Graco Posts Record Third-Quarter Sales as Net Earnings Fall

Graco’s third-quarter sales reached a record $586.4 million in the period ended Sept. 25, while net earnings fell to $121.6 million from a year earlier. The fluid-handling equipment maker’s sales increased 8% from the year-earlier quarter. Organic sales contributed four percentage points of growth, and acquired operations contributed another four percentage points. Adjusted diluted earnings were 81 cents per share, up from 77 cents a year earlier. Reported diluted earnings fell to 75 cents per share from 82 cents. Operating earnings declined 10% to $148.1 million.

Source: TokenPost