The 2020 Mid-Year Economic Update_long

Graco Sales Up 6% in 1Q

Profit for the quarter increased 36 percent to $68.8 million.

Graco Inc. (NYSE: GGG), Minneapolis, MN, reported sales for the first quarter of $306.5 million, a 6 percent increase from the same period a year ago, including organic sales growth of 5 percent and 5 percent growth from acquired operations, partially offset by 4 percent currency translation headwinds. Profit increased 36 percent to $68.8 million.

"Our strongest region remains the Americas, growing at a double-digit rate in the quarter, led by 27 percent growth in our contractor segment," said Patrick J. McHale, president and CEO. "The contractor business continues to benefit from the recovery in the U.S. construction market."

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