W.W. Grainger, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>W.W. Grainger, Inc. has filed its Q1 2024 10-Q report.</b>

AI Summary

W.W. GRAINGER, INC. (GWW) filed a Quarterly Report (10-Q) with the SEC on April 25, 2024. W.W. Grainger, Inc. filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. The filing was made on April 25, 2024. The company's headquarters are located in Lake Forest, IL.

Why It Matters

For investors and stakeholders tracking W.W. GRAINGER, INC., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational details for W.W. Grainger, Inc. for the first quarter of 2024. The detailed financial information in this report is crucial for understanding the company's current financial health, trends, and potential future performance.

Risk Assessment

Risk Level: low — W.W. GRAINGER, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to assess W.W. Grainger's Q1 2024 results.

Key Numbers

• 2024-03-31 — Report Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-04-25 — Filing Date (FILED AS OF DATE)
• 2024-01-01 — Quarter Start Date (Fiscal Quarter Details)
• 2023-03-31 — Prior Year Quarter End Date (Fiscal Quarter Details)

Key Players & Entities

• W.W. GRAINGER, INC. (company) — FILER
• 100 GRAINGER PARKWAY (company) — BUSINESS ADDRESS STREET 1
• LAKE FOREST (company) — BUSINESS ADDRESS CITY
• IL (company) — BUSINESS ADDRESS STATE
• 60045-5201 (company) — BUSINESS ADDRESS ZIP
• 847-535-1000 (company) — BUSINESS PHONE

FAQ

Industry Context

W.W. Grainger, Inc. operates in the wholesale trade of durable goods, serving industrial, commercial, and institutional customers.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key metrics for Q1 2024.
2. Examine segment performance, particularly 'Manufacturing', 'HighTouchSolutionsNA', and 'EndlessAssortment'.
3. Review any disclosures related to risks, legal proceedings, or changes in internal controls.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q.
• 2024-04-25: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the first 10-Q filing for the fiscal year 2024, following the 2023 annual report (10-K).

Filing Documents

• gww-20240331.htm (10-Q) — 775KB
• gww-20240331xex101.htm (EX-10.1) — 132KB
• gww-20240331xex102.htm (EX-10.2) — 131KB
• gww-20240331xex103.htm (EX-10.3) — 142KB
• gww-20240331xex311.htm (EX-31.1) — 10KB
• gww-20240331xex312.htm (EX-31.2) — 10KB
• gww-20240331xex32.htm (EX-32) — 6KB
• 0000277135-24-000059.txt (&nbsp;) — 4767KB
• gww-20240331.xsd (EX-101.SCH) — 25KB
• gww-20240331_cal.xml (EX-101.CAL) — 65KB
• gww-20240331_def.xml (EX-101.DEF) — 107KB
• gww-20240331_lab.xml (EX-101.LAB) — 412KB
• gww-20240331_pre.xml (EX-101.PRE) — 273KB
• gww-20240331_htm.xml (XML) — 533KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

: Financial Statements (Unaudited)

Item 1: Financial Statements (Unaudited) Condensed Consolidated Statements of Earnings for the Three Months Ended March 31, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Earnings for the Three Months Ended March 31, 2024 and 2023 4 Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 5 Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 6 Condensed Consolidated Statements of Shareholders' Equity for the Three Months Ended March 31, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 9

: Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations 15

: Quantitative and Qualitative Disclosures About Market Risk 24

Item 3: Quantitative and Qualitative Disclosures About Market Risk 24

: Controls and Procedures 24

Item 4: Controls and Procedures 24

- OTHER INFORMATION

PART II - OTHER INFORMATION

: Legal Proceedings 25

Item 1: Legal Proceedings 25

: Risk Factors 25

Item 1A: Risk Factors 25

: Unregistered Sales of Equity Securities and Use of Proceeds 25

Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 25

: Other Information 25

Item 5: Other Information 25

: Exhibits 26

Item 6: Exhibits 26 Signatures 27 2

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION

: Financial Statements

Item 1: Financial Statements W.W. Grainger, Inc. and Subsidiaries CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (In millions of dollars and shares, except for per share amounts) (Unaudited) Three Months Ended March 31, 2024 2023 Net sales $ 4,235 $ 4,091 Cost of goods sold 2,567 2,457 Gross profit 1,668 1,634 Selling, general and administrative expenses 999 954 Operating earnings 669 680 Other expense (income): Interest expense – net 21 24 Other – net ( 7 ) ( 6 ) Total other expense – net 14 18 Earnings before income taxes 655 662 Income tax provision 158 154 Net earnings 497 508 Less net earnings attributable to noncontrolling interest 19 20 Net earnings attributable to W.W. Grainger, Inc. $ 478 $ 488 Earnings per share: Basic $ 9.65 $ 9.66 Diluted $ 9.62 $ 9.61 Weighted average number of shares outstanding: Basic 49.2 50.2 Diluted 49.4 50.5 The accompanying notes are an integral part of these financial statements. 3 W.W. Grainger, Inc. and Subsidiaries CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE EARNINGS (In millions of dollars) (Unaudited) Three Months Ended March 31, 2024 2023 Net earnings $ 497 $ 508 Other comprehensive earnings (losses): Foreign currency translation adjustments – net of reclassification to earnings ( 54 ) 2 Postretirement benefit plan losses and other – net of tax benefit of $ 1 and $ 1 , respectively ( 3 ) ( 3 ) Total other comprehensive earnings (losses) ( 57 ) ( 1 ) Comprehensive earnings – net of tax 440 507 Less comprehensive earnings (losses) attributable to noncontrolling interest Net earnings 19 20 Foreign currency translation adjustments ( 22 ) ( 5 ) Total comprehensive earnings (losses) attributable to noncontrolling interest ( 3 ) 15 Comprehensive earnings attributable to W.W. Grainger, Inc. $ 443 $ 492 The accompanying notes are an integral part of these financial statements. 4 W.W. Grainger, Inc. and Subsidiaries CONDENSED CONSOLIDATED BALANCE SHEETS (In millio

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

: Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations The following Management's Discussion and Analysis (MD&A) of Financial Condition and Results of Operations is intended to help the reader understand the results of operations and financial condition of W.W. Grainger, Inc. (Grainger or Company) as it is viewed by management of the Company. The following discussion should be read in conjunction with the Consolidated Financial Statements and accompanying notes for the year ended December 31, 2023 included in the Company's 2023 Form 10-K and the Condensed Consolidated Financial Statements and accompanying notes included in Part I, Item 1: Financial Statements of this Form 10-Q. Percentage figures included in this section have not been calculated on the basis of such rounded figures but on the basis of such amounts prior to rounding. For this reason, percentage amounts in this section may vary slightly from those obtained by performing the same calculations using the figures in the Company's Condensed Consolidated Financial Statements or in the associated text. Overview Grainger is a broad line, business-to-business distributor of maintenance, repair and operating (MRO) products and services with operations primarily in North America, Japan and the U.K. Grainger uses a combination of its high-touch solutions and endless assortment businesses to serve its customers worldwide, which rely on Grainger for products and services that enable them to run safe, sustainable and productive operations. Strategic Priorities For a discussion of the Company's strategic priorities for 2024, see Part 1, Item 1: Business and Part II, Item 7: Management's Discussion and Analysis of Financial Condition and Results of Operations in the Company's 2023 Form 10-K. Recent Events Macroeconomic Conditions The global economy continues to experience volatile disruptions including to the commodity, labor and transportation markets, arising from

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS Results

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View this 10-Q filing on SEC EDGAR