Delivered $4.657 billion in sales, up 6.1% year-over-year, with diluted EPS of $10.21, up 3.4% versus Q3 2024.
Generated operating cash flow of $597 million and returned $399 million to shareholders through dividends and share repurchases.
High-Touch Solutions sales grew 3.4% to $3.635 billion, while Endless Assortment sales rose 18.2% to $935 million, with respective margin pressures and gains.
Narrowed FY 2025 guidance to sales of $17.8 – 18.0 billion (+3.9% – 4.7%), gross margin of 38.9% – 39.1%, and adjusted EPS of $39.00 – 39.75.
Tariff-related LIFO headwind of 0.8% – 0.9% on gross margin (~$140 – 160 million) expected to normalize by mid-2026, stabilizing run-rate at ~39%.

Oct 31, 2025, 3:00 PM

Presentation

Grainger reports Q3 2025 results

GWW

Earnings

M&A

Guidance Update

Q3 sales of $4.7 billion (+6.1% reported, +5.4% constant currency), gross margin 38.6%, operating margin 15.2%, and diluted EPS $10.21 (+3.4%), with $597 million in operating cash flow and $399 million returned to shareholders.
Agreed to divest UK-based Cromwell business and fully exit the UK market, refocusing on North America and Japan; expects ~$40 million of held-for-sale fourth-quarter revenues and ~20 bp annual operating margin benefit upon exit.
High-touch Solutions segment sales up 3.4% with a 17.2% operating margin; Endless Assortment segment sales up 18.2% (Zoro U.S. +17.8%, MonotaRO +12.6%) driving operating margin to 9.8%.
Tariff-related LIFO inventory valuation headwinds drove a 60 bp gross margin decline; company anticipates gross margin recovery to ~39% as LIFO impacts subside and pricing actions normalize.

Oct 31, 2025, 3:00 PM

Transcript

Grainger reports Q3 2025 results

GWW

Earnings

Guidance Update

M&A

Grainger delivered Q3 sales of $4.7 billion (up 6.1% reported; 5.4% daily constant currency), with gross margin at 38.6%, operating margin 15.2%, and diluted EPS of $10.21 (up $0.34 or 3.4%).
Results included tariff-related LIFO inventory valuation headwinds that were lighter than expected; excluding LIFO, operating margin would have risen year-over-year.
The endless assortment segment achieved 18.2% reported sales growth (14.6% constant currency), with Zoro US up 17.8% and MonotaRO up 12.6%; segment operating margin improved 100 bps to 9.8%.
Announced agreement to sell UK-based Cromwell business, fully exiting the UK to focus on North America and Japan.
Updated 2025 outlook: daily organic constant currency sales growth of 4.4–5.1% and adjusted diluted EPS of $39.00–$39.75; Q4 implied organic growth ~4% and operating margin ~14.5% midpoint.

Oct 31, 2025, 3:00 PM

Transcript

Grainger reports Q3 2025 results

GWW

Earnings

Guidance Update

Total company sales of $4.7 billion (+6.1% reported; +5.4% daily constant currency), gross margin 38.6%, operating margin 15.2%, and diluted EPS of $10.21 (+$0.34); operating cash flow of $597 million funded $399 million in dividends and share repurchases.
High-touch solution segment sales +3.4% (driven by volume and price), gross profit margin 41.1% and operating margin 17.2%; endless assortment segment sales +18.2% reported (Zoro US +17.8%; MonotaRO +12.6%), operating margin 9.8%.
LIFO inventory valuation headwinds totaled ~60 bps drag but were lighter than expected; implied FIFO margin would have grown year over year, and LIFO impacts are forecast to persist into 2026 until inflation cools.
Updated full-year 2025 guidance: daily organic constant currency sales growth of 4.4–5.1% and adjusted EPS of $39.00–$39.75; Q4 implied sales growth ~4% with operating margin ~14.5%; long-term gross margins expected to stabilize around 39%.

Oct 31, 2025, 3:00 PM

Transcript

Grainger reports Q3 2025 results

GWW

Earnings

Guidance Update

Share Buyback

Grainger delivered net sales of $4.7 billion, up 6.1% year-over-year (5.4% on a daily, constant currency basis) in Q3 2025.
Reported operating margin was 11.0% (adjusted 15.2%) and diluted EPS was $6.12 on a reported basis (adjusted $10.21, +3.4% year-over-year).
Generated $597 million of operating cash flow and $339 million of free cash flow; returned $399 million to shareholders through dividends and share repurchases.
Narrowed full-year 2025 adjusted diluted EPS guidance to $39.00–$39.75 (from $38.50–$40.25).

Oct 31, 2025, 12:07 PM

8-K

Grainger reports Q3 2025 results

GWW

Earnings

Guidance Update

Share Buyback

Net sales were $4.7 billion, up 6.1% year-over-year (5.4% daily, constant currency); adjusted diluted EPS was $10.21, up 3.4%.
Operating cash flow was $597 million, producing free cash flow of $339 million, and the company returned $399 million to shareholders via dividends and buybacks.
Operating margin was 11.0% reported and 15.2% adjusted, down 460 bps and 40 bps respectively year-over-year.
Full year 2025 guidance narrowed: net sales of $17.8–$18.0 billion and adjusted EPS of $39.00–$39.75.

Oct 31, 2025, 12:00 PM

Press Release

Grainger announces agreement to divest Cromwell

GWW

M&A

Grainger enters a definitive agreement to sell its U.K.-based Cromwell business to AURELIUS.
Plans to close its Zoro U.K. business, subject to required legal, regulatory, and employment consultations.
Expects a one-time, non-cash after-tax loss of $190 million to $205 million, predominantly recorded in Q3 2025.
Reaffirms strategic focus on North America and Japan via its High-Touch Solutions and Endless Assortment models.

Oct 17, 2025, 10:00 AM

Press Release

W.W. Grainger 8-K Update on Shareholder Meeting and Board Changes

GWW

Proxy Vote Outcomes

Board Change

Auditor Change

Shareholder meeting held on April 30, 2025 approved director elections and proposals, including ratifying independent auditor Ernst & Young for the year ending December 31, 2025.
Board changes effective May 2, 2025 include Stuart Levenick’s retirement, the appointment of E. Scott Santi as Lead Director, and reassignments for Rodney C. Adkins and Beatriz R. Perez.

May 5, 2025, 12:00 AM

8-K

WW Grainger Q1 2025 Earnings, Dividend & Guidance Update

GWW

Earnings

Dividends

Guidance Update

Reported net sales of $4.3B in Q1 2025 with an operating margin of 15.6%, diluted EPS of $9.86, and generated $646M in operating cash flow, reflecting resilient performance .
Increased the quarterly dividend by 10% to $2.26 per share—marking the 54th consecutive dividend increase—with the next payment on June 1, 2025 (record date May 12, 2025) .
Returned $380M to shareholders through dividends and share repurchases .
Management reaffirmed full-year 2025 guidance while addressing modest tariff impacts through initial pricing actions aimed at achieving price/cost neutrality .
Reported a 1.7% YoY increase in net sales (4.4% at constant currency) and operating earnings up 0.4%, with mixed segment performance in High-Touch Solutions and Endless Assortment .

May 1, 2025, 3:01 PM

Transcript Presentation Press Release 8-K Press Release

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