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October 26, 2018 12:00 AM

Graco's industrial segment sales up 9.5% in Q3 2018

Utech Staff
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    Minneapolis, Minnesota — Graco, which manufactures polyurethane spray machinery equipment, reported a 9.5% rise in net sales in the third quarter of 2018.

    The company had sales of $416 m compared with $380 m in the 2017 third quarter.

    McHale

    Sales in its industrial segment, which houses, spray foam machinery were $195 m in the quarter. This is up 9.5% up on the $178 m recorded by the segment in the third quarter of 2017.

    CEO Patrick McHale said that the industrial segment 'posted solid revenue gains over difficult comparisons from a year ago'.

    Meanwhile, looking across the business as a whole, McHale added: 'With the exception of EMEA, underlying demand in our key end markets and geographies remains solid. We confirm our full-year outlook of mid-to-high single-digit organic sales growth on a constant currency basis.'

    However, he added: 'We expect to face headwinds from tariffs, material costs and currency translation in the fourth quarter.'

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