Graco (GGG) Tops Q4 EPS by 9c, Revenues Beat

Graco (NYSE: GGG) reported Q4 EPS of $0.48, $0.09 better than the analyst estimate of $0.39. Revenue for the quarter came in at $412.8 million versus the consensus estimate of $392.62 million.

“Sales in the fourth quarter reflected trends noted in earlier quarters, with the Asia Pacific region continuing to be particularly challenging,” said Patrick J. McHale, Graco’s President and CEO. “While several end markets and segments were soft in 2019, we were pleased with the performance of our Contractor business and the EMEA region, as each posted solid organic growth. Thanks to the hard work, dedication and outstanding execution of our employees and distributors worldwide, we were able to stick to our playbook. We fully funded our growth strategies, made capital investments exceeding $100 million to expand production and service capabilities, and limited discretionary spending to protect bottom line results.”

Outlook

“Heading into 2020, we expect challenging end market conditions to remain in place for at least the first half of the year in our Industrial and Process segments” said McHale. “Our outlook for the Contractor segment remains positive as favorable conditions continue, and demand for our products is solid across major end markets and product categories. As a result, our outlook for 2020 is low single-digit revenue growth on an organic, constant currency basis.”

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

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