Graco reports Q3 EPS 73c, consensus 74c

Reports Q3 revenue $543.4M, consensus $562.04M. “Sales increased by 5% in the third quarter, with a strong 6% contribution from recent acquisitions. Organic revenue declined 2% reflecting ongoing softness in global construction markets, particularly in North America,” said Mark Sheahan, Graco’s (GGG) President and Chief Executive Officer. “We did see encouraging growth in select end markets and geographies across our Industrial and Expansion Markets segments. Tariffs presented a challenge as anticipated, but our strategic pricing actions began to gain traction late in the quarter, leading to margin performance that exceeded expectations. We also advanced our growth strategy with the acquisition of Color Service in August.”