W.W. Grainger Q3 2026 earnings: very strong

W.W. Grainger, which sells industrial supplies such as tools, safety gear and spare parts to businesses, grew sales 11.3% to $5.2 billion in the third quarter of 2026. Its own adjusted earnings per share, which leave out one-off items, rose 22.8% to $12.54. It raised its forecasts for the year's sales and profit for the second time in a row. ¹

Against what analysts expected

Adjusted earnings per share of $12.54 came in about 8% above the analysts' average forecast of $11.64, according to Nasdaq's earnings calendar. ¹²

The strong points

Sales rose 11.3% to $5.2 billion, and by 14.9% once the closed U.K. business and currency swings are set aside. ¹
On the company's own adjusted basis, earnings per share rose 22.8% to $12.54. ¹
The business produced $546 million of free cash flow, the cash left after running the business and investing in it. ¹

The weak points

In its largest business, North American High-Touch, what is left of each dollar of sales after the direct cost of the goods fell by 0.3 percentage points, to 40.8%. ¹
Money owed by customers rose sharply over nine months, tying up $557 million of cash. ¹
Part of the per-share profit rise came from buying back shares and a slightly lower tax rate, not from running the business. ¹

What the company expects

Grainger raised its full-year forecast for adjusted earnings per share to $47.00–$48.00, from $45.50–$47.25 three months ago. ¹
It also raised its full-year sales forecast to $19.8–$20.0 billion, from $19.4–$19.7 billion. ¹

Our verdict on the quarter

A very strong report. Grainger raised its sales and profit forecasts for the year, earned clearly more per share than analysts expected, and grew both sales and underlying profit at double-digit rates.

The results as published

Notes

W.W. Grainger's results release, 4 November 2026: sec.gov. ↩
Nasdaq's earnings calendar, 4 November 2026. ↩

W.W. Grainger earnings: third quarter 2026