Grainger CEO says 'results for the quarter were strong'
"Results for the quarter were strong, led by increased volume in our U.S. business with both large and medium customers, supported by a strong demand environment. Performance in Canada has improved although we are still in the early stages of the turnaround. Our single channel and international businesses also contributed to the strong performance," said DG Macpherson, Chairman and Chief Executive Officer. "We remain confident that the strategic actions we are executing in the United States and Canada are helping us create a stronger business. Based on the encouraging results we're seeing," Macpherson concluded, "we are increasing our sales and EPS guidance for the year." As a result, the company raised its 2018 sales and earnings per share guidance for the year and now expects sales growth of 5 to 8 percent and earnings per share of $14.30 to $15.30. The company's previous 2018 guidance, communicated on Jan. 24, 2018, was sales growth of 3 to 7 percent and earnings per share of $12.95 to $14.15.