Grainger reports record earnings-per-share growth for second quarter

By Bridget McCrea

Grainger (NYSE: GWW) today reported record results for the second quarter ended June 30, 2012.  Sales of $2.2 billion were up 12% versus $2.0 billion in the second quarter of 2011.

The distributor’s net earnings for the quarter increased 12% to $191 million versus $170 million in 2011. Earnings per share of $2.63 increased 12% versus $2.34 in 2011.

In 2011, the firm’s second quarter results included a $0.12 per share benefit primarily from the settlement of tax examinations. Excluding the tax benefit in 2011, earnings per share increased 18% in the quarter.

Sales for the United States segment increased 7% in the second quarter of 2012 compared to the same period in 2011. Second quarter sales for Acklands-Grainger in Canada increased 9%, 14% in local currency.

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