W.W. Grainger Files 10-Q for Q2 2024
Ticker: GWW · Form: 10-Q · Filed: Aug 1, 2024 · CIK: 277135
Sentiment: neutral
Topics: 10-Q, quarterly-filing, financials
TL;DR
Grainger's Q2 10-Q is in. Check financials for 2024 performance.
AI Summary
W.W. Grainger, Inc. filed its 10-Q for the period ending June 30, 2024. The filing covers financial performance and operations for the second quarter and the first half of the year. Key financial data and operational details are presented for the reporting periods.
Why It Matters
This filing provides investors and analysts with a detailed look at W.W. Grainger's financial health and operational performance during the second quarter of 2024, impacting investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Players & Entities
- W.W. GRAINGER, INC. (company) — Filer
- 20240630 (date) — Period of Report
- 20240801 (date) — Filed as of Date
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240630, indicating the filing covers the period ending June 30, 2024.
What is the company's Central Index Key (CIK)?
The Central Index Key for W.W. Grainger, Inc. is 0000277135.
Where is W.W. Grainger, Inc. headquartered?
The company's business address is 100 Grainger Parkway, Lake Forest, IL 60045-5201.
What is the Standard Industrial Classification (SIC) code for W.W. Grainger, Inc.?
The SIC code is 5000, categorized under Wholesale-Durable Goods.
When was the company incorporated?
The State of Incorporation is IL (Illinois).
Filing Stats: 5,072 words · 20 min read · ~17 pages · Grade level 12.8 · Accepted 2024-08-01 16:35:37
Filing Documents
- gww-20240630.htm (10-Q) — 1263KB
- gww-20240630xex311.htm (EX-31.1) — 10KB
- gww-20240630xex312.htm (EX-31.2) — 10KB
- gww-20240630xex32.htm (EX-32) — 6KB
- 0000277135-24-000133.txt ( ) — 5198KB
- gww-20240630.xsd (EX-101.SCH) — 26KB
- gww-20240630_cal.xml (EX-101.CAL) — 65KB
- gww-20240630_def.xml (EX-101.DEF) — 105KB
- gww-20240630_lab.xml (EX-101.LAB) — 415KB
- gww-20240630_pre.xml (EX-101.PRE) — 272KB
- gww-20240630_htm.xml (XML) — 762KB
- FINANCIAL INFORMATION
PART I - FINANCIAL INFORMATION
: Financial Statements (Unaudited)
Item 1: Financial Statements (Unaudited) Condensed Consolidated Statements of Earnings for the Three and Six Months Ended June 30, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Earnings for the Three and Six Months Ended June 30, 2024 and 2023 4 Condensed Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 6 Condensed Consolidated Statements of Shareholders' Equity for the Three and Six Months Ended June 30, 2024 and 2023 7 Notes to Condensed Consolidated Financial Statements 9
: Management's Discussion and Analysis of Financial Condition and Results of Operations 16
Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operations 16
: Quantitative and Qualitative Disclosures About Market Risk 30
Item 3: Quantitative and Qualitative Disclosures About Market Risk 30
: Controls and Procedures 30
Item 4: Controls and Procedures 30
- OTHER INFORMATION
PART II - OTHER INFORMATION
: Legal Proceedings 31
Item 1: Legal Proceedings 31
: Risk Factors 31
Item 1A: Risk Factors 31
: Unregistered Sales of Equity Securities and Use of Proceeds 31
Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 31
: Other Information 31
Item 5: Other Information 31
: Exhibits 32
Item 6: Exhibits 32 Signatures 33 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 Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net sales $ 4,312 $ 4,182 $ 8,547 $ 8,273 Cost of goods sold 2,618 2,538 5,185 4,995 Gross profit 1,694 1,644 3,362 3,278 Selling, general and administrative expenses 1,045 983 2,044 1,937 Operating earnings 649 661 1,318 1,341 Other expense (income): Interest expense – net 20 24 41 48 Other – net ( 7 ) ( 8 ) ( 14 ) ( 14 ) Total other expense – net 13 16 27 34 Earnings before income taxes 636 645 1,291 1,307 Income tax provision 146 155 304 309 Net earnings 490 490 987 998 Less net earnings attributable to noncontrolling interest 20 20 39 40 Net earnings attributable to W.W. Grainger, Inc. $ 470 $ 470 $ 948 $ 958 Earnings per share: Basic $ 9.54 $ 9.32 $ 19.20 $ 18.98 Diluted $ 9.51 $ 9.28 $ 19.13 $ 18.89 Weighted average number of shares outstanding: Basic 49.0 50.1 49.1 50.2 Diluted 49.2 50.3 49.3 50.4 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 Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net earnings $ 490 $ 490 $ 987 998 Other comprehensive earnings (losses): Foreign currency translation adjustments – net of reclassification to earnings ( 57 ) ( 32 ) ( 111 ) ( 30 ) Postretirement benefit plan losses and other – net of tax benefits of $ 1 , $ 1 , $ 2 , and $ 2 , respectively ( 4 ) ( 3 ) ( 7 ) ( 6 ) Total other comprehensive earnings (losses) ( 61 ) ( 35 ) ( 118 ) ( 36 ) Comprehensive earnings – net of tax 429 455 869 962 Less comprehensive earnings (losses) attributable to noncontrolling interest Net earnings 20 20 39 40 Foreign currency translation adjustme
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