11/17/2010
NEWS BRIEFS
Grainger Forecasts Double-Digit Growth in 2010

Grainger CEO Jim Ryan offered outlook for company sales and earnings in 2010 and 2011.
 

For the 2010 fourth quarter, the company is forecasting sales to increase 8% to 10%, and expects earnings per share for the quarter to be between $1.49 and $1.69, excluding unusual items.
 

For the full year 2010, the company expects sales to increase 14% to 15%, and has narrowed its earnings per share forecast to be between $6.50 and $6.70, excluding unusual items.  In October, the company had forecasted 2010 full year EPS of $6.40 to $6.70 on 14% to 15% sales growth.
 

For the full year 2011, the company is forecasting sales to increase 5% to 9%, and expects earnings per share to be between $7.15 and $7.90.  
 

Grainger also affirmed its goal of expanding its operating margin by approximately 50 basis points per year in the context of mid to high single digit organic sales growth. The company established a new long term objective of increasing its operating margin to a range of 14% to 16%, up from the previous objective of 11% to 13%.  ©2010 GlobalFastenerNews.com

Related Stories:

• U.S. Sales for Grainger Approach Double-Digit Growth in October

Related Links:

• Grainger