Graco (GGG) Tops Q3 EPS by 9c

Graco (NYSE: GGG) reported Q3 EPS of $1.15, $0.09 better than the analyst estimate of $1.06. Revenue for the quarter came in at $379.8 million versus the consensus estimate of $356.1 million.

“Demand levels remained robust and broad based in the third quarter,” said McHale. “We expect the positive business environment to continue into 2018, however we do note that our fourth quarter represents our most difficult comparable of the year. In addition to the strong fourth quarter last year, we also had 14 weeks compared to only 13 weeks in this year\'s fourth quarter. Just given the math, we anticipate low single-digit organic, constant currency growth in the fourth quarter. With that outlook we have the possibility to achieve double-digit sales growth for the full year 2017. I\'d like to thank our employees, suppliers, distributor partners and end customers for their contribution to our strong 2017 results. We will continue to invest in our core growth strategies as we finish the year, and will be working hard to get 2018 off to a good start.\"

For earnings history and earnings-related data on Graco (GGG) click here.

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