Graco Q3 Profit Tops Estimates - Quick Facts

(RTTNews) - Graco Inc. (GGG) reported that its third-quarter net earnings increased to $59.6 million or $0.97 per share, from $56.1 million or $0.89 per share, last year.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.94 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $302.6 million, compared to $277.0 million, prior year. Analysts expected revenue of $303.67 million for the quarter. The company expects mid-single digit organic growth in the fourth quarter, consistent with the second half outlook announced previously.

"With the benefit of the three acquisitions that Graco has closed in the last year, including Alco Valves that was acquired in October, total company sales should grow at a double-digit pace in the final quarter of the year," said Patrick McHale, Graco's President and CEO.