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Mar 31, 2024
Grainger Q1 2024 Earnings Report
Grainger's Q1 2024 performance showed strategic focus driving business forward.
Key Takeaways
Grainger reported a 3.5% increase in sales, reaching $4.2 billion, and a diluted EPS of $9.62, up 0.1% compared to Q1 2023. The company reaffirmed its full-year 2024 guidance ranges.
Sales reached $4.2 billion, up 3.5% (4.9% on a daily, organic constant currency basis).
Operating margin was 15.8%, a decrease of 80 basis points.
Diluted EPS increased by $0.01 to $9.62.
Operating cash flow was $661 million, with $360 million returned to shareholders through dividends and share repurchases.
Forward Guidance
The company reaffirmed its full-year 2024 guidance ranges as previously announced on February 2, 2024.
Positive Outlook
- Net Sales: $17.2 - $17.7 billion
- Sales Growth: 4.3% - 7.3%
- Daily, organic, constant currency sales growth: 4.0% - 7.0%
- Gross Profit Margin: 39.1% - 39.4%
- Operating Margin: 15.3% - 15.8%
Challenges Ahead
- Diluted Earnings per Share: $38.00 - $40.50
- Operating Cash Flow: $1.9 - $2.1 billion
- CapEx (cash basis): $0.4 - $0.5 billion
- Share Buyback: $0.9 - $1.1 billion
- Effective Tax Rate: ~24.0%
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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