Graco (GGG) Misses Q4 EPS by 2c, Beats on Revenues

Graco (NYSE: GGG) reported Q4 EPS of $0.34, $0.02 worse than the analyst estimate of $0.36. Revenue for the quarter came in at $374.86 million versus the consensus estimate of $369.02 million.

• Sales for the quarter increased in all segments and regions. There were 14 weeks in the fiscal fourth quarter of 2016 compared to 13 weeks in 2017. All segments finished with double-digit percentage growth for the year.
• Gross margin rates for the quarter and year remained strong.
• Increases in sales and earnings-based incentives, spending on growth initiatives and the pension settlement loss contributed to higher operating expenses in the fourth quarter of 2017.
• Diluted earnings per share in 2017 include a benefit of $0.09 for the quarter and $0.21 for the year from a required change in accounting for stock compensation.
• Non-recurring income tax adjustments reduced diluted earnings per share in 2017 by $0.17 for the quarter and $0.14 for the year.
• 2016 results included impairment charges that reduced diluted earnings per share for the quarter and year by $0.94.

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

You May Also Be Interested In

• Wolfe upgrades AT&T to Outperform as improving fundamentals outweigh Starlink risk
• Origin Bancorp, Inc. (OBK) Tops Q2 EPS by 9c
• LightPath Technologies to sell China unit for $4.5M in installments