Posted October 29, 2021

Grainger 3Q sales up 11.7 percent

Grainger reported sales of $3.4 billion for the third quarter 2021, up 11.7 percent compared $3.0 billion in the third quarter of 2020.

Strong performance in both the High-Touch Solutions N.A. and Endless Assortment segments drove the increase.

Daily sales for the quarter increased 11.7 percent compared to the third quarter of 2020 with the same number of selling days.

In the High-Touch Solutions N.A. segment, daily sales were up 12.0 percent versus the prior year third quarter due primarily to a strong recovery in core, non-pandemic product growth, while pandemic product sales remained elevated. In the Endless Assortment segment, daily sales were up 12.7 percent versus the third quarter of 2020. The Endless Assortment revenue growth was solid, considering a very strong third quarter 2020 comparison at Zoro U.S. and a current challenging Japanese economy.

Net earnings of $297 million, or $5.65 per diluted share, compared to earnings of $240 million, or $4.41, in last year's third quarter.

"During the third quarter, I spent significant time with customers. They consistently commended Grainger on our ability to fulfill orders and deliver products faster than others, and they valued our teams' commitment to servicing their business needs," said DG Macpherson, chairman and chief executive officer. "Demand for core products was very strong throughout the quarter, and Grainger gained share and expanded margins in both segments. Despite the current market and supply chain uncertainties, we are confident in our ability to deliver solid performance in the fourth quarter and into 2022."