Early Access

10-QPeriod: Q3 FY2024

W.W. GRAINGER, INC. Quarterly Report for Q3 Ended Sep 30, 2024

Filed October 31, 2024For Securities:GWW

Summary

W.W. Grainger, Inc. reported solid financial results for the third quarter and the first nine months of 2024, demonstrating continued revenue growth and stable profitability. For the third quarter, net sales increased by 4.3% year-over-year to $4.39 billion, with diluted earnings per share (EPS) rising 4.7% to $9.87. This growth was driven by both the High-Touch Solutions N.A. and Endless Assortment segments, with High-Touch Solutions N.A. showing a 3.3% increase in net sales and Endless Assortment posting a robust 8.1% growth. For the first nine months of the year, net sales grew 3.6% to $12.94 billion, and diluted EPS increased by 2.4% to $29.00. While gross profit margins saw a slight decrease year-over-year for both periods, operating earnings remained strong, indicating effective cost management. The company also generated substantial cash flow from operations, increasing to $1.68 billion for the first nine months of 2024, up from $1.43 billion in the prior year. This strong operational performance and cash generation, coupled with a healthy liquidity position, supports the company's ability to continue investing in its business and returning capital to shareholders through dividends and share repurchases.

Financial Highlights

50 data points
Beta

Revenue

$4.39B

0.4% Gross Margin

Net Income

$486.00M

0.1% Net Margin

EPS (Diluted)

$9.87

Total Assets

$9.11B

Cash & Equivalents

$1.45B

Free Cash Flow

$523.00M

Financial Statements
Beta
Revenue$4.39B
Cost of Revenue$2.67B
Gross Profit$1.72B
SG&A Expenses$1.03B
Operating Income$686.00M
Net Income$486.00M
EPS (Basic)$9.90
EPS (Diluted)$9.87
Shares Outstanding (Basic)48.80M
Shares Outstanding (Diluted)48.90M

Key Highlights

  • 1Net sales for the third quarter of 2024 increased by 4.3% to $4.39 billion compared to the same period in 2023.
  • 2Diluted earnings per share (EPS) for the third quarter rose by 4.7% to $9.87.
  • 3For the first nine months of 2024, net sales grew 3.6% to $12.94 billion, and diluted EPS increased 2.4% to $29.00.
  • 4The High-Touch Solutions N.A. segment reported a 3.3% increase in net sales for the third quarter, while the Endless Assortment segment saw an 8.1% increase.
  • 5Cash flow from operating activities for the first nine months of 2024 was $1.68 billion, an increase from $1.43 billion in the prior year.
  • 6The company repurchased 233,609 shares of its common stock during the third quarter of 2024.
  • 7W.W. Grainger, Inc. maintains a strong liquidity position with approximately $2.7 billion in available liquidity as of September 30, 2024.

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