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.
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.
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.
SOURCE W.W. Grainger, Inc.