release its Fourth Quarter 2022 earnings on January 30, 2023, after the New York Stock Exchange closes. A conference call for analysts and investors will take place on January 31, 2023, at 11 a.m. ET. Interested listeners should register 15 minutes prior to the call on the company’s website. A replay will be available post-event. Graco, based in Minneapolis, specializes in fluid management systems for various industries, including manufacturing and construction.
Graco Inc. (NYSE:GGG) has released its first-ever Environmental, Social and Governance (ESG) report, outlining its commitments to its workforce, communities, and the environment. The report emphasizes the company's dedication to corporate responsibility, as highlighted by President and CEO Mark Sheahan. Graco plans to publish annual updates on its ESG performance moving forward. For further details, the report is available on Graco's website.
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Graco Inc. (NYSE:GGG) has appointed Claudio Merengo as an executive officer as of January 1, 2023. Merengo, who has served as President of Worldwide Gema, has been with Gema for 28 years and is credited with driving growth in powder coating equipment since Graco acquired the company in 2012. Graco's President and CEO, Mark Sheahan, commended Merengo's leadership, noting Gema's significant contributions to the company's revenue and earnings.
Graco Inc. (NYSE: GGG) has appointed Laura L. Evanson as the new Executive Vice President of Marketing, effective January 1, 2023. In her role, Ms. Evanson will oversee global marketing efforts to enhance coordination and leverage digital assets. Graco's CEO, Mark Sheahan, emphasized this appointment reflects the company's commitment to investing in digital initiatives that drive revenue growth. Ms. Evanson brings extensive experience from her tenure at Graco, spanning over 15 years in various marketing roles.
Graco Inc. (NYSE:GGG) has appointed Archie C. Black to its Board of Directors, effective February 20, 2023. Black brings over two decades of experience as CEO of SPS Commerce, where he transformed the company into a successful global entity. His expertise in leveraging technology for improved business processes is expected to contribute positively to Graco. Black will also serve on the Audit Committee and the Management Organization and Compensation Committee.
The Board of Directors of Graco Inc. (NYSE:GGG) has announced a quarterly dividend of $0.235 per common share, marking an 11.9% increase. The dividend is payable on February 1, 2023, to shareholders on record as of January 18, 2023. With approximately 170.2 million shares outstanding, this move reflects the company’s commitment to returning value to its shareholders.