Grainger reported sales, including fasteners, increased 2.4% to $3.02 billion in the third quarter of 2020, excluding revenue from Netherlands-based Fabory, which Grainger sold to a Dutch capital equity firm during the quarter.  Q3 operating earnings rose 12% to $380 million, while net earnings gained 3% to $240 million and operating margin improved 110 basis points to 12.6%.

U.S. segment sales grew 3.1%, driven largely by higher volume of pandemic-related products.

“The declines in non-pandemic product sales continued to moderate, while growth in pandemic product sales remained elevated, but began to ease from the levels experienced earlier in the year,” the company stated.

Sales during the first nine months of 2020 rose 2% to $8.85 billion, with operating earnings down 31% to $744 million and net earnings falling 26% to $570 million.

“I am extremely proud of the Grainger team for delivering strong results in both our U.S. high-touch and endless assortment businesses, as we continued to support new and existing customers, while prioritizing team member safety,” said CEO DG Macpherson.  Web: Grainger.com