Today's presentation includes forward-looking statements that reflect management's current expectations about the Company's future business and financial performance.
These statements are subject to certain risks and uncertainties that could cause actual results to differ from anticipated results.
Factors that could cause actual results to differ from anticipated results are identified in Item 1A of the Company's Form 10-K, and Item 1A of the most recent Quarterly Report on Form 10-Q and also the Company's Earnings Release dated January 25, 2021.
2
Conference Call Logistics
/ / / / / / / / / / / / / / / / / /
The release, accompanying slides and replay webcast are available online at www.graco.com/ir
Telephone replay will be available after 2 p.m. ET, January 26, 2021. The replay by telephone will be available through 1 p.m. ET, February 2, 2021.
855-859-2056- Conference ID #5162659
404-537-3406- with the same conference ID #, for international participants
3
Financial Results
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Statement of Earnings
Fourth Quarter
Full Year
$ in millions except per share amounts
2020
2019
Change
2020
2019
Change
Sales
$
470.3
$
412.3
14 %
$
1,650.1
$
1,646.0
0 %
Gross Profit
244.8
209.4
17 %
854.9
859.8
(1)%
% of Sales
52.1%
50.8%
1.3 pts
51.8%
52.2%
(0.4) pts
Operating Earnings
132.1
104.2
27 %
391.7
424.5
(8)%
% of Sales
28%
25%
3 pts
24%
26%
(2) pts
Net Earnings
$
114.7
$
84.8
35 %
$
330.5
$
343.9
(4)%
% of Sales
24%
21%
3 pts
20%
21%
(1) pts
Diluted Earnings Per Share
$
0.66
$
0.49
35 %
$
1.92
$
2.00
(4)%
Diluted Shares in Millions
173.2
171.8
1 %
172.0
171.6
0 %
Operating Earnings, Adjusted (1)
$
132.1
$
104.2
27 %
$
426.9
$
424.5
1 %
Net Earnings, Adjusted (1)
$
106.0
$
82.0
29 %
$
335.2
$
325.4
3 %
Diluted Earnings Per Share, Adjusted (1)
$
0.61
$
0.48
27 %
$
1.95
$
1.90
3 %
Operating earnings, net earnings and diluted earnings per share for 2020 and 2019 have been adjusted to provide a more consistent basis of comparison of on-going results. See page 5 for a reconciliation of the adjusted non-GAAP financial measures to GAAP.
4
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Graco Inc. published this content on 25 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 January 2021 21:29:07 UTC
Graco Inc. is a manufacturing company. It supplies technology and expertise for the management of fluids and coatings in industrial and commercial applications. It operates through three segments: Contractor, Industrial and Process. Contractor segment offers sprayers that apply paint to walls and other structures, with product models for users ranging from do-it-yourself homeowners to professional contractors. It also manufactures two-component proportioning systems that are used to spray polyurethane foam (spray foam) and polyurea coatings. Industrial segment includes the Industrial and Powder divisions. The Industrial segment markets equipment and solutions for moving and applying paints, coatings, sealants, adhesives and other fluids. Process segment includes the Process and Lubrication divisions. The Process segment markets pumps, valves, meters and accessories to move and dispense chemicals, oil and natural gas, water, wastewater, petroleum, food, lubricants and other fluids.
GRACO INC. 
