Company: GGG
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000042888-25-000014
Chunk: 0

Company: GRACO INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 1
Chunk 0
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Table of Contents

PART I     Item 1.

GRACO INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF EARNINGS

(Unaudited) (In thousands except per share amounts)

 Three Months Ended March 28,2025March 29,2024Net Sales$528,284 $492,189 Cost of products sold250,551 225,992 Gross Profit277,733 266,197 Product development19,375 21,872 Selling, marketing and distribution67,211 66,631 General and administrative47,134 44,698 Operating Earnings144,013 132,996 Interest expense713 744 Other (income) expense, net(8,174)(8,078)Earnings Before Income Taxes151,474 140,330 Income taxes27,373 18,131 Net Earnings$124,101 $122,199 Net Earnings per Common ShareBasic $0.74 $0.73 Diluted $0.72 $0.71 

See notes to consolidated financial statements.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited) (In thousands)

 Three Months Ended March 28,2025March 29,2024Net Earnings$124,101 $122,199 Components of other comprehensiveincome (loss)Cumulative translation adjustment19,903 (18,706)Pension and postretirement medical liability adjustment84 918 Income taxes - pension and postretirementmedical liability adjustment(21)(237)Other comprehensive income (loss)19,966 (18,025)Comprehensive Income$144,067 $104,174 

See notes to consolidated financial statements.

3

Table of Contents

GRACO INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(Unaudited) (In thousands)

March 28,2025December 27,2024ASSETSCurrent AssetsCash and cash equivalents$536,138 $675,336 Accounts receivable, less allowances of $6,200 and $6,000372,730 362,533 Inventories409,950 404,676 Other current assets50,182 54,896 Total current assets1,369,000 1,497,441 Property, Plant and Equipment, net765