US Market News
1月前
GRAINGER'S SHAREHOLDERS ELECT 12 DIRECTORS AND OTHER ANNUAL MEETING HIGHLIGHTSApril 29, 2026 11:45 AM
PR Newswire (US)
CHICAGO, April 29, 2026 /PRNewswire/ -- W.W. Grainger, Inc. (NYSE: GWW) held its annual meeting of shareholders virtually today. Chairman and CEO D.G. Macpherson provided a company update, which included 2025 financial and operational highlights.Shareholders elected the following 12 directors:
Rodney C. AdkinsNeil S. NovichGeorge S. DavisBeatriz R. PerezKatherine D. JasponE. Scott SantiChristopher J. KleinSusan Slavik WilliamsD.G. Macpherson Lucas E. WatsonCindy J. Miller Steven A. WhiteAdditionally, the shareholders voted in favor of two proposals: (i) to ratify the appointment of Ernst & Young LLP as the company's independent auditor for the 2026 fiscal year, and (ii) to approve the advisory say-on-pay resolution on executive compensation.About Grainger
W.W. Grainger, Inc., is a leading broad line distributor with operations primarily in North America and Japan. At Grainger, We Keep the World Working® by serving more than 4.6 million customers worldwide with maintenance, repair and operating (MRO) products and value-added solutions delivered through innovative technology and deep customer expertise. Known for its commitment to service and purpose-driven culture, the Company reported 2025 revenue of $17.9 billion.For more information, visit?www.grainger.com.
View original content:https://www.prnewswire.com/news-releases/graingers-shareholders-elect-12-directors-and-other-annual-meeting-highlights-302757333.htmlSOURCE W.W. Grainger
Original: GRAINGER'S SHAREHOLDERS ELECT 12 DIRECTORS AND OTHER ANNUAL MEETING HIGHLIGHTS
US Market News
1月前
GRAINGER INCREASES QUARTERLY DIVIDEND BY 10%April 29, 2026 11:30 AM
PR Newswire (US)
CHICAGO, April 29, 2026 /PRNewswire/ -- W.W. Grainger, Inc. (NYSE: GWW) announced today that its board of directors approved a quarterly cash dividend of $2.49 per share, an increase of 10% from the most recent company dividend. The dividend is payable on June 1, 2026, to shareholders of record on May 11, 2026."In line with Grainger's long-standing commitment to our shareholders, we're pleased to continue our track record of delivering increased annual dividends. This year marks the 55th consecutive year of planned increases and further reinforces our strength in returning excess cash to shareholders and investing in the business to bring value to our customers," said D.G. Macpherson, Grainger Chairman and CEO.About Grainger
W.W. Grainger, Inc., is a leading broad line distributor with operations primarily in North America and Japan. At Grainger, We Keep the World Working® by serving more than 4.6 million customers worldwide with maintenance, repair and operating (MRO) products and value-added solutions delivered through innovative technology and deep customer expertise. Known for its commitment to service and purpose-driven culture, the Company reported 2025 revenue of $17.9 billion. For more information, visit www.grainger.com.
View original content:https://www.prnewswire.com/news-releases/grainger-increases-quarterly-dividend-by-10-302757337.htmlSOURCE W.W. Grainger, Inc.
Original: GRAINGER INCREASES QUARTERLY DIVIDEND BY 10%
US Market News
2月前
FORTUNE MEDIA AND GREAT PLACE TO WORK NAME GRAINGER TO '100 BEST COMPANIES TO WORK FOR' IN 2026April 1, 2026 4:30 PM
PR Newswire (US)
CHICAGO, April 1, 2026 /PRNewswire/ -- Grainger (NYSE: GWW), a leading broad line distributor of maintenance, repair and operating (MRO) products and services, has been recognized as one of the Fortune 100 Best Companies to Work For® in 2026 by Great Place To Work® and Fortune Media.
This is Grainger's fourth time in recent years being named to this prestigious list. Earning a spot means that Grainger is one of the best companies to work for in the country."This recognition is a reflection of our exceptional team and purpose-driven culture," said D.G. Macpherson, Chairman and CEO of Grainger. "At Grainger, our team shows up every day to support one another, do meaningful work and make a difference for our customers. I'm grateful for the intention and pride they bring to living our purpose, We Keep The World Working®."The 100 Best Companies to Work For list honors companies that build a high-trust workplace environment, measured through Great Place To Work's proprietary survey platform. Confidential feedback from more than 1.3 million employees in the U.S. is matched against HR data from participating companies. Only companies with consistently high survey responses across the 60 statements that comprise the Trust Index™ Survey earn placement on this exclusive list.The Fortune 100 Best Companies to Work For list is more than an award. It's data-backed proof of the health and vitality of an organization. Companies that make the list have consistently outperformed the stock market over 28 years of cumulative returns.Eligible companies must be Great Place to Work Certified™ and have 1,000 or more U.S. employees. Winners are assessed on their ability to create a great employee experience that cuts across job level, business unit, demographic group, or geographic location."Trust in the organization is a leading indicator of business performance," says Michael C. Bush, CEO of Great Place To Work. "When employees trust their leaders, they are more willing to give extra effort, embrace innovation like new AI tools, and deliver a better experience to customers."The result is the Great Place To Work Effect, where companies can see how leadership behaviors drive measurable changes in their financial performance."The companies on this list know that trust is a competitive edge — one that can't be stolen or mimicked by competitors or replaced by machines," Bush says. "In the face of market uncertainty, the data proves that high-trust workplaces see faster growth and higher returns." "Fortune is proud to collaborate with Great Place To Work for the 29th year to recognize the 100 Best Companies to Work For. Amid a fast-evolving workplace landscape, employees said these organizations continue to set the standard for cultures built on trust, innovation, and care for their people. Congratulations to all who earned a place on this year's list," says Alyson Shontell, Fortune editor in chief and chief content officer.About Grainger
W.W. Grainger, Inc., is a leading broad line distributor with operations primarily in North America and Japan. At Grainger, We Keep the World Working® by serving more than 4.6 million customers worldwide with maintenance, repair and operating (MRO) products and value-added solutions delivered through innovative technology and deep customer expertise. Known for its commitment to service and purpose-driven culture, the Company reported 2025 revenue of $17.9 billion. For more information, visit www.grainger.com. About the Fortune 100 Best Companies to Work For
Great Place To Work selected the 100 Best list by gathering and analyzing more than 1.3 million confidential survey responses in 2025, representing the experiences of more than 7.3 million U.S. employees. Of those, nearly 640,000 responses were received from employees at eligible companies, and this list is based on that feedback. Organizations are assessed on their efforts to create generous, supportive, high-performance work experiences for every employee in the organization. Companies must be Great Place To Work Certified™ with 1,000 or more employees in the U.S. and cannot be a government agency. Read the full methodology.To be considered, all companies use the Great Place to Work Trust Index Survey. To get on this list next year, start here.About Great Place To Work
As the global authority on workplace culture, Great Place To Work, a UKG company, brings 30 years of groundbreaking research and data to help every place become a great place to work for all. Its proprietary platform and Great Place To Work Model help companies evaluate the experience of every employee, with exemplary workplaces becoming Great Place To Work Certified and receiving recognition on a coveted Best Workplaces list.Follow Great Place To Work on LinkedIn, X, and Instagram, and sign up for Great Place To Work LinkedIn newsletter, Culture Edge, to get the latest research on what drives business success. About Fortune Media
Fortune is a global multi-platform media company built on a legacy of trusted, award-winning reporting and information for those who want to make business better. Independently owned, Fortune tells the stories of the world's biggest companies and their leaders, as well as a new generation of innovators who are moving business forward. Digitally and in print, Fortune measures corporate performance through rigorous benchmarks and holds companies accountable in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500, Most Powerful Women, and World's Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum, Fortune Brainstorm Tech, and Fortune Most Powerful Women. For more information, visit fortune.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/fortune-media-and-great-place-to-work-name-grainger-to-100-best-companies-to-work-for-in-2026-302731974.htmlSOURCE W.W. Grainger, Inc.
Original: FORTUNE MEDIA AND GREAT PLACE TO WORK NAME GRAINGER TO '100 BEST COMPANIES TO WORK FOR' IN 2026
US Market News
3月前
/C O R R E C T I O N -- W.W. Grainger, Inc./March 27, 2026 5:00 PM
PR Newswire (US)
In the news release, GRAINGER SHOW BRINGS TOGETHER MORE THAN 10,000 MRO LEADERS TO HELP CUSTOMERS SOLVE OPERATIONAL CHALLENGES AND EMBRACE INNOVATIONS SHAPING INDUSTRY'S FUTURE, issued 27-Mar-2026 by W.W. Grainger, Inc. over PR Newswire, we are advised by the company that the date of the Partners in Performance awards referenced should be 2025, not 2026 as originally issued inadvertently. The complete, corrected release follows:
GRAINGER SHOW BRINGS TOGETHER MORE THAN 10,000 MRO LEADERS TO HELP CUSTOMERS SOLVE OPERATIONAL CHALLENGES AND EMBRACE INNOVATIONS SHAPING INDUSTRY'S FUTURE
CHICAGO, March 27, 2026 /PRNewswire/ -- Grainger (NYSE: GWW), a leading broad line distributor of maintenance, repair and operating (MRO) products and services, brought together more than 10,000 customers, suppliers and industry leaders at the Grainger Show in Orlando, Florida, on March 15-17. The biennial event is one of the largest MRO gatherings in the world and focuses on the latest trends, advancements and challenges shaping the industry. Grainger and its partners help customers simplify the complexity of MRO – providing practical solutions and strategic insights that save time, reduce costs and help keep operations running safely and efficiently.
At the Grainger Show, customers participated in three days of seminars and roundtable discussions designed to help them reduce downtime, gain better control of indirect inventory and strengthen workplace safety – challenges that directly impact productivity and cost in day-to-day operations. Attendees also had opportunities to network with industry peers, connect directly with suppliers and explore hands-on demonstrations showcasing cutting-edge innovations for operations, inventory, procurement and safety."The Grainger Show is designed to spark new ideas, showcase our solutions and equip customers with practical strategies they can put to work right away to run safer, more resilient operations," said Paige Robbins, Senior Vice President and President of the Grainger Business Unit. "Whether it's strengthening supply chains, ensuring workforce readiness or leveraging smarter tools and AI-driven insights, our focus is simple: helping customers stay ahead of today's challenges and what's next by being a partner they can count on."During the event, Grainger also announced the recipients of its "Partners in Performance" awards, which is a distinction reserved for top-performing suppliers that consistently demonstrate excellence across operations, commercial performance, product content and partnership. Klein Tools received top honors as "Supplier of the Year," while newcomer Essity was named "New Supplier of the Year."These partners play a critical role in helping Grainger deliver reliable products, fast fulfillment, and consistent service so customers can count on having what they need when they need it.The 2025 Partners in Performance award recipients include:Overall Supplier of the Year: Klein ToolsNew Supplier of the Year: EssitySustainability Supplier: Schneider ElectricExcellence in Partnership (Individual): Teresa Wu, 3MSourcing Partner: Husky Rack & WireContact of the Year (Individual): Brandon Sonich, Elkay Inc.Carrier/Transportation Partners: Southeastern Freight Lines; Continental Courier Inc.Direct Suppliers: MCR Safety Group; Interplast; 3M; Mechanix Wear; Klever; Nu-Calgon; Knipex Tools; Vikan; Fein Power Tools; Ghent; Agsco Corporation; Zipwall; The Jel Sert CompanyIndirect Suppliers: WTW; Quad Graphics"Fewer than one percent of our more than 5,000 suppliers are selected annually for this distinction," said Barry Greenhouse, Senior Vice President of Merchandising and Supplier Management at Grainger. "These partners exemplify the innovation, reliability and customer-focused approach that define our most valued relationships, allowing us both to grow together. Their commitment to quality and continuous improvement has directly contributed to our ability to deliver the products and services our customers rely upon every day."The Partners in Performance program underscores Grainger's commitment to fostering collaborative partnerships that drive innovation and value throughout the MRO industry. By celebrating suppliers who go above and beyond to support customer success, Grainger reinforces its purpose to keep the world working.From its world-class supply chain to on-the-ground expertise, Grainger continues to invest in the capabilities that help customers solve any MRO challenge with confidence.About Grainger
W.W. Grainger, Inc. is a leading broad line distributor with operations primarily in North America and Japan. At Grainger, We Keep the World Working® by serving more than 4.6 million customers worldwide with maintenance, repair and operating (MRO) products and value-added solutions delivered through innovative technology and deep customer expertise. Known for its commitment to service and purpose-driven culture, the Company reported 2025 revenue of $17.9 billion. For more information, visit www.grainger.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/grainger-show-brings-together-more-than-10-000-mro-leaders-to-help-customers-solve-operational-challenges-and-embrace-innovations-shaping-industrys-future-302726957.htmlSOURCE W.W. Grainger, Inc.
Original: /C O R R E C T I O N -- W.W. Grainger, Inc./
US Market News
3月前
GRAINGER SHOW BRINGS TOGETHER MORE THAN 10,000 MRO LEADERS TO HELP CUSTOMERS SOLVE OPERATIONAL CHALLENGES AND EMBRACE INNOVATIONS SHAPING INDUSTRY'S FUTUREMarch 27, 2026 10:00 AM
PR Newswire (US)
CHICAGO, March 27, 2026 /PRNewswire/ -- Grainger (NYSE: GWW), a leading broad line distributor of maintenance, repair and operating (MRO) products and services, brought together more than 10,000 customers, suppliers and industry leaders at the Grainger Show in Orlando, Florida, on March 15-17. The biennial event is one of the largest MRO gatherings in the world and focuses on the latest trends, advancements and challenges shaping the industry. Grainger and its partners help customers simplify the complexity of MRO – providing practical solutions and strategic insights that save time, reduce costs and help keep operations running safely and efficiently.
At the Grainger Show, customers participated in three days of seminars and roundtable discussions designed to help them reduce downtime, gain better control of indirect inventory and strengthen workplace safety – challenges that directly impact productivity and cost in day-to-day operations. Attendees also had opportunities to network with industry peers, connect directly with suppliers and explore hands-on demonstrations showcasing cutting-edge innovations for operations, inventory, procurement and safety."The Grainger Show is designed to spark new ideas, showcase our solutions and equip customers with practical strategies they can put to work right away to run safer, more resilient operations," said Paige Robbins, Senior Vice President and President of the Grainger Business Unit. "Whether it's strengthening supply chains, ensuring workforce readiness or leveraging smarter tools and AI-driven insights, our focus is simple: helping customers stay ahead of today's challenges and what's next by being a partner they can count on."During the event, Grainger also announced the recipients of its "Partners in Performance" awards, which is a distinction reserved for top-performing suppliers that consistently demonstrate excellence across operations, commercial performance, product content and partnership. Klein Tools received top honors as "Supplier of the Year," while newcomer Essity was named "New Supplier of the Year."These partners play a critical role in helping Grainger deliver reliable products, fast fulfillment, and consistent service so customers can count on having what they need when they need it.The 2026 Partners in Performance award recipients include:Overall Supplier of the Year: Klein ToolsNew Supplier of the Year: EssitySustainability Supplier: Schneider ElectricExcellence in Partnership (Individual): Teresa Wu, 3MSourcing Partner: Husky Rack & WireContact of the Year (Individual): Brandon Sonich, Elkay Inc.Carrier/Transportation Partners: Southeastern Freight Lines; Continental Courier Inc.Direct Suppliers: MCR Safety Group; Interplast; 3M; Mechanix Wear; Klever; Nu-Calgon; Knipex Tools; Vikan; Fein Power Tools; Ghent; Agsco Corporation; Zipwall; The Jel Sert CompanyIndirect Suppliers: WTW; Quad Graphics"Fewer than one percent of our more than 5,000 suppliers are selected annually for this distinction," said Barry Greenhouse, Senior Vice President of Merchandising and Supplier Management at Grainger. "These partners exemplify the innovation, reliability and customer-focused approach that define our most valued relationships, allowing us both to grow together. Their commitment to quality and continuous improvement has directly contributed to our ability to deliver the products and services our customers rely upon every day."The Partners in Performance program underscores Grainger's commitment to fostering collaborative partnerships that drive innovation and value throughout the MRO industry. By celebrating suppliers who go above and beyond to support customer success, Grainger reinforces its purpose to keep the world working.From its world-class supply chain to on-the-ground expertise, Grainger continues to invest in the capabilities that help customers solve any MRO challenge with confidence.About Grainger
W.W. Grainger, Inc. is a leading broad line distributor with operations primarily in North America and Japan. At Grainger, We Keep the World Working® by serving more than 4.6 million customers worldwide with maintenance, repair and operating (MRO) products and value-added solutions delivered through innovative technology and deep customer expertise. Known for its commitment to service and purpose-driven culture, the Company reported 2025 revenue of $17.9 billion. For more information, visit www.grainger.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/grainger-show-brings-together-more-than-10-000-mro-leaders-to-help-customers-solve-operational-challenges-and-embrace-innovations-shaping-industrys-future-302726957.htmlSOURCE W.W. Grainger, Inc.
Original: GRAINGER SHOW BRINGS TOGETHER MORE THAN 10,000 MRO LEADERS TO HELP CUSTOMERS SOLVE OPERATIONAL CHALLENGES AND EMBRACE INNOVATIONS SHAPING INDUSTRY'S FUTURE
US Market News
3月前
ETHISPHERE NAMES GRAINGER AS ONE OF THE 2026 WORLD'S MOST ETHICAL COMPANIES®March 18, 2026 9:15 AM
PR Newswire (US)
20th annual recognition honors organizations committed to business integrity through robust ethics, compliance, and governance programsLAKE FOREST, Ill., March 18, 2026 /PRNewswire/ -- Grainger?(NYSE: GWW), a leading broad line distributor of maintenance, repair and operating (MRO) products serving businesses and institutions, has been recognized as one of the 2026 World's Most Ethical Companies® by Ethisphere, a global leader in defining and advancing the standards of ethical business practices.
This is Grainger's second consecutive year being recognized. In 2026, 138 honorees were recognized, spanning 17 countries and 40 industries. "At Grainger, doing the right thing is foundational to how we operate and the principles that guide us every day," said Nic Eichenseer, Vice President and Chief Ethics and Compliance Officer at Grainger. "It's how we've earned trust and built lasting relationships with our customers, partners and communities for nearly a century, and we're honored to have this team commitment recognized." "Congratulations to Grainger for achieving recognition as one of the World's Most Ethical Companies®. As we mark the 20th class of honorees, this group continues to raise the bar for business integrity by embedding ethics into everyday decision-making and long-term strategy. Companies with strong ethics, compliance, and governance programs are built for better long-term performance," said Erica Salmon Byrne, Ethisphere's Chief Strategy Officer and Executive Chair. Methodology & Scoring
The World's Most Ethical Companies assessment is grounded in Ethisphere's proprietary Ethics Quotient®, which requires companies to provide 240+ documented proof points on practices that support robust ethics and compliance, including: corporate governance; program structure & resourcing; written standards; training, awareness, & communication; risk assessment & auditing; investigations, enforcement, discipline & incentives; measurement of ethical culture; third-party risk management, and environmental & social impact. That data undergoes further qualitative analysis by our panel of experts who spend thousands of hours vetting and evaluating each year's group of applicants. This process serves as an operating framework to capture and codify best-in-class ethics and compliance practices from organizations across industries and from around the world. Honorees
To view the full list of this year's honorees, please visit the World's Most Ethical Companies website: https://worldsmostethicalcompanies.com/honorees. About Grainger
W.W. Grainger, Inc., is a leading broad line distributor with operations primarily in North America and Japan. At Grainger, We Keep the World Working® by serving more than 4.6 million customers worldwide with maintenance, repair and operating (MRO) products and value-added solutions delivered through innovative technology and deep customer expertise. Known for its commitment to service and purpose-driven culture, the Company reported 2025 revenue of $17.9 billion. For more information, visit?www.grainger.com. About Ethisphere
Ethisphere is the global leader in defining and advancing the standards of ethical business practices that strengthen corporate brands, build trust in the marketplace, and deliver business success. Companies turn ethics, compliance, and culture into a business advantage by leveraging Ethisphere's data-driven program & culture assessments featuring the latest guidance and the practices of hundreds of global organizations across the 8 pillars of an ethical culture, and 240+ ethics, compliance, social, and governance data points delivered through a proprietary software platform. Ethisphere also honors superior integrity programs through World's Most Ethical Companies® recognition, brings together a community of industry experts with the Business Ethics Leadership Alliance (BELA), and advances ethical business practices through the Global Ethics Summit, Ethisphere Magazine, and the Ethicast podcast. For more information, visit https://ethisphere.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/ethisphere-names-grainger-as-one-of-the-2026-worlds-most-ethical-companies-302714692.htmlSOURCE W.W. Grainger, Inc.
Original: ETHISPHERE NAMES GRAINGER AS ONE OF THE 2026 WORLD'S MOST ETHICAL COMPANIES®
US Market News
4月前
TWELVE DIRECTORS SLATED FOR GRAINGER'S BOARD TO BE VOTED ON AT THE COMPANY'S ANNUAL MEETING ON APRIL 29, 2026February 18, 2026 12:27 PM
PR Newswire (US)
CHICAGO, Feb. 18, 2026 /PRNewswire/ -- Grainger (NYSE: GWW) today announced that the Board of Directors has selected a slate of nominees to serve for the 2026-2027 period. The 12 candidates, all current Board members, to be voted on at the 2026 Annual Meeting of Shareholders are:Rodney C. Adkins
George S. Davis
Katherine D. Jaspon
Christopher J. Klein
D.G. Macpherson
Cindy J. Miller
Neil S. Novich
Beatriz R. Perez
E. Scott Santi
Susan A. Slavik Williams
Lucas E. Watson
Steven A. White"Grainger's Board consists of a broad group of esteemed leaders who bring a range of perspectives and unified commitment to creating sustainable, long-term value for our stakeholders," said D.G. Macpherson, Grainger Chairman and CEO. "We are fortunate to have such a dedicated Board who champions our culture and stewards our purpose to ensure We Keep The World Working®."About Grainger
W.W. Grainger, Inc., is a leading broad line distributor with operations primarily in North America and Japan. At Grainger, We Keep The World Working® by serving more than 4.6 million customers worldwide with maintenance, repair and operating (MRO) products and value-added solutions delivered through innovative technology and deep customer expertise. Known for its commitment to service and purpose-driven culture, the Company reported 2025 revenue of $17.9 billion. For more information, visit www.grainger.com.
View original content:https://www.prnewswire.com/news-releases/twelve-directors-slated-for-graingers-board-to-be-voted-on-at-the-companys-annual-meeting-on-april-29-2026-302691825.htmlSOURCE W.W. Grainger, Inc.
Original: TWELVE DIRECTORS SLATED FOR GRAINGER'S BOARD TO BE VOTED ON AT THE COMPANY'S ANNUAL MEETING ON APRIL 29, 2026
US Market News
4月前
GRAINGER DECLARES QUARTERLY DIVIDENDJanuary 28, 2026 6:00 PM
PR Newswire (US)
CHICAGO, Jan. 28, 2026 /PRNewswire/ -- W.W. Grainger, Inc. (NYSE: GWW) today announced its board of directors has approved a quarterly cash dividend of $2.26 per share. The dividend is payable on March 1, 2026, to shareholders of record on February 9, 2026. This dividend reflects Grainger's ongoing commitment to delivering long-term value to shareholders and maintaining a disciplined capital allocation strategy.About Grainger
W.W. Grainger, Inc., is a leading broad line distributor with operations primarily in North America and Japan. At Grainger, We Keep the World Working® by serving more than 4.6 million customers worldwide with maintenance, repair and operating (MRO) products and value-added solutions delivered through innovative technology and deep customer expertise. Known for its commitment to service and purpose-driven culture, the Company reported 2024 revenue of $17.2 billion. For more information, visit www.grainger.com.
View original content:https://www.prnewswire.com/news-releases/grainger-declares-quarterly-dividend-302671841.htmlSOURCE W.W. Grainger, Inc.
Original: GRAINGER DECLARES QUARTERLY DIVIDEND
MiamiGent
14年前
GWW WW Grainger 1Q Net Jumps 19% On Volumes, Acquisitions
PROVIDED BY Dow Jones & Company, Inc. - 8:41 AM 04/17/2012
DOW JONES NEWSWIRES
W.W. Grainger Inc.'s (GWW) first-quarter earnings jumped 19%, driven by stronger volume and a boost from the industrial-goods supplier's acquisitions.
"Our record performance in the quarter is further evidence that we are realizing the benefits or our growth initiatives," said Chief Executive Jim Ryan, citing the company's product line, sales force, online sales and international expansion.
For the current year, the company raised its guidance to earnings between $ 10.40 and $10.80 a share, from its January projection between $9.90 to $10.65. The company also said its sales growth would be on the higher end of its previously projected 10% to 14% range.
Grainger, which offers goods ranging from lighting to janitorial products, has posted double-digit earnings growth in recent quarters, amid demand from businesses and institutions trying to consolidate suppliers. The company, which is sometimes seen as a bellwether for the national economy because of the breadth of its offerings, has recently seen its stock soar as investors see Grainger benefiting from the surprise resurgence of U.S. manufacturing.
Grainger has also expanded its global footprint through acquisitions, most recently buying Brazilian industrial supplies distributor AnFreixo S.A. But the company's international expansion has experienced some bumps along the way; in late February, Grainger said it was investigating whether employees of its Chinese subsidiary had bribed foreign officials, a violation of U.S. law.
Grainger reported a profit of $187.5 million, or $2.57 a share, up from $157.9 million, or $2.18 a share, a year earlier. Revenue jumped 16% to $2.19 billion.
Analysts polled by Thomson Reuters recently projected earnings of $2.52 on revenue of $2.19 billion.
Gross margin rose to 44.4% from 44.1%.
Sales in the U.S., which account for the bulk of total revenue, rose 11%. In Canada, sales grew 13%, or 14% in local currency. Sales from other businesses segment, including the recently acquired Fabory Group, a European fastener distributor, jumped 104%. Excluding Fabory, sales for the segment grew 33%, on a boost from growth in Japan and Mexico.
Shares were down $1.82 to $213.77 in premarket trading. The stock has surged 113% in the past six months.
-By Kristin Jones; Dow Jones Newswires
(END) Dow Jones Newswires
04-17-12 0841ET