---
schema_version: "secwatch.filing_event.v1"
accession: "0000277135-23-000019"
form_type: "8-K"
ticker: "GWW"
cik: "0000277135"
company_name: "W.W. GRAINGER, INC."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T09:35:54.518156+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000277135-23-000019
- form_type: 8-K
- ticker: GWW
- cik: 0000277135
- company_name: W.W. GRAINGER, INC.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/277135/000027713523000019/0000277135-23-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/277135/000027713523000019/gww-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000277135-23-000019
- JSON: https://secwatch.observer/filing/0000277135-23-000019.json
- Plain text: https://secwatch.observer/filing/0000277135-23-000019.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/277135/000027713523000019/0000277135-23-000019-index.htm
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/277135/000027713523000019/0000277135-23-000019-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.