Graco Q2 Net Income Rises - Quick Facts

(RTTNews) - Graco Inc. (GGG) reported second-quarter net income of $172.6 million or $2.90 per share compared to $66.2 million or $1.07 per share, last year. Net Earnings, adjusted, was $62.9 million or $1.05 per share, for the quarter.

On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.86 for the quarter. Analysts' estimates typically exclude special items.

Net sales were $335.5 million compared to $322.5 million, a year ago. Analysts expected revenue of $334.62 million for the quarter.

"On a constant currency basis, the company achieved low-to-mid-single-digit organic sales growth in all reportable segments and regions during the second quarter," said Patrick McHale, Graco's President and CEO.

Graco continues to target mid-single-digit organic sales growth, on a constant currency basis, and growth in all reportable segments and regions for the full-year 2015. The company noted that, at current exchange rates, unfavorable changes in foreign currency translation rates create a full-year headwind of approximately 5 percent on sales and 11 percent on earnings in 2015.