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Dec 29, 2023
Graco Q4 2023 Earnings Report
Graco reported record fourth quarter and annual sales and operating earnings with sales growth in all segments.
Key Takeaways
Graco reported a 2% increase in net sales for the fourth quarter, with growth in all segments. The gross profit margin rate increased by approximately 4 percentage points. Operating earnings expressed as a percentage of sales increased 3 percentage points to 30 percent.
Net sales increased 2 percent for the fourth quarter with sales growth in all segments.
The gross profit margin rate for the quarter was approximately 4 percentage points higher than the comparable period last year due to realized pricing and lower product costs.
Operating earnings expressed as a percentage of sales for the quarter increased 3 percentage points to 30 percent.
Other non-operating expenses for the quarter included a non-cash pension settlement loss of $42 million in connection with the transfer of certain pension obligations to an insurance company.
Graco
Graco
Graco Revenue by Segment
Revenue by Segment
Contractor Revenue
CapyFin.comIndustrial Revenue
CapyFin.com Forward Guidance
The company is initiating full-year 2024 revenue guidance of low single-digits on an organic, constant currency basis.
Positive Outlook
- Focus on new product development
- Expanding distribution
- Entering new markets
- Targeting strategic acquisitions
- Drive shareholder value
Challenges Ahead
- Uncertain macroeconomic environment
Revenue & Expenses
Visualization of income flow from segment revenue to net income