Grainger Reports Results For The First Quarter 2021
Company delivers strong revenue and earnings growth and provides full year guidance as economic trends improve
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First Quarter Financial Highlights
Delivered sales of $3.1 billion, up 2.8%, and up 5.9% on an organic, daily, constant currency basis compared to the first quarter 2020 (excluding divestitures and foreign exchange)
Expanded reported and adjusted operating margins by 630 and 20 basis points, respectively
Generated $294 million in operating cash flow and returned $256 million to shareholders through dividends and share repurchases
Provides full year guidance: Total company daily revenue growth of 8.5-11.0% and earnings per share of $19.00-20.50 (growth of 17.5% to 26.5%)
MRO products giant Grainger No. 1 on
Industrial Distribution s Big 50 List reported its 2021 first quarter financial results on Friday, showing that the industrial distribution sector s biggest market mover saw continued solid year-over-year gains in both sales and profit margins amid economic recovery.
Lake Forest, IL-based Grainger posted total Q1 sales of $3.08 billion, up 2.7 percent year-over-year, with organic daily sales up 5.9 percent. That compares with Q4 2020 sales of $2.94 billion that were up 3.3 percent year-over-year with organic sales up 5.6 percent. Organic sales exclude Grainger s recent divestments of its Fabory (the Netherlands) and Grainger China businesses.
During Q1, year-over-year daily sales growth improved by 2.2 percent in January, 6.4 percent in February and 8.0 percent in March.