Analyst Consensus ?
ConsensusHold39 ratings
Bullish923.1%
Neutral2666.7%
Bearish410.2%
W.W. Grainger, Inc. · GWW · FY2026 Q2 · Calendar Q3 2026
Grainger raises guidance as demand expands across its businesses
Grainger's Q2 analysis supports a constructive but qualified view: resilient demand across High-Touch Solutions and Endless Assortment, plus higher guidance, point to continued growth. The durability of earnings depends on separating recurring operating progress from the one-time tariff refund and managing mix, freight, private-label costs, and pricing.
Reported Before market openNYSEIndustrials
$60.33B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$12.01
Consensus $11.30
EPS surprise
+6.3%
Reported versus consensus
Reported revenue
$5.02B
Consensus $4.96B
Revenue surprise
+1.3%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-5.2%
Event window
SPY move
+1.8%
Same window
Abnormal move
-7.0%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
+0.7%
Up to 20 sessions
GWWSPY benchmark
Ask FN2 about GWW FY2026 Q2
Transcript, numbers and history already loaded
Why did GWW fall 5.2% after beating EPS estimates in FY2026 Q2?What changed in GWW's guidance and outlook in FY2026 Q2?Give me the bull and bear case for GWW after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior quarter, Grainger reported stronger Q2 demand, raised full-year sales and EPS guidance, and identified data-center activity as a growth contributor. The quarter also added a new Oregon distribution center and a CFO transition, while tariff refunds provided a nonrecurring gross-margin benefit.
Guidance delta
Management raised full-year guidance to 11.5%–13% daily organic sales growth and EPS of $45.50–$47.25, from the prior quarter's 9.5%–12% organic sales growth and EPS of $44.25–$46.25.
Key takeaways
- Q2 sales grew 10.3% year over year, or 13.7% on a daily-organic basis, with operating margin of 16.1%.
- High-Touch Solutions and Endless Assortment both showed strong volume growth, including demand tied to data-center projects.
- IEEPA tariff refunds supported gross margin but were described as nonrecurring.
- Grainger announced a new Northwest Distribution Center and a CFO transition.
Management priorities
- Start up the Northwest Distribution Center in Oregon.
- Execute September pricing actions intended to offset inflationary cost increases.
- Continue private-label brand expansion, SKU optimization, and technology-enabled distribution investment.
Follow GWW with an agent that reads every filing, transcript, and price print. Free to start.
Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$1,268.62Current
$422Low
$1,082.39Average
$1,428High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 22, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Aug 24, 2026 |
| Barclays | Underweight | Underweight | Maintain | Aug 11, 2026 |
| DA Davidson | Neutral | Neutral | Maintain | Aug 6, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Aug 5, 2026 |
| Oppenheimer | Outperform | Outperform | Maintain | Aug 5, 2026 |
| Stephens & Co. | Equal Weight | Overweight | Downgrade | Jul 14, 2026 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Jul 9, 2026 |
| Bernstein | Market Perform | Market Perform | Maintain | Apr 21, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Feb 6, 2026 |
| Loop Capital | Hold | Hold | Maintain | Aug 4, 2025 |
| William Blair | Outperform | Market Perform | Upgrade | Mar 10, 2025 |
| Baird | Outperform | Neutral | Upgrade | Oct 16, 2024 |
| Erste Group | Hold | Buy | Downgrade | Jun 14, 2024 |
| UBS | Neutral | Neutral | Maintain | Mar 14, 2024 |
| Jefferies | Hold | Buy | Downgrade | Dec 20, 2023 |
| Atlantic Equities | Neutral | Overweight | Downgrade | Nov 15, 2022 |
| Wells Fargo | Underweight | Underweight | Maintain | Apr 29, 2022 |
| Raymond James | Market Perform | Outperform | Downgrade | Aug 2, 2021 |
| Deutsche Bank | Hold | Hold | Maintain | May 3, 2021 |
| Gordon Haskett | Hold | Underperform | Upgrade | Jul 9, 2020 |
| Longbow Research | Buy | Neutral | Upgrade | Jun 2, 2020 |
| Buckingham Research | Neutral | Neutral | Maintain | Feb 7, 2020 |
| Buckingham | Neutral | Neutral | Maintain | Feb 7, 2020 |
| Gabelli & Co. | Buy | Hold | Upgrade | Feb 3, 2020 |
| BMO Capital | Market Perform | Market Perform | Maintain | Apr 23, 2019 |
| Macquarie | Outperform | Neutral | Upgrade | Jan 15, 2019 |
| Stifel Nicolaus | Hold | Hold | Maintain | Apr 23, 2018 |
| Stifel | Hold | Hold | Maintain | Apr 23, 2018 |
| Credit Suisse | Underperform | Underperform | Maintain | Jan 25, 2018 |
| Northcoast Research | Neutral | Neutral | Maintain | Jul 25, 2017 |
| Goldman Sachs | Sell | Sell | Maintain | Apr 18, 2016 |
| Sterne Agee CRT | Buy | Buy | Maintain | Mar 22, 2016 |
| KeyBanc | Equal Weight | Sector Weight | Maintain | Dec 18, 2015 |
| Susquehanna | Neutral | Neutral | Maintain | Jul 21, 2015 |
| FBR Capital | Market Perform | Market Perform | Maintain | Oct 17, 2014 |
| Citigroup | Hold | Hold | Maintain | Apr 15, 2014 |
| Wunderlich Securities | Buy | Buy | Maintain | Jan 22, 2014 |
| Wunderlich | Buy | Buy | Maintain | Jan 22, 2014 |
| BB&T Capital | Hold | Buy | Downgrade | Mar 13, 2013 |
Named analyst price targets
Upside is calculated against the persisted current price $1,268.62. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Analyst unavailable | $1,400 | $1,322.05 | +10.4% | Aug 24, 2026 |
| Barclays | Guy Hardwick | $1,185 | $1,297.45 | -6.6% | Aug 11, 2026 |
| D.A. Davidson | Chris Dankert | $1,260 | $1,270.92 | -0.7% | Aug 6, 2026 |
| RBC Capital | Analyst unavailable | $1,428 | $1,304.06 | +12.6% | Aug 5, 2026 |
| Oppenheimer | Analyst unavailable | $1,375 | $1,300.45 | +8.4% | Aug 5, 2026 |
| Robert W. Baird | Analyst unavailable | $1,400 | $1,300.45 | +10.4% | Aug 5, 2026 |
| RBC Capital | Analyst unavailable | $1,460 | $1,389.73 | +15.1% | Jul 16, 2026 |
| Redburn Partners | William Blunt | $1,280 | $1,375.76 | +0.9% | Jul 13, 2026 |
| Barclays | Guy Hardwick | $1,166 | $1,341.42 | -8.1% | Jun 23, 2026 |
| D.A. Davidson | Analyst unavailable | $1,250 | $1,313.92 | -1.5% | Jun 15, 2026 |
| Morgan Stanley | Christopher Snyder | $1,300 | $1,249.22 | +2.5% | May 27, 2026 |
| Barclays | Analyst unavailable | $1,171 | $1,226.09 | -7.7% | May 12, 2026 |
| Stephens | Tommy Moll | $1,355 | $1,233.71 | +6.8% | May 11, 2026 |
| RBC Capital | Analyst unavailable | $1,337 | $1,222.84 | +5.4% | May 8, 2026 |
| Robert W. Baird | Analyst unavailable | $1,365 | $1,227.37 | +7.6% | May 8, 2026 |
| Bernstein | Analyst unavailable | $1,125 | $1,163.1 | -11.3% | Apr 21, 2026 |
| Oppenheimer | Analyst unavailable | $1,300 | $1,168.92 | +2.5% | Feb 4, 2026 |
| RBC Capital | Analyst unavailable | $1,207 | $1,168.06 | -4.9% | Feb 4, 2026 |
| Robert W. Baird | David Manthey | $1,245 | $1,155 | -1.9% | Feb 4, 2026 |
| Barclays | Guy Hardwick | $1,044 | $1,155 | -17.7% | Feb 4, 2026 |
| Oppenheimer | Analyst unavailable | $1,250 | $1,049.97 | -1.5% | Jan 27, 2026 |
| Wolfe Research | Analyst unavailable | $1,081 | $959.07 | -14.8% | Dec 9, 2025 |
| Morgan Stanley | Christopher Snyder | $1,100 | $938.52 | -13.3% | Nov 25, 2025 |
| Barclays | Analyst unavailable | $963 | $958.82 | -24.1% | Oct 7, 2025 |
| Loop Capital Markets | Analyst unavailable | $950 | $938.27 | -25.1% | Aug 4, 2025 |
| RBC Capital | Analyst unavailable | $1,007 | $938.27 | -20.6% | Aug 4, 2025 |
| Stephens | Analyst unavailable | $1,200 | $938.27 | -5.4% | Aug 4, 2025 |
| Wolfe Research | Analyst unavailable | $966 | $973.41 | -23.9% | Apr 3, 2025 |
| Loop Capital Markets | Analyst unavailable | $1,100 | $985.06 | -13.3% | Mar 5, 2025 |
| Robert W. Baird | David Manthey | $1,230 | $1,085.57 | -3.0% | Oct 16, 2024 |
| Bank of America Securities | Sabrina Abrams | $925 | $1,033.24 | -27.1% | Oct 7, 2024 |
| CFRA | Jonathan Sakraida | $950 | $1,000.52 | -25.1% | Sep 13, 2024 |
| Morgan Stanley | Christopher Snyder | $990 | $938.48 | -22.0% | Sep 6, 2024 |
| Robert W. Baird | David Manthey | $975 | $939.12 | -23.1% | May 29, 2024 |
| Loop Capital Markets | Chris Dankert | $975 | $929.26 | -23.1% | Apr 29, 2024 |
| Morgan Stanley | Analyst unavailable | $537 | $680.95 | -57.7% | Feb 3, 2023 |
| Morgan Stanley | Analyst unavailable | $490 | $552.48 | -61.4% | Jan 6, 2023 |
| UBS | Analyst unavailable | $695 | $594.56 | -45.2% | Nov 29, 2022 |
| Morgan Stanley | Joshua Pokrzywinski | $448 | $549.6 | -64.7% | Aug 1, 2022 |
| Morgan Stanley | Analyst unavailable | $448 | $549.52 | -64.7% | Aug 1, 2022 |
| RBC Capital | Deane Dray | $422 | $538.12 | -66.7% | Aug 1, 2022 |
| Stephens | Analyst unavailable | $600 | $537.16 | -52.7% | Aug 1, 2022 |
| Morgan Stanley | Analyst unavailable | $421 | $457.4 | -66.8% | Jul 15, 2022 |
| Morgan Stanley | Analyst unavailable | $449 | $483.6 | -64.6% | May 31, 2022 |
| Morgan Stanley | Analyst unavailable | $474 | $511.29 | -62.6% | Apr 29, 2022 |
| RBC Capital | Analyst unavailable | $450 | $514 | -64.5% | Apr 29, 2022 |
| Wells Fargo | Analyst unavailable | $475 | $514.93 | -62.6% | Apr 29, 2022 |
Track every rating change on GWW the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationW.W. Grainger, Inc. stands as a significant global supplier of maintenance, repair, and operating (MRO) supplies and related services. Its market presence spans several international regions, including the United States, Japan, Canada, and the United Kingdom. The company structures its operations into two principal divisions: High-Touch Solutions N.A. and Endless Assortment. Grainger's extensive product offerings cover essential categories such as safety and security provisions, equipment for material handling and storage, plumbing and pump components, cleaning and facility upkeep items, and…
Historical context
All GWW earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FPS Forgent Power Solutions, Inc. | FY2026 Q4 · Calendar Q3 2026 | +4.3% | +9.5% | Forgent Power Solutions pairs record results with an aggressive FY27 buildout |
| CPRT Copart, Inc. | FY2026 Q4 · Calendar Q3 2026 | -8.7% | -2.6% | Copart pairs international growth with ACV investment amid higher costs |
| SUNB Sunbelt Rentals Holdings Inc | FY2027 Q1 · Calendar Q3 2026 | +19.2% | +5.9% | Sunbelt raises FY27 outlook as specialty rental demand accelerates |
| FRO Frontline Plc | FY2026 Q2 · Calendar Q3 2026 | +8.0% | +1.0% | Frontline posts a record quarter as tanker rates remain elevated |
| DCI Donaldson Company, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1.8% | +2.1% | Donaldson posts record FY26 and targets further growth |
Latest beats and misses
Who reports nextBeat on EPS
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
- CASYFY2027 Q1 · September 8, 2026+8.7% EPS-14.2% move
Get the GWW recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-08-04T21:12:37.558512+00:00
- FN2 earnings calendar · 2026-09-09T01:23:14.388487+00:00
- Polygon adjusted daily market bars · 2026-09-22T22:10:53.341589+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-22T22:10:53.338881+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-22. For educational purposes only; not investment advice.