Grainger Reports Results For The Fourth Quarter And Full Year 2020

2020 Financial Highlights
•Delivered sales of $11.8 billion, up 2.7%, and up 3.5% on an organic, daily, constant currency basis compared to the prior year (excluding divestitures and foreign exchange)
•Generated reported operating earnings of $1.0 billion; adjusted operating earnings of $1.3 billion
•Achieved $1.1 billion of operating cash flow and returned over $0.9 billion to shareholders through dividends and share repurchases

Fourth Quarter Financial Highlights
•Delivered sales of $2.9 billion, up 3.3%, and up 5.6% on an organic, daily, constant currency basis compared to the fourth quarter 2019 (excluding divestitures and foreign exchange)
•Generated reported operating earnings of $275 million; adjusted operating earnings of $295 million
•Achieved reported operating margin of 9.4%, up 300 basis points; adjusted operating margin of 10.0%, down 75 basis points

Grainger (NYSE: GWW) today reported results for the full year and fourth quarter 2020. For the full year, sales of $11.8 billion increased 2.7%, up 3.5% on an organic, daily, constant currency basis compared to the prior year. Sales of $2.9 billion in the fourth quarter 2020 increased 3.3%, up 5.6% on an organic, daily, constant currency basis versus the fourth quarter 2019. Top-line growth was driven by substantial share gains in the U.S. segment and continued strong growth in the endless assortment businesses.

“2020 was a year filled with challenges and uncertainty. I’m proud of how the Grainger team made quick, prudent decisions to best serve our customers, keep our employees safe, and remain in a strong financial position. In both the full-year and fourth quarter 2020, despite the challenges of the pandemic, we delivered solid top-line growth by gaining significant share in the U.S. and delivering impressive growth in our endless assortment businesses. In addition, we managed SG&A spending below the prior year while continuing to generate significant operating cash flow,” said DG Macpherson, Chairman and Chief Executive Officer. “In 2020, we demonstrated our ability to deliver in tough economic times and expect business performance will improve sequentially as the virus subsides throughout the year. We remain confident in our strategy and excited about 2021 and beyond.”
details at: https://pressroom.grainger.com/news/press-release-details/2021/Grainger-Reports-Results-For-The-Fourth-Quarter-And-Full-Year-2020/default.aspx

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