MINNEAPOLIS—Polyurethane spray equipment manufacturer Graco saw sales in its Industrial Segment rise by 11 percent to $175 million in the second quarter, according to its latest financial report.
The segment, which contains polyurethane spray foam equipment, also reported growth for the first half by 9 percent to $333 million.
Overall sales reached $720 million for the first six months, up 10 percent. Net earnings grew by 55 percent to $140.6 million.
Divisional sales within the Industrial Segment all reported growth for the first half, including a 15 percent jump to $92.4 million in the Asia-Pacific region. Sales in the Americas grew 7.7 percent to $145 million, while EMEA sales saw a 4.6 percent increase to $94 million.
Graco said that sales in all industrial segment applications grew, and the year-to-date operating margin rate for the industrial segment grew by 3 percent compared to 2016. Higher sales volumes, better gross margin rate and lower expenses were partly offset by currency translations, the firm added.