CHICAGO, Nov. 14, 2012 /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, Illinois. Chairman, President and Chief
Executive Officer, Jim Ryan hosted
the event. The meeting also included presentations from other
Grainger leaders.
"Grainger is well positioned to meet the needs of businesses and
institutions as they look to manage the MRO products used to
maintain their facilities. We continue to see significant
potential to gain share in the global MRO market. We have a
strong, deliberate strategy and are managing the business for the
long-term, generating solid returns for our shareholders and
running a healthy business regardless of the economic conditions,"
said Mr. Ryan.
As part of the meeting, Grainger provided the following outlook
for sales and earnings in 2012 and 2013:
- For the 2012 fourth quarter, the company is forecasting sales
to increase 7 percent to 9 percent and expects earnings per share
of $2.55 to $2.75.
- For the full year 2012, the company reiterated its sales growth
forecast of 11 percent to 12 percent, and narrowed its earnings per
share guidance to a new range of $10.55 to
$10.75*, excluding the reserve adjustment related to the
expected settlement with the Department of Justice announced on
October 16, 2012. This replaces
the company's previous earnings per share guidance of $10.50 to $10.80 issued on July 18, 2012.
- For the full year 2013, the company is forecasting sales growth
of 2 percent to 8 percent and expects earnings per share of
$10.85 to $12.00.
*Earnings per share guidance of $10.55 to
$10.75 excludes $0.66 reserve
adjustment related to the expected settlement with the Department
of Justice announced on October 16,
2012.
Information presented at the Annual Analyst Meeting, including
details supporting the company's guidance and longer term
expectations, can be found in the archived webcast from the meeting
available on Grainger's Investor Relations web site at
www.grainger.com/investor.
W.W. Grainger, Inc. with 2011
sales of $8.1 billion is North America's leading broad line supplier of
maintenance, repair and operating products, with expanding global
operations.
Forward-Looking Statements
This document contains forward-looking statements under the federal
securities law. Forward-looking statements relate to the
company's expected future financial results and business plans,
strategies and objectives and are not historical facts. They
are generally identified by qualifiers such as "proposed",
"continues to expect", "earnings per share guidance", "EPS
guidance", "sales guidance", or similar expressions. There are
risks and uncertainties, the outcome of which could cause the
company's results to differ materially from what is
projected. The forward-looking statements should be read in
conjunction with the company's most recent annual report, as well
as the company's Form 10-K, Form 10-Q and other reports filed with
the Securities & Exchange Commission, containing a discussion
of the company's business and various factors that may affect
it.
SOURCE W.W. Grainger, Inc.