Grainger (NYSE: GWW) supplies all manner of facilities maintenance products to all types of businesses. The company just posted great 2Q numbers. Sales gained 10% to $1.8 billion. Net earnings increased 8% to $113 million and EPS turned out a healthy $1.43. Grainger posted these good numbers and gained market share in a slowing economy. Nice work.
Grainger operates in the U.S., Mexico and is beginning to establish a footprint in China. The company is expanding both its product line and its market reach in each of these markets. Sales in the U.S. grew 9% and the company opened 6 new full service locations. Sales in Mexico grew 25% and the company opened one new full service location. China sales doubled to $2 million from the company's one location, with big expansion plans for the future. Grainger has added another 100,000 products to its catalog and repurchased 800,000 shares of stock for $75 million. CEO James Ryan forecasts FY2008 EPS in the $5.80-$6.10 range, not a bad return on a stock that currently trades right around $86.
Grainger operates in the U.S., Mexico and is beginning to establish a footprint in China. The company is expanding both its product line and its market reach in each of these markets. Sales in the U.S. grew 9% and the company opened 6 new full service locations. Sales in Mexico grew 25% and the company opened one new full service location. China sales doubled to $2 million from the company's one location, with big expansion plans for the future. Grainger has added another 100,000 products to its catalog and repurchased 800,000 shares of stock for $75 million. CEO James Ryan forecasts FY2008 EPS in the $5.80-$6.10 range, not a bad return on a stock that currently trades right around $86.
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