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Dec 31, 2024
Grainger Q4 2024 Earnings Report
Grainger reported solid Q4 2024 results driven by focused execution and issues 2025 guidance.
Key Takeaways
Grainger's Q4 2024 sales reached $4.2 billion, a 5.9% increase, with a 15.0% operating margin. Diluted EPS rose to $9.71, up 23.1%. The company issued 2025 guidance, projecting 4.0% - 6.5% daily, constant currency sales growth.
Sales increased by 5.9% to $4.2 billion in Q4 2024.
Operating margin reached 15.0%, a 110 basis point increase.
Diluted EPS grew by 23.1% to $9.71.
The company returned $1.6 billion to shareholders through dividends and share repurchases in 2024.
Forward Guidance
Grainger provided the following outlook for 2025: Net Sales $17.6 - $18.1 billion, Sales growth 2.7% - 5.2%, Daily, constant currency sales growth 4.0% - 6.5%, Gross Profit Margin 39.1% - 39.4%, Operating Margin 15.1% - 15.5%, Diluted Earnings per Share $39.00 - $41.50.
Positive Outlook
- Net Sales: $17.6 - $18.1 billion
- Sales growth: 2.7% - 5.2%
- Daily, constant currency sales growth: 4.0% - 6.5%
- Gross Profit Margin: 39.1% - 39.4%
- Operating Margin: 15.1% - 15.5%
Challenges Ahead
- Diluted Earnings per Share: $39.00 - $41.50
- Operating Cash Flow: $2.05 - $2.25 billion
- CapEx (cash basis): $0.45 - $0.55 billion
- Share Buyback: $1.15 - $1.25 billion
- Effective Tax Rate: ~23.8%
Historical Earnings Impact
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Avg. Return Before/After Earnings
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