Grainger reported sales, including fasteners, rose 9.4% to $2.9 billion in the second quarter of 2018, driven by a 9 percentage point increase from volume and 1 percentage point from foreign exchange, partially offset by a 1 percentage point decline from the divestiture of a specialty business.

Q2 operating jumped 50% to $344 million, while adjusted operating earnings increased 23% to $359 million.

“The second quarter exceeded our expectations, with strong growth from U.S. large and medium customers, gross profit that was better than anticipated and meaningful operating expense leverage,” said CEO DG Macpherson.

The company raised its 2018 sales and earnings per share guidance for the year and now expects sales growth of 5.5% to 8.5% and earnings per share of $15.05 to $16.05.

During the first six months of 2018, sales gained 9.1% to $5.63 billion, with operating earnings up 30% to $678.8 million and net earnings rising 68.5% to $488.5 million. Web: Grainger.com