W.W. Grainger, Inc. (GWW) CEO Don Macpherson on Q1 2022 Results - Earnings Call Transcript

W.W. Grainger, Inc. (NYSE:GWW) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ET

Company Participants

Kyle Bland - Vice President of Investor Relations

Don Macpherson - Chairman & Chief Executive Officer

Dee Merriwether - Chief Financial Officer & Senior Vice President

Conference Call Participants

Jake Levinson - Melius Research

Ryan Merkel - William Blair

Nigel Coe - Wolfe Research

David Manthey - Baird

Josh Pokrzywinski - Morgan Stanley

Chris Snyder - UBS

Hans Hoffman - Jefferies

Deane Dray - RBC Capital Markets

Chris Dankert - Loop Capital

Christopher Glynn - Oppenheimer

Patrick Baumann - JPMorgan

Operator

Hello, and welcome to the W.W. Grainger First Quarter 2022 Earnings Conference Call and Webcast. [Operator Instructions] As a reminder, this conference is being recorded.

It is now my pleasure to turn the call over to Kyle Bland, VP, Investor Relations. Please go ahead.

Kyle Bland

Good morning. Welcome to Grainger's first quarter 2022 earnings call. With me are DG 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 table at the end of this presentation and in our Q1 earnings release, both of which are available on our IR website. This morning's call will focus on our first quarter 2022 results, which are consistent on both the reported and adjusted basis for all 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 U.S. GAAP, and is reported in our results 1 month in arrears. As a result, the numbers disclosed will differ somewhat from MonotaRO's public statements.

Now, I'll turn it over to DG.

Don Macpherson

Thanks, Kyle. Good morning, and thank you for joining us. Today, I'll provide an overview of our first quarter performance, and then pass it to Dee to walk through the financials in detail. I'll begin by quickly highlighting our strategic operating framework, the Grainger Edge.

I am proud of our team members as we embrace the edge at every level of the organization and in everything we do day in and day out. This framework serves as the basis for our culture and define how we work together to serve our customers and communities. I'm excited to share that earlier this month, we were recognized as one of Fortune 100's -- Fortune's 100 Best Companies to Work For. This award is attributed to team members across the organization.