Grainger Q1 EPS $9.61 (+36% YoY); raises FY EPS guidance to $34.25-$36.75

W.W. GRAINGER, INC.

2023-Q1 EPS reported $9.61 revenue$4,091,000,000

Sales $4.1B, up 12.2% YoY; daily constant currency growth 14.5%.
Operating earnings $680M (+27.4%); operating margin 16.6% (+200 bps).
Diluted EPS $9.61, up 36% from $7.07; raised FY EPS to $34.25-$36.75 (from $32-$34.50).
Gross margin 39.9% (+200 bps) driven by freight efficiencies and favorable product mix.
Operating cash flow $454M; returned $229M to shareholders via dividends and buybacks.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

W.W. GRAINGER, INC. reported first quarter ended March 31, 2023 results: revenue $4.1 billion, net income $488 million, EPS $9.61.

Period: first quarter ended March 31, 2023
Revenue: $4.1 billion
Net income: $488 million
EPS: $9.61
Result: reported results

Exact text from the filing

FOR THE FIRST QUARTER 2023 Continued strong performance amidst resilient demand environment; Company raises full year 2023 guidance First Quarter Highlights • Delivered sales of $4.1 billion, up 12.2%, or 14.5% on a daily, constant currency basis • Generated operating earnings of $680 million, up 27.4%, with operating margin of 16.6%, up 200 basis points • Achieved

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

W.W. GRAINGER, INC. reported full year 2023 results: EPS $34.25 to $36.75. Guidance raised.

Period: full year 2023
EPS: $34.25 to $36.75
Guidance: raised
Result: guidance update

Exact text from the filing

Total Company (1) Previous 2023 Guidance Range (as of February 2, 2023) Updated 2023 Guidance Range (as of April 27, 2023) Net Sales $16.2 - $16.8 billion $16.2 - $16.8 billion Sales Growth 6.6% - 10.6% 6.6% - 10.6% Daily Sales Growth 7.0% - 11.0% 7.0% - 11.0% Gross Profit Margin 38.1% - 38.3% 39.1% - 39.4% Operating Margin 14.4% - 14.9% 15.2% - 15.7% Diluted Earnings per Share $32.00 - $34.50 $34.25 - $36.75 Operating Cash Flow $1.45 - $1.65 billion $1.6 - $1.8 billion CapEx (cash basis) $450 - $525 million $450 - $525 million Share Buyback $550 - $700 million $650 - $800 million Effective Tax Rate ~25.0% ~24.0% Segment Operating Margin High-Touch Solutions N.A. 16.3% - 16.8% 17.3% - 17.8% Endless Assortment 8.6% - 9.0% 7.9% - 8.3% (1) Guidance provided is on an adjusted basis.

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Source: SEC EDGAR

accession 0000277135-23-000019

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