We've Been Impressed With Grainger's Margin Expansion Following Its 2017 Pricing Reset
Shares of W.W. Grainger traded down over 5% on April 22 following the release of first-quarter results. The narrow-moat rated industrial distributor's first-quarter sales grew a paltry 1% year over year to approximately $2.8 billion, which missed the consensus estimate by about 3%. Management acknowledged during the earnings call that the United States market was "choppy," and sales came in lighter than they had expected. Grainger's first-quarter sales were negatively affected by one less busin...W.W. Grainger is a distributor of maintenance, repair and operating (MRO) products and services in North America, Japan and Europe. The company's MRO product offering is grouped under material-handling equipment, safety and security supplies, lighting and electrical products, power and hand tools, pumps and plumbing supplies, cleaning and maintenance supplies and metalworking tools categories. The company's segments are the United States, which provides MRO products and services through its eCommerce platform, catalogs, branches and sales and service representatives; and Canada, which serves Canadian customers through its distribution center and branch network as well as sales and service representatives.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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