The 2020 Mid-Year Economic Update_long

Day: July 16, 2007

Grainger Sales Up 8% in 2Q

Grainger, Chicago, IL, reported sales of $1.6 billion for the second quarter ended June 30, 2007, up 8% versus the same period a year ago. Profit was up 12%.
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For the six months ended June 30, 2007, sales were $3.1 billion, up 8%, and profit up 15%.
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U.S., Mexico
Sales in this segment, which includes branch-based businesses in the U.S., Mexico and China, increased 8% in the second quarter. Of the 8% growth, an estimated 5 percentage points came from the company's two growth initiatives in the U.S., market expansion and product line expansion.

Sales growth was reduced by 1 percentage point due to the continued wind-down of low margin contracts with integrated-supply customers as the company exits the remaining contracts throughout ...

Eaton Sales Increase 4% in 2Q

Diversified industrial manufacturer Eaton Corporation, Cleveland, OH, reported sales of $3.25 billion in second quarter 2007, up 4% over the same period a year ago. Profit was $246 million, a decrease of 3%.

End markets were reported to have declined by 4%, due principally to the anticipated decline in the NAFTA heavy-duty truck market.

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The manufacturer reported slightly stronger growth in the electrical markets, offset by weaker-than-anticipated conditions in the North American hydraulics markets.
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Eaton has closed seven acquisitions in the first half of the year, with the majority of acquisition spending in aerospace and electrical power quality.
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Business Segment Results
Second quarter sales for the Electrical ...