MDM looks at another round of earnings reports from industrial distributors and manufacturers.
The company’s sales growth flattened to end the year, while full-year sales grew by a modest 3%, according to Honeywell.
MDM looks at another round of earnings reports from industrial suppliers.
The toolmaker reported full-year 2022 revenues of $16.9 Billion, an 11% increase over the prior-year total.
For the full year, Grainger saw its sales grow 16.9% from 2021.
Full-year sales and revenue also increased 17% over the prior year, the heavy equipment maker said in a Jan. 31 announcement.
The company’s fiscal 2023 1Q (October-December 2022) sales grew 6.7% year-over-year compared with 17.6% in 2022 4Q.
The PPE supplies and adhesives maker experienced slower-than-expected fourth-quarter growth in consumer-facing markets.
Though solid, sales and profit growth were considerably smaller than the previous several quarters.
The distributor posted operating income of $116 million as it had yet another month with double-digit year-over-year quarterly sales growth.
The company finalized its acquisition of Lanier Municipal Supply Co. Inc., while 3Q 2022 net sales increased 29.4% over last year.
Net sales increased 24.4% over the second-quarter of last fiscal year but were down from the 30.5% year-over-year increase in FY ’23’s 1Q.
