Graco reports Q1 EPS 65c, consensus 74c

Reports Q1 revenue $492.2M, consensus $536.4M. “Sales were down in all segments and regions for the first quarter, with the exception of EMEA Contractor,” said Mark Sheahan, CEO. “The quarter was weaker than expected, which creates a challenging start to the year. Gross margins improved slightly, however lower sales volume negatively impacted operating earnings in the quarter.”