GWW · 10-Q · 2026Q2 · Full report
Operating Income and Margins
W.W. GRAINGER, INC. · 2026-08-04 · Importance 64 · Surprise 56 · In source text
Six-month operating earnings increased 18.5% to $1,600 million from $1,350 million, and operating margin expanded to 16.4% from 15.2%. High-Touch Solutions N.A. operating earnings increased 15.6% to $1,374 million, while Endless Assortment operating earnings increased 37.8% to $226 million. Second-quarter operating earnings increased 19% to $807 million, reflecting 13% gross-profit growth that exceeded 9% SG&A growth. Diluted EPS increased 19.3% to $23.66 for the six months and 20.5% to $12.01 for the quarter.
Key facts
- Endless Assortment operating earnings for the three months ended June 30, 2026: $121 million, increased $29 million or 32% compared to the same period in 2025. source
- Endless Assortment six months operating earnings: $226 million, increased $62 million or 37.8% compared to the same period in 2025. source
- Operating earnings for the three months ended June 30, 2026: $807 million, increased $129 million or 19% compared to the same period in 2025. source
- High-Touch Solutions N.A. operating earnings for the three months ended June 30, 2026: $686 million, increased $97 million or 17% versus prior year. source
- Operating earnings for the six months ended June 30, 2026: $1,600 million, increased $250 million or 19% compared to the same period in 2025. source
- High-Touch Solutions N.A. six months operating earnings: $1,374 million, increased $185 million or 15.6% compared to the same period in 2025. source
- Diluted earnings per share for the three months ended June 30, 2026: $12.01, an increase of 20% compared to $9.97 for the same period in 2025. source
- Diluted earnings per share for the six months ended June 30, 2026: $23.66, an increase of 19% compared to $19.83 for the same period in 2025. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | +5.0% | Operating earnings for the six months ended June 30, 2026: $1,600 million, increased $250 million or 19% compared to the same period in… |
| operating_income | positive | realized | +3.7% | High-Touch Solutions N.A. six months operating earnings: $1,374 million, increased $185 million or 15.6% compared to the same period in… |
| operating_income | positive | realized | +2.6% | Operating earnings for the three months ended June 30, 2026: $807 million, increased $129 million or 19% compared to the same period in… |
| operating_income | positive | realized | +1.9% | High-Touch Solutions N.A. operating earnings for the three months ended June 30, 2026: $686 million, increased $97 million or 17% versus… |
| operating_income | positive | realized | +1.2% | Endless Assortment six months operating earnings: $226 million, increased $62 million or 37.8% compared to the same period in 2025. |
| operating_income | positive | realized | +0.6% | Endless Assortment operating earnings for the three months ended June 30, 2026: $121 million, increased $29 million or 32% compared to the… |