EarningsQ2 2026 Earnings Report
MX:GWW Q2 2026 EPS Results
Actual EPS$221.15
Consensus EPS$208.02
Beat/MissBeat by +$13.13
One Year Ago EPS$183.59
MX:GWW Q2 2026 Revenue Results
Actual Revenue$92.46B
Expected Revenue$91.27B
Beat/MissBeat by +$1.19B
YoY Revenue Growth+10.25%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
MX:GWW Upcoming Earnings
WW Grainger's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:GWW Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The earnings call conveyed a predominantly positive performance: strong top-line growth across both High-Touch and Endless Assortment, meaningful margin and EPS expansion, robust cash flow and an increased full-year guide. Headwinds remain—mix effects from project sales, private-label cost pressure, freight/fuel inflation, the lap of tariff refunds impacting Q3 margins, and MonotaRO prebuy moderation—but management outlined concrete mitigation steps (pricing actions in September, brand consolidation, distribution capacity expansion) and maintained confidence in strategy and execution. Overall, positives (growth, margins, cash, raised guidance, new DC) substantially outweigh the contained but notable near-term challenges.Company Guidance
Strong Top-Line Growth
Total company reported sales increased 10.3% year-over-year, or 13.7% on a daily organic constant currency basis, driven by strength in both High-Touch and Endless Assortment segments.
Segment Growth — High-Touch Solutions
High-Touch Solutions delivered sales growth of 11.9% reported (11.7% daily constant currency), supported by volume growth, healthy price contribution and project-based spend; segment operating margin improved to 17.3% (up 70 bps).
Segment Growth — Endless Assortment
Endless Assortment sales rose 13.5% reported or 20.6% on a daily organic constant currency basis; Zoro U.S. up ~18.4% (daily) and MonotaRO grew ~24% in local days/local constant currency. Segment operating margin increased to 11.5% (up 160 bps), with Zoro margin improving to 7.6% (up 180 bps) and MonotaRO margins ~14% (up ~80 bps).
Margin and Profitability Expansion
Gross margin was 39.5%, up 100 basis points year-over-year (including a ~90-basis-point tailwind from IEEPA tariff refunds). Operating margin was 16.1% (up 120 bps YoY).
Strong EPS and Cash Generation
Diluted EPS for the quarter was $12.01, up over 20% year-over-year. Operating cash flow was $444 million for the quarter, enabling $341 million returned to shareholders via dividends and share repurchases.
Raised Full-Year Guidance
Company raised its full-year outlook: expected daily organic constant currency sales growth of 11.5%–13.0%; operating margin guide of 15.8%–16.2%; and EPS guidance of $45.50–$47.25 (midpoint >17% YoY and >$1 improvement versus prior midpoint).
Positive Early Q3 Trajectory
Preliminary July sales were up north of 13% on a daily organic constant currency basis; Q3 sales expected to be north of $5 billion or up over 12% daily organic constant currency. Q3 operating margins are expected to be in the mid-15% range.
Operational Investments & Distribution Expansion
New Northwest Distribution Center in Oregon began outbound operations in July — a technology-enabled site intended to improve proximity and delivery speed for customers.
MX:GWW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed