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Compared to Estimates, Graco (GGG) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·2 min read

For the quarter ended March 2024, Graco Inc. (GGG) reported revenue of $492.19 million, down 7.1% over the same period last year. EPS came in at $0.65, compared to $0.74 in the year-ago quarter.

The reported revenue represents a surprise of -8.35% over the Zacks Consensus Estimate of $537.01 million. With the consensus EPS estimate being $0.74, the EPS surprise was -12.16%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Graco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Net Sales- Industrial: $141.99 million compared to the $153.55 million average estimate based on four analysts. The reported number represents a change of -5.5% year over year.

  • Net Sales- Process: $120.16 million compared to the $139.09 million average estimate based on four analysts. The reported number represents a change of -10% year over year.

  • Net Sales- Contractor: $230.04 million versus $244.96 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.5% change.

  • Operating earnings /(loss)- Industrial: $44.80 million compared to the $54.05 million average estimate based on four analysts.

  • Operating earnings /(loss)- Unallocated corporate (expense): -$12.99 million compared to the -$8.48 million average estimate based on four analysts.

  • Operating earnings /(loss)- Contractor: $66.14 million compared to the $72.63 million average estimate based on four analysts.

  • Operating earnings /(loss)- Process: $35.04 million versus $42.63 million estimated by four analysts on average.

View all Key Company Metrics for Graco here>>>

Shares of Graco have returned -4% over the past month versus the Zacks S&P 500 composite's -3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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