W.W. Grainger Inc

GWW: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$324.00	Hzdsy	Tzkxdjj

Grainger Earnings: Demand Remains Soft, but We Still Forecast Mid-Single-Digit Sales Growth in 2024

Dawit Woldemariam

Apr 26, 2024

We increased our fair value estimate for Grainger by 3% to $570 per share, up from $550 previously. Management maintained guidance, which implies volume growth for the US maintenance, repair, and operations, or MRO, industry will be flat to slightly up in 2024. Last quarter, management commented that pricing growth will likely be between 0%-1% this year.

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