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Last $239.33 USD
Change Today -2.54 / -1.05%
Volume 1.2M
GWW On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

ww grainger inc (GWW) Key Developments

Grainger Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015

Grainger reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported sales of $2.4 billion increased 2% versus $2.4 billion in the first quarter of 2014. There were 63 selling days in the 2015 first quarter, the same number as the 2014 first quarter. Results for the quarter included a 1 percentage point increase from acquisitions and a 3 percentage points reduction from foreign exchange. Net earnings to the company declined 3% to $211 million versus $217 million in 2014. Earnings per basic and diluted share was $3.07 against $3.07 a year ago. Operating earnings was $351 million declined 1% versus the 2014 quarter of $354.339 million. This decrease was driven by lower gross profit margins in Canada and the other businesses as well as negative expense leverage in Canada. Operating cash flow was $156 million versus $168 million in the 2014 first quarter. Capital expenditures were $99 million versus $66 million in the first quarter of 2014. Earnings before income taxes was $347.639 million against $351.613 million a year ago. Net earnings available to common shareholders was $208.802 million against $213.734 million a year ago.

Grainger Updates Earnings Guidance for the Full Year of 2015

Grainger updated earnings guidance for the full year of 2015. For the year, the company updated its full year guidance to reflect its plans announced earlier to buy back an incremental $1 billion of stock in 2015, beyond the $400 million previously announced. The incremental share repurchases in 2015 are expected to be accretive to 2015 earnings in the range of $0.08 to $0.12 per share. The company now expects 1 to 4% sales growth and earnings per share of $12.25 to $12.95, compared to previous guidance of 3 to 7% sales growth and earnings per share of $12.60 to $13.60.

W.W. Grainger Mulls Acquisitions

W.W. Grainger, Inc. (NYSE:GWW) intends to make acquisitions. The company is committed to operating with a debt to EBITDA ratio that is in the 1.0-1.5x range. Chairman, President and Chief Executive Officer, Jim Ryan said: "The addition of this level of permanent debt signals an important change in our capital structure and strikes the right balance between rewarding shareholders, making our capital structure more efficient and preserving the company's ability to pursue both organic growth and acquisition opportunities."

Grainger Reports Sales Results for the Month of February 2015

Grainger reported sales results for the month of February 2015. Sales increased 2% versus February 2014. Results for the month included 1 percentage point from acquisitions and a 3 percentage point decline from unfavorable foreign exchange. Excluding acquisitions and foreign exchange, organic sales increased 4% driven by 4 percentage points from volume and a 2 percentage point benefit from favorable comparability to the business disruptions in February 2014 due to extreme weather. This increase was partially offset by a 1 percentage point decline in price and a 1 percentage point decline from winter storms in February 2015. The month had 20 selling days, the same as in February 2014. The 2015 first quarter will have 63 selling days, the same number as the 2014 first quarter.

W.W. Grainger, Inc. - Sales/ Trading Statement Call

W.W. Grainger, Inc. - Sales/ Trading Statement Call

 

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Industry Analysis

GWW

Industry Average

Valuation GWW Industry Range
Price/Earnings 21.2x
Price/Sales 1.6x
Price/Book 5.0x
Price/Cash Flow 20.0x
TEV/Sales 1.5x
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