Company: GGG
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000042888-25-000014
Chunk: 13

Company: GRACO INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 1
Chunk 13
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.1 %12.9 %   Adjusted20.5 %19.8 %Net Earnings, as reported$124.1 $122.2 Excess tax benefit from option exercises(3.6)(9.6)Net Earnings, adjusted$120.5 $112.6 Weighted Average Diluted Shares171.6 172.4 Diluted Earnings per Share   As reported$0.72 $0.71    Adjusted$0.70 $0.65 

16

The following table presents an overview of components of net earnings as a percentage of net sales:

Three Months Ended   March 28,2025March 29,2024Net Sales100.0 %100.0 %Cost of products sold47.4 45.9 Gross Profit52.6 54.1 Product development3.7 4.4 Selling, marketing and distribution12.7 13.5 General and administrative8.9 9.1 Operating Earnings27.3 27.1 Interest expense0.1 0.2 Other (income) expense, net(1.5)(1.6)Earnings Before Income Taxes28.7 28.5 Income taxes5.2 3.7 Net Earnings23.5 %24.8 %

Net Sales

The following table presents net sales by geographic region (in millions):

 Three Months Ended    March 28,2025March 29,2024Americas(1)$323.2 $306.5 EMEA(2)121.0 111.1 Asia Pacific84.1 74.6 Consolidated$528.3 $492.2 

(1)     North, South and Central America, including the United States

(2)    Europe, Middle East and Africa

The following table presents the components of net sales change by geographic region:

Three MonthsVolume and PriceAcquisitions CurrencyTotalAmericas3%3%(1)%5%EMEA(1)%13%(3)%9%Asia Pacific6%10%(3)%13%Consolidated3%6%(2)%7%

Gross Profit

The gross profit margin rate declined approximately 2 percentage points for the first quarter from the comparable period last year due to the unfavorable effects of lower margin rates from