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Grainger (GWW) Plans to Open Distribution Center in Oregon
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W.W. Grainger, Inc. (GWW - Free Report) announced plans to start a 500,000-sq-ft distribution center in Gresham, OR, in 2025 to improve customer service throughout the Pacific Northwest.
The new highly automated distribution center will provide the company with additional capacity to continue delivering next-day complete orders across the United States.
Grainger intends to construct the facility on a vacant 48-acre parcel of land in an industrial area of Gresham, some 16 miles from Portland. Construction is expected to begin this summer.
This new center follows Grainger's existing 10 offices in the Pacific Northwest states of Oregon, Washington, Idaho and Montana.
The Northwest Distribution Center will include more than 135,000 industrial supply items, such as hand and power tools; heating, ventilation and air conditioning (HVAC) equipment; and fluid power solutions. It will also house lighting, power transmission equipment and motors.
When fully operational, the new plant will employ about 80 team members. Grainger anticipates the number to be eventually more than 150.
Moreover, the company is establishing two bulk warehouses in Pennsylvania and Texas in September, and a third in North Carolina in 2024. This will be done in sync with Grainger’s intention to improve network operations, accommodate a greater product offering and serve more customers.
In first-quarter 2023, the company reported strong results in the High-Touch Solutions N.A. and Endless Assortment segments. It reported earnings per share of $9.61, beating the Zacks Consensus Estimate of $8.57. The bottom line improved 36% year over year, aided by margin improvement in the High-Touch Solutions N.A. and Endless Assortment segments, and a strong operating performance.
Grainger’s quarterly revenues rose 12.2% year over year to $4,091 million. The top line surpassed the Zacks Consensus Estimate of $4,061 million.
Price Performance
In the past year, Grainger’s shares have gained 71% compared with the industry’s growth of 39.1%.
Worthington Industries has an average trailing four-quarter earnings surprise of 14.9%. The Zacks Consensus Estimate for WOR’s fiscal 2023 earnings is pegged at $5.65 per share. The consensus estimate for 2023 earnings has moved north by 22.6% in the past 60 days. Its shares gained 57.9% in the last year.
Manitowoc has an average trailing four-quarter earnings surprise of 256.3%. The Zacks Consensus Estimate for MTW’s 2023 earnings is pegged at $1.12 per share. The consensus estimate for 2023 earnings has moved 7.8% north in the past 60 days. MTW’s shares gained 88.3% in the last year.
The Zacks Consensus Estimate for OI Glass’ 2023 earnings per share is pegged at $3.19. The consensus estimate for 2023 earnings rose 0.6% in the last 60 days. OI has a trailing four-quarter average earnings surprise of 16.5%. Its shares gained 84.1% in the last year.
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Grainger (GWW) Plans to Open Distribution Center in Oregon
W.W. Grainger, Inc. (GWW - Free Report) announced plans to start a 500,000-sq-ft distribution center in Gresham, OR, in 2025 to improve customer service throughout the Pacific Northwest.
The new highly automated distribution center will provide the company with additional capacity to continue delivering next-day complete orders across the United States.
Grainger intends to construct the facility on a vacant 48-acre parcel of land in an industrial area of Gresham, some 16 miles from Portland. Construction is expected to begin this summer.
This new center follows Grainger's existing 10 offices in the Pacific Northwest states of Oregon, Washington, Idaho and Montana.
The Northwest Distribution Center will include more than 135,000 industrial supply items, such as hand and power tools; heating, ventilation and air conditioning (HVAC) equipment; and fluid power solutions. It will also house lighting, power transmission equipment and motors.
When fully operational, the new plant will employ about 80 team members. Grainger anticipates the number to be eventually more than 150.
Moreover, the company is establishing two bulk warehouses in Pennsylvania and Texas in September, and a third in North Carolina in 2024. This will be done in sync with Grainger’s intention to improve network operations, accommodate a greater product offering and serve more customers.
In first-quarter 2023, the company reported strong results in the High-Touch Solutions N.A. and Endless Assortment segments. It reported earnings per share of $9.61, beating the Zacks Consensus Estimate of $8.57. The bottom line improved 36% year over year, aided by margin improvement in the High-Touch Solutions N.A. and Endless Assortment segments, and a strong operating performance.
Grainger’s quarterly revenues rose 12.2% year over year to $4,091 million. The top line surpassed the Zacks Consensus Estimate of $4,061 million.
Price Performance
In the past year, Grainger’s shares have gained 71% compared with the industry’s growth of 39.1%.
Image Source: Zacks Investment Research
Zacks Rank and Other Stocks to Consider
Grainger currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the Industrial Products sector are Worthington Industries, Inc. (WOR - Free Report) , The Manitowoc Company, Inc. (MTW - Free Report) and OI Glass Inc. (OI - Free Report) . WOR and MTW flaunt a Zacks Rank #1 (Strong Buy) at present, and OI has a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Worthington Industries has an average trailing four-quarter earnings surprise of 14.9%. The Zacks Consensus Estimate for WOR’s fiscal 2023 earnings is pegged at $5.65 per share. The consensus estimate for 2023 earnings has moved north by 22.6% in the past 60 days. Its shares gained 57.9% in the last year.
Manitowoc has an average trailing four-quarter earnings surprise of 256.3%. The Zacks Consensus Estimate for MTW’s 2023 earnings is pegged at $1.12 per share. The consensus estimate for 2023 earnings has moved 7.8% north in the past 60 days. MTW’s shares gained 88.3% in the last year.
The Zacks Consensus Estimate for OI Glass’ 2023 earnings per share is pegged at $3.19. The consensus estimate for 2023 earnings rose 0.6% in the last 60 days. OI has a trailing four-quarter average earnings surprise of 16.5%. Its shares gained 84.1% in the last year.