The company said net sales for fiscal 2023 rose to $16,478 million, up $1,250 million (8%), and gross profit was $6,496 million, while gross profit margin of 39.4% improved by 100 basis points.

1. 01

   The company said net sales for fiscal 2023 rose to $16,478 million, up $1,250 million (8%), and gross profit was $6,496 million, while gross profit margin of 39.4% improved by 100 basis points.

2. 02

   W.W. Grainger said operating earnings for fiscal 2023 rose 16% to $2,565 million, while adjusted operating earnings increased 18% to $2,591 million. Adjusted diluted EPS was $36.67, up 24% from $29.66 a year earlier.

3. 03

   The company said net cash provided by operating activities for fiscal 2023 was $2,031 million ($1,333 million in the prior year), and it repurchased $850 million of its shares in the open market ($603 million in the prior year).

4. 04

   The company said it recorded a one-time pre-tax loss of $26 million in SG&A from the divestiture of E & R Industrial Sales, Inc. in Q4 2023. In Q4 2022, it recorded a one-time pre-tax gain of $21 million from the divestiture of Cromwell's software business in the U.K.

Key figures

Fiscal year ended December 31, 2023

Revenue

$16.5B

Operating income

$2.6B

Net income

$1.8B

EPS

$36.23

Gross profit

$6.5B

Operating cash flow

$2.0B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.