Graco Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 24, 2021
October 20, 2021 at 04:22 pm EDT
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Graco Inc. reported earnings results for the third quarter and nine months ended September 24, 2021. For the third quarter, the company reported sales was USD 486.7 million compared to USD 439.32 million a year ago. Net income was USD 103.83 million compared to USD 114.12 million a year ago. Basic earnings per share from continuing operations was USD 0.61 compared to USD 0.68 a year ago. Diluted earnings per share from continuing operations was USD 0.59 compared to USD 0.66 a year ago.
For the nine months, sales was USD 1,447.99 million compared to USD 1,179.78 million a year ago. Net income was USD 319.63 million compared to USD 215.77 million a year ago. Basic earnings per share from continuing operations was USD 1.89 compared to USD 1.29 a year ago. Diluted earnings per share from continuing operations was USD 1.83 compared to USD 1.26 a year ago.
Graco Inc. is a manufacturing company. It supplies technology and expertise for the management of fluids and coatings in industrial and commercial applications. It operates through three segments: Contractor, Industrial and Process. Contractor segment offers sprayers that apply paint to walls and other structures, with product models for users ranging from do-it-yourself homeowners to professional contractors. It also manufactures two-component proportioning systems that are used to spray polyurethane foam (spray foam) and polyurea coatings. Industrial segment includes the Industrial and Powder divisions. The Industrial segment markets equipment and solutions for moving and applying paints, coatings, sealants, adhesives and other fluids. Process segment includes the Process and Lubrication divisions. The Process segment markets pumps, valves, meters and accessories to move and dispense chemicals, oil and natural gas, water, wastewater, petroleum, food, lubricants and other fluids.