Grainger Targets Daily Sales Growth Of 7%-11% For 2023

(RTTNews) - Grainger (GWW) said, for 2023, the company expects: earnings per share in a range of $32.00 - $34.50; and net sales of $16.2 - $16.8 billion. Sales growth is estimated to be 6.6% - 10.6%, and daily sales growth is expected in a range of 7.0% - 11.0%.

Fourth quarter adjusted earnings per share were $7.14, up 31.3% versus the fourth quarter of 2021. The company said the increase in earnings per share was due primarily to the strong operating performance in the quarter. Analysts on average had expected the company to earn $7.01 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. Earnings per share were $7.54 on a reported basis, up 38.6% versus the fourth quarter of 2021.

Fourth quarter sales were $3.8 billion, increased 13.2%, or 17.2% on a daily, constant currency basis versus the fourth quarter of 2021.

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