W.W. Grainger, Inc. (GWW) Q3 2022 Earnings Call Transcript

W.W. Grainger, Inc. (NYSE:GWW) Q3 2022 Earnings Conference Call October 28, 2022 11:00 AM ET

Company Participants

Kyle Bland - Vice President, Investor Relations

D.G. Macpherson - Chairman & Chief Executive Officer

Dee Merriwether - Senior Vice President & Chief Financial Officer

Conference Call Participants

Tommy Moll - Stephens

David Manthey - Baird

Josh Pokrzywinski - Morgan Stanley

Jake Levinson - Melius Research

Deane Dray - RBC Capital Markets

Ryan Merkel - William Blair

Chris Snyder - UBS

Christopher Glynn - Oppenheimer

Patrick Baumann - JPMorgan

Nigel Coe - Wolfe Research

Operator

Greetings, ladies and gentlemen, and welcome to the W.W. Grainger Third Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note that this conference is being recorded.

I will now turn the conference over to our host, Kyle Bland, Vice President of Investor Relations. Thank you. You may begin.

Kyle Bland

Good morning. Welcome to Grainger’s third quarter 2022 earnings call. With me are D.G. Macpherson, Chairman and CEO; and Dee Merriwether, Senior Vice President and CFO.

As a reminder, some of our comments today may include forward-looking statements. Actual results may differ materially as a result of various risks and uncertainties, including those detailed in our SEC filings. Reconciliations of any non-GAAP financial measures with their corresponding GAAP measures are found in the tables at the end of this presentation and in our Q3 earnings release, both of which are available on our IR website.

This morning’s call will focus on our third quarter 2022 results, which are consistent on both a reported and adjusted basis for the respective quarterly periods presented. We will also share results related to MonotaRO. Please remember that MonotaRO is a public company and follows Japanese GAAP, which differs from US GAAP, and is reported in our results one month in arrears. As a result, the numbers disclosed will differ somewhat from MonotaRO’s public statements.

Now, I’ll turn it over to D.G.

D.G. Macpherson

Thanks, Kyle. Good morning. Thank you for joining us today. I'm going to provide an overview of our third quarter performance and I'll pass it to Dee to walk through the financials.

As I typically do, I'd like to start with our Grainger Edge framework, which guides our strategy and behaviors across the company and with our customer and supply partners.