News about Graco

Graco (GGG) reported record third-quarter revenue of $586 million, up 8%, with 4% organic growth and adjusted EPS of $0.81, up 5%. Organic orders rose 7% in the quarter and backlog grew 18% since the start of the year, but the adjusted operating margin fell 180 basis points to 27% on a product mix shift toward Powder Finishing systems. Management guided fourth-quarter revenue to $610–$640 million and announced a technology agreement with ABB to use Transverse Flux Motor technology in data center cooling towers. Industrial segment revenue came in slightly below expectations as some large capital projects were delayed.