Update: Graco Shares Fall as Q3 Results, Q4 Outlook Miss Expectations

MT Newswires Live10-23

(Update with the stock movement in the headline and first paragraph.)

Graco (GGG) shares fell 15% in Thursday trading, a day after the company reported Q3 adjusted earnings and revenue that missed analyst expectations and forecast Q4 revenue below Wall Street estimates.

In the three months ended Sept. 25, adjusted earnings rose to $0.81 per diluted share from $0.77 a year earlier.

Analysts polled by FactSet expected $0.83.

Revenue increased to $586.4 million from $543.4 million a year earlier.

Analysts projected $590.2 million.

The company expects Q4 revenue of $610 million to $640 million. Analysts expect $645 million.

Price: 69.34, Change: -12.48, Percent Change: -15.25

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