05:11 PM EDT, 04/24/2024 (MT Newswires) -- Graco ( GGG ) reported Q1 adjusted earnings late Wednesday of $0.65 per diluted share, down from $0.74 a year earlier.

Analysts polled by Capital IQ expected $0.74.

Net sales for the quarter that ended March 29 were $492.2 million, down from $529.6 million a year earlier.

Analysts surveyed by Capital IQ expected $534.3 million.

"We are reaffirming our full-year revenue guidance of low single-digit growth on an organic, constant currency basis," Chief Executive Mark Sheahan said in a company statement.

Shares of the company were down 7.3% in after-hours activity.

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