Grainger sales grew 3 percent in fourth quarter
Grainger reported fourth quarter sales of $2.84 billion, up 3.0 percent from $2.76 billion in the fourth quarter of 2018.
Net earnings of $103 million, or $1.88 per diluted share, compared to $209 million, or $3.68, in the same period last year.
For the full year, total company sales increased 2.5 percent to $11.5 billion compared to $11.2 billion in 2018. On a constant currency basis, sales increased 3 percent driven by volume growth of 2.5 percent and favorable price of 0.5 percent.
Net earnings for the year of $849 million, or $15.32 per diluted share, compared to $782 million, or $13.82, in 2018.
"In 2019, we grew sales, operating earnings and EPS despite challenging and uncertain economic conditions. Our sales growth in the U.S. outperformed the market throughout the year, and our share gain accelerated in the fourth quarter, as our growth initiatives began to take hold," said DG Macpherson, chairman and chief executive officer.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
