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Toolmaker W.W. Grainger quarterly revenue rises on industrial demand
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Toolmaker W.W. Grainger quarterly revenue rises on industrial demand
Apr 25, 2024 7:01 AM

April 25 (Reuters) - Industrial parts provider W.W.

Grainger ( GWW ) reported a 3.4% increase in first-quarter

revenue on Thursday, helped by demand from its U.S. industrial

clients for maintenance and repair equipment.

The Illinois-based company, which sells safety, maintenance,

and repair equipment to North American, Japanese industrial

clients, and domestic consumers, reported a quarterly profit of

$9.65 per share, a slight increase from per-share earnings of

$9.61 a year ago.

Daily sales at the company's High-Touch Solutions segment,

which caters to the North American manufacturing, warehousing,

and metalworking industries, were up 3.4% year-over-year.

The unfavorable product mix in Zoro, a subsidiary of W.W.

Grainger ( GWW ), weighed on its online-only "Endless Assortment"

segment's gross profit margin, which declined 0.3%.

Total quarterly revenue was at $4.23 billion.

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