Graco: Q2 Earnings Insights

Shares of Graco GGG moved higher in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 67.57% year over year to $0.62, which beat the estimate of $0.60.

Revenue of $507,164,000 rose by 38.23% from the same period last year, which beat the estimate of $475,940,000.

Guidance

Graco Says Initiating Outlook For FY21 Of ' mid-to-high teen sales growth on an organic, constant currency basis'

Price Action

Company's 52-week high was at $79.37

Company's 52-week low was at $51.91

Price action over last quarter: Up 2.42%

Company Overview

Graco manufactures equipment used for managing fluids, coatings, and adhesives, specializing in difficult-to-handle materials. Graco's business is organized into three segments: industrial, process, and contractor. The Minnesota-based firm serves a wide range of end markets, including industrial, automotive, and construction, and its broad array of products include pumps, valves, meters, sprayers, and equipment used to apply coatings, sealants, and adhesives. The firm generated roughly $1.7 billion in sales and $410 million in operating income in 2020.