Company: GGG
Filing Date: 2025-04-23
Form Type: 10-Q
Source: 0000042888-25-000014
Chunk: 4

Company: GRACO INC
Filing Date: 2025-04-23
Form: 10-Q
Item: Item 1
Chunk 4
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, Industrial and Expansion Markets. The Industrial segment consists of the newly formed Industrial Division and the Powder Division. The Company’s former Industrial and Lubrication Equipment Divisions, along with the Process Transfer Equipment business that was part of the Company’s former Process Division, were combined to form the new global Industrial Division. The Powder Division remains unchanged. The Expansion Markets segment consists of the Expansion Markets Division. The Company’s environmental, semiconductor, high-pressure valves and electric motors businesses, together with select future ventures and acquisitions, reside within this division. The Contractor segment, consisting of the Contractor Division, remains unchanged as a reporting segment relative to prior periods. Prior year segment information has been recast to conform to the current organizational structure.Segment information follows (in thousands):  Three Months Ended March 28,2025March 29,2024ContractorNet Sales$255,032 $230,042 Cost of products sold131,883 110,571 Gross Profit123,149 119,471 Operating expenses61,219 53,330 Contractor Operating Earnings$61,930 $66,141 IndustrialNet Sales$231,653 $224,860 Cost of products sold96,824 94,719 Gross Profit134,829 130,141 Operating expenses55,234 57,052 Industrial Operating Earnings$79,595 $73,089 

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Expansion MarketsNet Sales$41,599 $37,287 Cost of products sold20,163 18,491 Gross Profit21,436 18,796 Operating expenses11,371 12,044 Expansion Markets Operating Earnings$10,065 $6,752 Reportable Segment Operating Earnings Total$151,590 $145,982 Unallocated corporate expense7,577 12,986 Operating Earnings144,013 132,996 Interest expense713 744 Other (income) expense, net(8,174)(8,078)Earnings Before Income Taxes$151,474 $140,330 Geographic information follows (in thousands): Three Months Ended March 28,2025March 29,2024Net Sales (based on customer location)United States$282,557 $267,832 Other countries245,727 224,357 Total$528,284 $492,189  March 28,2025December 27,2024