Operating earnings in the division rose by 6.7% to $60.8m in the third quarter of 2020. This compares with $57m in the equivalent period last year.
'We continued to see weakness in the industrial and process segments throughout the quarter, although the declines were not as severe as the second quarter,' said CEO Patrick McHale.
Earnings improved because the company managed to reduce costs and increase prices overall for its products in the quarter.
Across the business as a whole, Graco generated sales of $439.3m in the third quarter of 2021, up 9.7% on the same period last year.
This is because sales from the company's contractor segment, which makes machinery for professional painters, offset falls in other areas. However, it warned that it is not clear how strong the recovery in this segment will be, or how long it will last.
Operating earnings across the business rose by 21.4% to $125m in the third quarter of 2020.