Graco achieved record Q3 sales of $586.4 million, marking an 8% increase year-over-year, although operating earnings fell by 10% to $148.1 million. The company also reported a 7% rise in organic incoming orders during the third quarter. Furthermore, Graco established a strategic technology partnership with ABB specifically focusing on data centers.
The company reported quarterly sales of $586.4 million, but results fell short of analysts' estimates, while reported net income declined despite higher adjusted earnings per share.
Read the full storyAdjusted earnings per share rose with support from share buybacks, while organic incoming orders grew 7%. Management expects fourth-quarter revenue of 610 million to 640 million dollars.