Grainger reported sales, including fasteners, increased 3% to $2.8 billion in the opening quarter of 2019, driven by a 3 percentage point increase in volume and a 1.5 percentage point increase from price. Operating earnings rose 8% to $363 million, with a margin of 13%.

“While our sales performance was softer than expected, largely due to a weaker demand environment, our SG&A leverage helped drive strong earnings growth in the quarter,” stated CEO DG Macpherson.

Gross profit margin was 39.1 percent versus 39.5 percent in the 2018 first quarter. Q1 net earnings gained 9% to $253 million. Web: Grainger.com