GWW · 10-Q · 2026Q3 · Full report

Operating Expense Trends

W.W. GRAINGER, INC. · 2026-11-04 · Importance 54 · Surprise 40

Third-quarter reported SG&A decreased 8% to $1,183 million, but adjusted SG&A increased 8% to $1,175 million, primarily due to higher payroll and benefits. For the first nine months, reported SG&A rose 1.8% to $3,463 million and adjusted SG&A increased 8% to $3,455 million. High-Touch Solutions N.A. nine-month SG&A increased 11% to $2,866 million, primarily from payroll and benefits, while Endless Assortment SG&A rose 7% to $597 million, primarily due to higher marketing expenses.

Key facts

• For the three months ended September 30, 2026, High-Touch Solutions N.A. SG&A expenses were $981 million, up $110 million or 13%; adjusted SG&A was $973 million, up $102 million or 12%, primarily due to higher payroll and benefit expenses. source
• For the nine months ended September 30, 2026, High-Touch Solutions N.A. SG&A expenses were $2,866 million, up $291 million or 11%; adjusted SG&A was $2,858 million, up $283 million or 11%, primarily due to higher payroll and benefit expenses. source
• For the three months ended September 30, 2026, reported SG&A expenses were $1,183 million, down $104 million or 8%; adjusted SG&A expenses were $1,175 million, up $84 million or 8%. source
• For the nine months ended September 30, 2026, reported SG&A expenses were $3,463 million, up $61 million or 2%; adjusted SG&A was $3,455 million, up $249 million or 8%. source
• In the third quarter of 2025, Grainger recorded a $186 million pretax asset impairment loss in SG&A after committing to sell Cromwell and determining the U.K. business met held-for-sale criteria. source
• For the three months ended September 30, 2026, Endless Assortment SG&A expenses were $202 million, up $3 million or 2%; adjusted SG&A increased $13 million or 7%, primarily due to higher payroll, benefits, and marketing expenses. source
• For the nine months ended September 30, 2026, Endless Assortment SG&A expenses were $597 million, up $40 million or 7%; adjusted SG&A increased $50 million or 9%, primarily due to higher marketing expenses. source
• Grainger announced the closure of Zoro U.K. in the third quarter of 2025 and recorded $10 million of SG&A expenses related to the closure; the Cromwell divestiture and Zoro U.K. closure were completed in the fourth quarter of 2025. source