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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.
Revenue by Segment
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
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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