Why the price went up today

  • Graco Inc. (NYSE:GGG) stock price rose 2.4% today. That’s why it happened.

Graco Inc. (NYSE:GGG) stock price rose 2.4% today. Investors are reacting positively to the company’s fourth quarter results.

Graco had reported fourth-quarter EPS of $0.69, $0.06 better than analyst estimates of $0.63. And revenue for the quarter was $539.6 million, versus a consensus estimate of $518.94 million.

KEY QUOTE:

“We ended the year strong; posting record quarterly and annual sales and operating results in 2021. Robust order rates continued into the fourth quarter and we ended the year with a record backlog in all three segments. Although we continue to face supply chain, logistics and inflation challenges, we are managing these headwinds and Graco is well positioned to enter the new year. Thank you to our employees, suppliers and distributors whose hard work and dedication made this year a success. »

“We are launching a full-year 2022 outlook of high single-digit sales growth on an organic basis at constant currency, with positive expectations in every region and segment to report. Our pricing actions, associated to strong levels of demand across all major end markets and product categories, should set us up for another strong year.”

— Mark Sheahan, President and CEO of Graco

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.

Richard L. Militello