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Grainger Increases Full Year 2022 Guidance

Grainger (GWW) said, for full year 2022, the company now expects earnings per share in a range of $29.10 - $29.70, revised from prior guidance range of $27.25 - $28.75. The company also increased 2022 daily sales growth guidance to 15.5% to 16.5%.

Third quarter net earnings attributable to company increased to $426 million or $8.27 per share from $297 million or $5.65 per share, prior year. On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $7.25, for the quarter. Analysts' estimates typically exclude special items.

Sales were $3.9 billion, up 16.9% on a reported and daily basis, and up 20.3% on a daily, constant currency basis, from prior year, driven by strong performance in both the High-Touch Solutions N.A. and Endless Assortment segments. Analysts on average had estimated $3.88 billion in revenue.

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