Steady Revenue Growth
Total company reported sales for the quarter were up 1.7%, or 4.4% on a daily constant currency basis.
Healthy Operating Margins
Operating margins for the company remained healthy at 15.6%, with diluted EPS finishing the quarter at $9.86, up 2.5% compared to the prior year.
Strong Cash Flow and Shareholder Returns
Operating cash flow came in at $646 million, allowing a return of $380 million to shareholders through dividends and share repurchases. A 10% increase to the quarterly dividend was announced.
Endless Assortment Segment Growth
Sales increased 10.3%, or 15.3% on a daily constant currency basis, with Zoro U.S. up 18.4% and MonotaRO achieving 13.6% growth in local days, local currency.
Recognition for Company Culture
Grainger received several recognitions, including World's Most Admired Companies and Glassdoor's Best Places to Work.