Graco reports Q1 adjusted EPS 66c, consensus 74c

Reports Q1 revenue $540.1M, consensus $560.65M. “Sales increased 2 percent in the quarter, with contributions from acquired businesses offsetting organic revenue declines,” said Mark Sheahan, Graco’s (GGG) President and Chief Executive Officer. “In the Contractor segment, demand in infrastructure-related markets continued to be strong and resilient while residential construction activity remained soft. Industrial segment results were impacted by the timing of completion of powder finishing systems and other project activity. Despite a slower start to the year, incoming order rates improved as we progressed throughout the quarter.”