2024-02-02 16:09:06 ET
WW Grainger, Inc. (GWW)
Q4 2023 Earnings Conference Call
February 02, 2024, 11:00 ET
Company Participants
Kyle Bland - VP, IR
Donald Macpherson - Chairman & CEO
Deidra Merriwether - CFO & SVP
Conference Call Participants
Ryan Merkel - William Blair & Company
Thomas Moll - Stephens Inc.
Jacob Levinson - Melius Research
Ken Newman - KeyBanc Capital Markets
Christopher Glynn - Oppenheimer
David Manthey - Robert W. Baird & Co.
Christopher Snyder - UBS
Nigel Coe - Wolfe Research
Deane Dray - RBC Capital Markets
Patrick Baumann - JPMorgan Chase & Co.
Presentation
Operator
Greetings. Welcome to the W.W. Grainger Fourth Quarter 2023 Earnings Conference Call. [Operator Instructions].
I will now turn the conference over to Kyle Bland, Vice President of Investor Relations. Thank you. You may begin.
Kyle Bland
Good morning. Welcome to Grainger's Fourth Quarter and Full Year 2023 Earnings Call. With me are D. G. Macpherson, Chairman and CEO; and D. Merriwether, Senior Vice President and CFO. As a reminder, some of our comments today may include forward-looking statements that are subject to various risks and uncertainties. Additional information regarding factors that could cause actual results to differ materially is included in the company's most recent Form 8-K and periodic reports filed with the SEC. This morning's call will focus on our adjusted earnings for the fourth quarter and full year 2023, which excludes the loss on the divestiture of our E&R Industrial sales subsidiary. We have also included a daily organic constant currency growth metric to normalize for the impact on revenue. Definitions and full reconciliations of these non-GAAP financial measures with their corresponding GAAP measures are found in the tables at the end of this presentation and in our earnings release, both of which are available on our IR website.
We will also share results related to MonotaRo. Please remember that MonotaRO was a public company and followed Japanese GAAP, which differs from U.S. GAAP, and as reported in our results one month in arrears. As a result, the numbers disclosed will differ from Monotaro's public statements.
Now I'll turn it over to D.G.
Donald Macpherson
Thanks, Kyle. Good morning, and thanks for joining the call. In 2023, the Grainger team continued to drive our strategy forward. by remaining focused on what matters most, providing our customers with a great experience and exceptional service. The customers we serve play a vital role in keeping their businesses and institutions running and everything we do is focused on making their jobs easier. We made meaningful progress this year in building new capabilities in both segments to help our customers and team members support the work they do. We've done this by investing in technology, our supply chain network and our High-Touch growth engines to ensure we can provide the best experience as possible. ...
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WW Grainger, Inc. (GWW) Q4 2023 Earnings Call Transcript