The 2020 Mid-Year Economic Update_long

Grainger’s Sales Up 7.4%

UK-related charges cause earnings to slide, company says.

Grainger (NYSE: GWW), Chicago, IL, reported third-quarter sales of $2.8 billion, a 7.4 percent increase compared with the year-ago period.

Grainger’s reported operating earnings for the quarter fell 32 percent, to $189 million. Reported earnings contained $139 million in charges related to its Cromwell business in the UK, the company said. Adjusted earnings increased 15 percent to $332 million.

Grainger said its quarterly sales increase was driven by a 7 percentage point increase from volume and 1 percentage point increase in price, partially offset by a 1 percentage point decline from foreign exchange and the impact of hurricanes.

 

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