Grainger Earnings Jump

Jason Sandefur

Grainger reported sales in its distribution segment, including fasteners, increased 10% to $1.33 billion during the third quarter of 2005, while operating earnings jumped 27% to $139 million. Q3 distribution sales grew 9% in the U.S., 18% in Mexico and 16% in Canada.
Distribution sales during the first nine months of 2005 improved 9% to $3.85 billion, with operating earnings climbing 15% to $379 million.
Overall Q3 sales improved 10% to $1.4 billion, while net earnings jumped 30% to $88.1 million.
CEO Richard Keyser thanked employees for their response to communities hit by Hurricanes Katrina and Rita. “Backed by a national logistics network, teams from across the country provided products to help the recovery efforts along the Gulf Coast,” Keyser noted. Grainger contributed $1.2 million to the American Red Cross, matching employee donations four-to-one.
During the first nine months of 2005, overall sales increased 9% to $4.1 billion, while net earnings grew 23% to $242 million. Web: grainger.com �2005 FastenerNews.com