Grainger Q4 2021 Earnings Report
Key Takeaways
Grainger reported a strong fourth quarter with sales of $3.4 billion, up 14.2% year-over-year, and adjusted EPS of $5.44, a 49% increase. The company's performance was fueled by robust customer demand and successful execution of strategic initiatives.
Sales increased by 14.2% to $3.4 billion, with a 16.9% increase on a daily, constant currency basis.
Gross margin expanded by 240 basis points to 37.3%.
Operating earnings reached $417 million, with an operating margin of 12.4%, up 305 basis points.
EPS increased by 74% to $5.44, and adjusted EPS increased by 49%.
Grainger
Grainger
Forward Guidance
The following 2022 guidance is being provided: Total Company2022 Guidance RangeNet Sales$14.1 - 14.5 billionDaily growth7.5 - 10.5%Gross Profit Margin36.8 - 37.3%Operating Margin12.5 - 13.1%Earnings per Share$23.50 - $25.50Operating Cash Flow$1.1 - 1.3 billionCapEx (cash basis)$275 - 325 millionShare Buyback$600 - 800 millionTax Rate24.0 - 25.0%Segment Operating MarginHigh-Touch Solutions N.A.14.4 - 15.0%Endless Assortment7.5 - 8.2%