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Graco Q3 Profit Rises 36%

Graco Inc. (GGG) Wednesday reported third-quarter net income of $114.1 million or $0.66 per share, up 36% from $84.1 million or $0.49 per share last year.

Adjusted earnings improved to $0.59 per share from $0.45 per share last year.

Sales for the quarter grew 10% to $439.3 million from $400.6 million last year.

Analysts polled by Thomson Reuters estimated earnings of $0.42 per share on revenues of $385.41 million.

"While demand for our Contractor products remains solid, there is still uncertainty in many of the end markets served by our Industrial and Process segments," said McHale. "We believe that this challenging environment will continue for at least the remainder of the year. I want to thank our employees, channel partners and suppliers around the world for continuing to execute at a high level."

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