Graco(US:GGG) ZACKS·2024-10-23 23:36Core Insights - Graco Inc. reported a revenue of $519.21 million for the quarter ended September 2024, reflecting a 3.8% decline year-over-year and a surprise of -3.03% compared to the Zacks Consensus Estimate of $535.45 million [1] - The company's EPS was $0.71, down from $0.76 in the same quarter last year, resulting in an EPS surprise of -6.58% against the consensus estimate of $0.76 [1] Revenue Performance - Net Sales- Process: $120.62 million, which is -12.2% year-over-year and below the average estimate of $129.63 million [1] - Net Sales- Contractor: $242.30 million, a decrease of -1.2% year-over-year, compared to the average estimate of $254.93 million [1] - Net Sales- Industrial: $156.29 million, showing a slight decline of -0.5% year-over-year, exceeding the average estimate of $151.26 million [1] Operating Earnings - Operating earnings for Industrial were $52.36 million, surpassing the average estimate of $50.76 million [1] - Unallocated corporate expenses resulted in an operating loss of -$10.14 million, worse than the average estimate of -$8.59 million [1] - Operating earnings for Contractor were $71.05 million, below the average estimate of $81.85 million [1] - Operating earnings for Process were $32.45 million, also below the average estimate of $38.58 million [1] Stock Performance - Graco's shares have returned -2.2% over the past month, contrasting with the Zacks S&P 500 composite's +2.7% change [2] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [2]