- Adjusted Earnings Per Share (EPS) for Q2: 77 cents, beating estimated 76 cents.
- Net sales: $553.2 million, down 1.1% year-over-year, below the estimated $564.2 million.
- Industrial sales including intersegment: $155.7 million, down 4.8% year-over-year, below the estimated $165.2 million.
- Process net sales: $127.9 million, down 9% year-over-year, below the estimated $138.9 million.
- Contractor net sales: $269.6 million, up 5.5% year-over-year, above the estimated $264.4 million.
- Graco President and CEO, Mark Sheahan, noted that strength in the Contractor segment was not enough to offset declines in other segments.
- Due to a slow first half of the year in Industrial and Process segments, Graco is lowering its full-year 2024 outlook to a low single-digit sales decline on an organic, constant currency basis.
- Analyst ratings: 3 buys, 8 holds, 1 sell.
A look at Graco Inc Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 4 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.0 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Graco Inc, a company specializing in fluid management technology for industrial and commercial purposes, has received a promising outlook based on the Smartkarma Smart Scores. With a strong focus on growth and resilience, Graco Inc scored high in these areas, indicating a positive long-term trajectory for the company. The company’s products play a vital role in various applications such as applying paints, cleaning equipment, and maintaining vehicles, showcasing its relevance and potential for expansion.
Although Graco Inc scored moderately on value, dividend, and momentum factors, its emphasis on growth and resilience bodes well for its future performance. Investors looking for a company with solid growth prospects and a strong foundation for navigating challenges may find Graco Inc to be a promising investment option in the fluid management industry.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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