Movement Alert｜Graco Overnight Decline 7.92%, Q3 results and Q4 guidance came in below expectations

Market Focus10-22

On October 22, Graco recorded an Overnight fall of 7.92%, trading at $75.33/share, with turnover of $18,600.

The move followed a weaker-than-expected earnings update: third-quarter adjusted EPS was $0.81, up from $0.77 a year earlier but below consensus of $0.82-$0.83, while revenue rose to $586.4 million from $543.4 million and also missed expectations of about $588.0 million-$590.2 million.

More importantly, management guided fourth-quarter revenue to $610 million-$640 million, below the roughly $645 million market expectation. Although pre-earnings sentiment had been broadly constructive, the combination of a modest third-quarter miss and softer forward guidance appears to be the direct catalyst behind the stock's weakness.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment