By Sabela Ojea
Graco posted lower sales in the fourth quarter as it continued to experience slower demand across many end markets, and guided for low single-digit sales growth in 2025.
Shares fall 6.9% to $80 in postmarket trading on Monday.
The manufacturer of fluid-handling systems and products posted a net profit of $108.7 million, or 63 cents a share, compared with $110 million, or 64 cents a share, for the same period a year earlier.
Stripping out one-time items, the company's earnings per share came in at 64 cents. Analysts polled by FactSet had forecast adjusted earnings of 77 cents.
Sales fell 3% to $548.7 million, missing the $556.9 million expected by Wall Street, according to FactSet.
Chief Executive Mark Sheahan said demand in China and for semiconductor products appear to have stabilized. "We are expecting growth in these areas in 2025."
For 2025, the company expects low single-digit sales growth on an organic basis, Sheahan added.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
January 27, 2025 16:45 ET (21:45 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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