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May 3, 2023

Grainger has strong first quarter

Grainger had sales of $4.1 billion for the first quarter of 2023, up 12.2% over sales of $3.6 billion in the first quarter of 2022. Sales were up 14.5 per cent year over year on a daily, constant currency basis. High-Touch Solutions N.A. segment daily sales were up 14.5 per cent year over year, primarily due to strong price realization and continued volume growth. The Endless Assortment segment sales were up 3.8%, driven by core small business growth and new customer acquisition. The company’s overall profit margin for the first quarter was 40%, a 200-basis point increase compared to the prior-year period. Operating earnings were $680 million, up 27.4% versus the first quarter of 2022. Operating margin was up 200 basis points to 16.6%.

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