Graco Inc

GGG: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$25.00	Zzbrj	Jyvfhpn

Graco Expects Low-Single-Digit Core Revenue Growth in 2023; Maintaining Fair Value Estimate

Krzysztof Smalec

Jan 31, 2023

Wide-moat-rated Graco finished 2022 on a strong note, as its fourth-quarter adjusted EPS of $0.74 beat our estimate by $0.07. Graco’s sales of roughly $555 million came in line with our expectations, though on stronger performance in the industrial and process segments but slower growth in contractor relative to our projections. We are maintaining our $73 fair value estimate as nothing in Graco’s fourth-quarter earnings release materially alters our long-term thesis.

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