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Grainger Reports Results For The Second Quarter 2021

Grainger Reports Results For The Second Quarter 2021
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Formerly Grainger China, MyMRO Completes New Fundraising

Sold off from Grainger this past September, the company is now China-owned and gaining momentum. May 13th, 2021 MyMRO Shanghai-based MyMRO formerly Grainger China until Grainger sold off the unit in September 2020 announced Wednesday that it has completed a new round of financing. The company said it has raised several hundred million yuan, or at least $30 million USD, in a B-round of financing led by China investment firm FountainVest Partners. Grainger first announced the Grainger China divestment in June of 2020 in a move aimed at focusing more on key businesses and geographies. It was bought by Zhou Yanhua the former general manager of Grainger China and China-based venture capital firm Sinovation Ventures. The transaction completed Sept. 9 of last year, upon which Grainger China immediately raised another several hundred million yuan in A-round financing, led by Sinovation.

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Grainger Reports Results For The First Quarter 2021

Grainger Reports Results For The First Quarter 2021 Company delivers strong revenue and earnings growth and provides full year guidance as economic trends improve News provided by Share this article 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%)

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Grainger Organic Sales & Profit Growth Continues as Endless Assortment Jumps

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.

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