M&A - GRACO INC

Form Type: 10-Q

Filing Date: 2025-04-23

Corporate Action: Acquisition

Type: New

Accession Number: 000004288825000014

Filing Summary: Graco Inc. reported financial results for the first quarter of 2025, ending March 28, 2025. The company achieved net sales of $528.3 million, a 7.3% increase compared to $492.2 million in the same period the previous year. Gross profit for the quarter was $277.7 million, with an operating income of $144 million. The net earnings for the quarter were reported at $124.1 million, slightly up from $122.2 million year over year, resulting in basic and diluted earnings per share of $0.74 and $0.72, respectively. The company noted a significant acquisition of Corob S.p.A. for €230 million in cash plus additional contingent consideration, which is expected to enhance their market presence. Reporting now includes new segment classifications as of January 1, 2025, expanding into Contractor, Industrial, and Expansion Markets, which reflects a shift in organizational structure. The financial statements were unaudited and indicate a robust position with total assets of $3.0 billion and shareholders' equity of $2.5 billion. The results highlight an increase in market demand and a positive outlook on operational efficiency, leading to overall strong performance despite previous economic challenges.