W.W. Grainger, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company reported sales of $2.2 billion increased 7% versus $2.1 billion in the 2011 fourth quarter. Net earnings of $156 million increased 5% versus $148 million in 2011. Fourth quarter diluted earnings per share of $2.17 increased 6% versus $2.04 in 2011. Earnings before income taxes were $253,827,000 against $226,078,000 a year ago. Net earnings attributable to common share holders was $153,562,000 against $145,760,000 a year ago. Capital expenditures were $95 million against $66 million in 2011. Operating cash flow was $240 million against $186 million in 2011. The company used the cash generated to invest in the business, fund an acquisition and return cash to shareholders through share repurchase and dividends.

For the year, the company reported net sales of $8,950,045,000 against $8,078,185,000 a year ago. Earnings before income taxes were $1,117,789,000 against $1,051,527,000 a year ago. Net earnings available to common shareholders were $677,700,000 against $645,769,000 a year ago. Diluted earnings per share were $9.52 against $9.07 a year ago. Net cash provided by operating activities was $816,195,000 against $746,108,000 a year ago. Additions to property, buildings and equipment were $249,860,000 against $196,942,000 a year ago. Capital expenditures for the year were $250 million against $197 million in 2011, driven primarily by investments to expand the distribution center network in North America.

The company reiterated its 2013 earnings per share guidance of $10.85 to $12.00 and raised its 2013 sales guidance to a new range of 3% to 9% growth. The company's previous 2013 sales guidance was 2% to 8% growth issued on November 14, 2012. The increase in sales guidance reflects the December 31, 2012, acquisition of Techni-Tool, Inc. which had sales in 2011 of $88 million. The company is currently projecting an effective tax rate of 37.3% to 37.7% for the year 2013.