Grainger posts 17% sales growth for '22, doesn't expect a '23 encore
Grainger reported its 2022 fourth quarter sales of $3.8 billion were a 13% increase over Q4 '21 – or 17.2% on a daily, constant currency basis. For the full year, sales of $15.2 billion increased 16.9%, or 19.3% on a daily, constant currency basis compared to the prior year.
For the fourth quarter of 2022, total company gross profit margin was 39.6%, up 230 basis points compared to 37.3% in the fourth quarter of 2021.
In 2022, the company invested $256 million through capital expenditures.
"Our strong 2022 performance was driven by the team's focused execution against our long-term strategy in a robust demand market," said Chairman and CEO D.G. Macpherson. "Both our High-Touch Solutions and Endless Assortment segments delivered above expectations by remaining committed to our purpose, We Keep the World Working. As we look to 2023, we remain focused on delivering value for our customers and strong results for shareholders and team members."
Grainger is projecting 6.6%–10.6% sales growth for 2023.
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.
