Grainger boosts earnings guidance

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Chicago—Industrial products supply giant Grainger on Wednesday presented an upbeat picture of its business to a meeting of financial analysts at the company’s Norcross, Ga., branch.

The company told analysts it has raised its earnings per share guidance from $2.80 to $2.90 to a new range of $2.95 to $3.05 for 2004. This year’s sales are expected to be 8% above 2003 sales.

In 2005, Grainger said, it anticipates a revenue increase of 8% to 11% compared with this year. The company said it expects earnings per share next year to be between $3.20 and $3.45.

Grainger said it is gaining market share due to several initiatives, including a new logistics network, expansion in key markets and an increase in its sales force. Grainger said it believes its new markets will generate $33 million in revenue this year and $100 million next year.

—Sean Callahan

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