NYSE: GWW
W.W. GRAINGER, INC.CIK 0000277135 · SIC 5000 · Durable Goods - Wholesale
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Grainger Q2 sales +10.3% to $5.02B, net income +18.3% to $570.0M; tariff refunds boost margins
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Latest financial statements
From 10-Q filed Aug 4, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Earnings (Unaudited)
(In millions of dollars and shares, except for per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Net sales | 5,021 | 4,554 | 9,763 | 8,860 |
| Cost of goods sold | 3,037 | 2,799 | 5,883 | 5,395 |
| Gross profit | 1,984 | 1,755 | 3,880 | 3,465 |
| Selling, general and administrative expenses | 1,177 | 1,077 | 2,280 | 2,115 |
| Operating earnings | 807 | 678 | 1,600 | 1,350 |
| Other expense (income): | ||||
| Interest expense net | 20 | 20 | 41 | 41 |
| Other net | (11) | (3) | (14) | (9) |
| Total other expense net | 9 | 17 | 27 | 32 |
| Earnings before income taxes | 798 | 661 | 1,573 | 1,318 |
| Income tax provision | 198 | 153 | 392 | 310 |
| Net earnings | 600 | 508 | 1,181 | 1,008 |
| Less net earnings attributable to noncontrolling interest | 30 | 26 | 56 | 47 |
| Net earnings attributable to W.W. Grainger, Inc. | 570 | 482 | 1,125 | 961 |
| Earnings per share: | ||||
| Basic | 12.02 | 9.99 | 23.69 | 19.87 |
| Diluted | 12.01 | 9.97 | 23.66 | 19.83 |
| Weighted average number of shares outstanding: | ||||
| Basic | 47.2 | 48.0 | 47.3 | 48.1 |
| Diluted | 47.2 | 48.1 | 47.3 | 48.2 |
Condensed Consolidated Balance Sheets
(In millions of dollars, except for share and per share amounts)
| Description | (Unaudited) June 30, 2026 | December 31, 2025 |
|---|---|---|
| Current assets | ||
| Cash and cash equivalents | 589 | 585 |
| Accounts receivable (less allowance for credit losses of $33 and $32, respectively) | 2,825 | 2,329 |
| Inventories net | 2,371 | 2,394 |
| Prepaid expenses and other current assets | 213 | 176 |
| Total current assets | 5,998 | 5,484 |
| Property, buildings and equipment net | 2,401 | 2,268 |
| Goodwill | 354 | 360 |
| Intangibles net | 272 | 265 |
| Operating lease right-of-use | 360 | 345 |
| Other assets | 233 | 240 |
| Total assets | 9,618 | 8,962 |
| Liabilities and shareholders' equity | ||
| Current liabilities | ||
| Current maturities | 2 | 126 |
| Trade accounts payable | 1,280 | 963 |
| Accrued compensation and benefits | 347 | 343 |
| Operating lease liability | 72 | 73 |
| Accrued expenses | 389 | 386 |
| Income taxes payable | 48 | 49 |
| Total current liabilities | 2,138 | 1,940 |
| Long-term debt | 2,406 | 2,362 |
| Long-term operating lease liability | 317 | 301 |
| Deferred income taxes and tax uncertainties | 149 | 121 |
| Other non-current liabilities | 95 | 97 |
| Shareholders' equity | ||
| Cumulative preferred stock $5 par value – 12,000,000 shares authorized; none issued or outstanding | — | — |
| Common Stock $0.50 par value – 300,000,000 shares authorized; 109,659,219 shares issued | 55 | 55 |
| Additional contributed capital | 1,448 | 1,446 |
| Retained earnings | 15,858 | 14,958 |
| Accumulated other comprehensive losses | (198) | (165) |
| Treasury stock, at cost 62,558,699 and 62,240,438 shares, respectively | (13,032) | (12,558) |
| Total W.W. Grainger, Inc. shareholders’ equity | 4,131 | 3,736 |
| Noncontrolling interest | 382 | 405 |
| Total shareholders' equity | 4,513 | 4,141 |
| Total liabilities and shareholders' equity | 9,618 | 8,962 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(In millions of dollars)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities: | ||
| Net earnings | 1,181 | 1,008 |
| Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
| Provision for credit losses | 13 | 13 |
| Deferred income taxes and tax uncertainties | 31 | 1 |
| Depreciation and amortization | 128 | 125 |
| Non-cash lease expense | 40 | 41 |
| Stock-based compensation | 39 | 35 |
| Change in operating assets and liabilities: | ||
| Accounts receivable | (510) | (212) |
| Inventories | 14 | (19) |
| Prepaid expenses and other assets | (32) | (33) |
| Trade accounts payable | 312 | 231 |
| Operating lease liabilities | (48) | (53) |
| Accrued liabilities | 21 | (60) |
| Income taxes net | (4) | (37) |
| Other non-current liabilities | (2) | (17) |
| Net cash provided by operating activities | 1,183 | 1,023 |
| Cash flows from investing activities: | ||
| Capital expenditures | (281) | (300) |
| Proceeds from sale of assets | — | 4 |
| Other net | (13) | 13 |
| Net cash used in investing activities | (294) | (283) |
| Cash flows from financing activities: | ||
| Short-term borrowings (repayments), original maturities of 90 days or less, net | (125) | — |
| Proceeds from debt | 52 | 63 |
| Payments of debt | (4) | (503) |
| Proceeds from stock options exercised | 8 | 2 |
| Payments for employee taxes withheld from stock awards | (30) | (30) |
| Purchases of treasury stock | (461) | (507) |
| Purchases of noncontrolling interests | (70) | — |
| Cash dividends paid | (253) | (225) |
| Other net | 9 | (1) |
| Net cash used in financing activities | (874) | (1,201) |
| Exchange rate effect on cash and cash equivalents | (11) | 22 |
| Net change in cash and cash equivalents | 4 | (439) |
| Cash and cash equivalents at beginning of year | 585 | 1,036 |
| Cash and cash equivalents at end of period | 589 | 597 |
Amounts as printed on the EDGAR/iXBRL face — (In millions of dollars and shares, except for per share amounts); (In millions of dollars, except for share and per share amounts); (In millions of dollars). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗