By Connor Hart
Graco posted lower sales in the fourth quarter as it continued to experience slower demand across many end markets. The manufacturer of fluid-handling systems reported adjusted earnings of 64 cents a share on revenue of $548.7 million, missing analyst expectations for adjusted earnings of 77 cents a share on revenue of $556.9 million. For 2025, the company expects low single-digit sales growth on an organic basis. Shares fall 5%, to $81.69, in after-hours trading.
Brown & Brown's fourth-quarter revenue beat analyst expectations as commissions and fees rose. The insurance company said profit fell to $210 million from $269 million a year earlier, though adjusted per-share earnings of 86 cents and revenue of $1.18 billion beat the 77 cents a share and $1.12 billion that analysts polled by FactSet were expecting. Quarterly commissions and fees increased 15% in the quarter for annual growth of 12%. Shares rise 2.9%, to $111, in postmarket trading.
Neurocrine Biosciences amended its agreement with Takeda Pharmaceutical regarding the development and commercialization of osavampator, a treatment for major depressive disorder. The biopharmaceutical company said it will obtain exclusive rights for the drug in all territories world-wide except Japan, where Takeda will reacquire exclusive rights. Under the updated agreement, each company is responsible for development costs in their respective regions, and both companies are eligible to receive royalty payments. Shares rise 5%, to $155.59, in after-hours trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
January 27, 2025 18:48 ET (23:48 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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