Grainger posts record Q3 earnings

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Chicago—Industrial distributor Grainger reported record third-quarter net earnings of $68 million, up 19% from a year earlier. Sales rose 8% to $1.3 billion.

Sales processed through increased 28% to $160 million.

"During the quarter, our redesigned logistics network continued to deliver productivity improvements and is on track to contribute $10 million to operating earnings this year," Chairman-CEO Richard L. Keyser said in a statement. He added that Grainger has boosted its 2004 earnings per share guidance to $2.80 to $2.90 from $2.65 to $2.85.

—Sean Callahan

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