Toolmaker W.W. Grainger quarterly revenue rises on industrial demand

WW Grainger

25/04/2024 14:37

April 25 (Reuters) - Industrial parts provider W.W.
Grainger  GWW.N  reported a 3.4% increase in first-quarter
revenue on Thursday, helped by demand from its U.S. industrial
clients for maintenance and repair equipment.
    The Illinois-based company, which sells safety, maintenance,
and repair equipment to North American, Japanese industrial
clients, and domestic consumers, reported a quarterly profit of
$9.65 per share, a slight increase from per-share earnings of
$9.61 a year ago. 
    Daily sales at the company's High-Touch Solutions segment,
which caters to the North American manufacturing, warehousing,
and metalworking industries, were up 3.4% year-over-year.
    The unfavorable product mix in Zoro, a subsidiary of W.W.
Grainger, weighed on its online-only "Endless Assortment"
segment's gross profit margin, which declined 0.3%.  
   Total quarterly revenue was at $4.23 billion. 
   
    

 (Reporting by Pratyush Thakur in Bengaluru; Editing by Ravi
Prakash Kumar)
 ((pratyush.thakur@thomsonreuters.com;))