CHICAGO, Nov. 10, 2017 /PRNewswire/ -- Grainger
(NYSE: GWW), the leading broad line supplier of maintenance, repair
and operating (MRO) products serving businesses and institutions,
today held its Annual Analyst Meeting in Lake Forest, Ill. DG Macpherson, Chairman and
Chief Executive Officer, hosted the event. The meeting also
included a presentation from Ron
Jadin, Senior Vice President and Chief Financial
Officer.
"Accelerating growth with large and medium customers in
the United States remains our top
priority. Removing the pricing barrier has allowed us to provide
value to our customers, and we are very encouraged by the volume
response we're seeing," Macpherson said. "In Canada, we are facing
into a significant business model reset that should increase
profitability in a shorter time frame. Our single channel
businesses continue their strong revenue growth while expanding
operating margin," Macpherson concluded.
As part of the meeting, Grainger provided the following 2017 and
2018 outlook for sales and earnings, adjusted for items that the
company believes are not indicative of ongoing
operations:
- For the full year 2017, the company noted favorable sales and
earnings per share trends. It reiterated its sales guidance of 1.5
to 2.5 percent growth and earnings per share guidance of
$10.40 to $10.90.
- For the full year 2018, the company is forecasting sales growth
of 3 to 7 percent and earnings per share of $10.60 to $11.80.
Grainger also reiterated its longer term operating margin target
of 12 to 13 percent in 2019, excluding items that the company
believes are not indicative of ongoing operations.
Information presented at the Annual Analyst Meeting, including
details supporting the company's guidance and longer term
expectations, can be found in the News and Events section of the
Investor Relations website, www.grainger.com/investor.
About Grainger
W.W. Grainger, Inc., with 2016 sales
of $10.1 billion, is North America's leading broad line supplier of
maintenance, repair and operating products, with operations also in
Europe, Asia and Latin
America.
Safe Harbor Statement
All statements in this communication, other than those relating
to historical facts, are "forward-looking statements." These
forward-looking statements are not guarantees of future performance
and are subject to a number of assumptions, risks and
uncertainties, many of which are beyond our control, which could
cause actual results to differ materially from such statements.
These statements include, but are not limited to, statements about
future strategic plans and future financial and operating results.
Important factors that could cause actual results to differ
materially from our expectations include, among others: higher
product costs or other expenses; a major loss of customers; loss or
disruption of source of supply; increased competitive pricing
pressures; failure to develop or implement new technologies; the
implementation, timing and success of our strategic pricing
initiatives; the outcome of pending and future litigation or
governmental or regulatory proceedings, including with respect to
wage and hour, anti-bribery and corruption, environmental,
advertising, privacy and cybersecurity matters; investigations,
inquiries, audits and changes in laws and regulations; disruption
of information technology or data security systems; general
industry or market conditions; general global economic conditions;
currency exchange rate fluctuations; market volatility; commodity
price volatility; labor shortages; facilities disruptions or
shutdowns; higher fuel costs or disruptions in transportation
services; natural and other catastrophes; unanticipated weather
conditions; loss of key members of management; our ability to
operate, integrate and leverage acquired businesses; changes in
credit ratings; changes in effective tax rates and other factors
which can be found in our filings with the Securities and Exchange
Commission, including our most recent periodic reports filed on
Form 10-K and Form 10-Q, which are available on our Investor
Relations website. Forward-looking statements are given only as of
the date of this communication and we disclaim any obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events or otherwise, except as required
by law.
Non-GAAP Measures
At this time the company is unable to reconcile its 2017 and
2018 adjusted earnings per share guidance, and 2019 full year
adjusted operating margin guidance, to their corresponding
projected GAAP guidance without unreasonable efforts because
certain information necessary to calculate such measures on a GAAP
basis is unavailable, unknown or dependent on the timing of future
events outside of the company's control. These potential items
include but are not limited to additional restructuring expense or
other charges.
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SOURCE W.W. Grainger, Inc.