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It s Not Just Soaring Inflation: Here Are The 4 Main Themes On This Quarter s Earnings Calls
by Tyler Durden
Friday, May 07, 2021 - 03:13 PM
By now everyone - except a very special group of idiots residing at the Marriner Eccles building and their media propaganda lackeys - is aware that inflation in the US is soaring to the point where some such as BofA, are speculating that the US is facing a period of transitory hyperinflation (if BofA is right it would be remarkable, as it would be the first ever case in human history of transitory hyperinflation that does not result in a monetary reset).
WASHINGTON (dpa-AFX) - W.W. Grainger Inc. (GWW) reported that its first-quarter net earnings attributable to the company rose to $238 million or $4.48 per share from $173 million or $3.19 per share
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%)
Grainger Achieves 50th Consecutive Year Of Dividend Increases; Raises Quarterly Dividend By 6%; Authorizes Repurchase Of Additional 5 Million Shares
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CHICAGO, April 28, 2021 /PRNewswire/ W.W. Grainger, Inc. (NYSE: GWW) announced today that its board of directors approved a quarterly cash dividend of $1.62 per share, an increase of 6% from the dividend paid in March 2021. The dividend is payable on June 1, 2021, to shareholders of record on May 10, 2021. Grainger has delivered 50 consecutive years of increased dividends.
In addition, the board authorized the repurchase of up to 5 million shares of the company s outstanding common stock, replacing the company s existing repurchase program. The new repurchase program has no expiration date. Since the program s inception in 1984, Grainger has reduced the number of shares outstanding by more than 50%. As of December 31, 2020, the company had approximately 52.5 million shares of