Grainger Q3 sales up 4.3%
Grainger reported third quarter sales of $4.4 billion, up 4.3%, or 4.0% on a daily, organic constant currency basis.
Gross profit margin was 39.2% in the third quarter, a decline of 10 basis points from the third quarter of 2023.
"From helping customers respond to natural disasters to supporting their safety needs, the team remains sharply focused on providing a flawless experience. As a result, throughout the third quarter, our customer relationships grew and results remained solid amidst a slow, but steady demand market, " said D.G. Macpherson, chairman and CEO. "As we close out 2024, we are confident in our ability to execute well, meet our goals and drive results for all stakeholders."
Third Quarter Highlights
- Delivered sales of $4.4 billion, up 4.3%, or 4.0% on a daily, organic constant currency basis
- Achieved operating margin of 15.6%, down30basis points
- Generated diluted EPS of $9.87, up 4.7%
- Produced $611 million in operating cash flow and returned $328 million to Grainger shareholders through dividends and share repurchases
- Narrowing 2024 total Company earnings guidance ranges, including daily, organic constant currency sales growth of 4.5% to 5.25% and adjusted diluted EPS of $38.65 to $39.35
INDUSTRIAL SUPPLY MAGAZINE
The November/December issue of Industrial Supply magazine features an in-depth cover story about Kimball Midwest. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and Mike Marks, as well as interviews with numerous product and distribution industry experts.
