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What To Expect From Graco’s (GGG) Q1 Earnings

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Fluid and coating equipment company Graco (NYSE: GGG) will be reporting results this Wednesday after market close. Here’s what you need to know.

Graco met analysts’ revenue expectations last quarter, reporting revenues of $593.2 million, up 8.1% year on year. It was a satisfactory quarter for the company, with an impressive beat of analysts’ EBITDA estimates.

Is Graco a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Graco’s revenue to grow 6.3% year on year, in line with the 7.3% increase it recorded in the same quarter last year.

Graco Total Revenue

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Graco has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Graco’s peers in the industrial machinery segment, only Worthington has reported results so far. It exceeded analysts’ revenue estimates, delivering year-on-year sales growth of 24.4%. The stock was down 4.6% on the results.

Read our full analysis of Worthington’s earnings results here.

There has been positive sentiment among investors in the industrial machinery segment, with share prices up 11.6% on average over the last month. Graco is up 2.3% during the same time and is heading into earnings with an average analyst price target of $94.50 (compared to the current share price of $87.19).

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