Grainger Reports Results For The Third Quarter 2021
Daily sales for the quarter increased 11.7% compared to the third quarter of 2020 with the same number of selling days. On an organic, constant currency basis, which excludes revenues from the divested China business from the prior year results, daily sales increased 11.9% as compared to the third quarter of 2020. Foreign exchange contributed a 0.1% favorable impact during the third quarter of 2021 compared to the third quarter of 2020. Gross margin for the third quarter of 2021 was 37.1%, a 145 basis point increase over the prior year quarter driven by solid margin expansion in both segments. Reported and adjusted operating earnings for the third quarter of 2021 of $438 million were up 16% on a reported basis, and up 17% on an adjusted basis, versus the third quarter of 2020. Net cash provided by operating activities was $161 million and $311 million for the three months ended September 30, 2021 and 2020, respectively.