Highlights include:
- Net sales increased 10.7%, from
$1.53 billion in Q4 2021 to$1.69 billion in the quarter endingDec. 31, 2022 . -
Net earnings rose 6.2%, from
$231.2 million to$245.6 million in the comparative quarters. -
Diluted EPS rose 7.1%, from
40 cents to43 cents in the comparative quarters. - The company experienced higher unit sales in the fourth quarter of 2022, which contributed to the increase in net sales in the period due to further growth in underlying demand in markets tied to industrial capital goods and commodities.
- The overall impact of product pricing on net sales in the fourth quarter of 2022 was 350 to 380 basis points, as compared with the fourth quarter of 2021, due to actions taken over the past 12 months which were intended to mitigate the impact of marketplace inflation for products — particularly fasteners and transportation services.
- The company did not take any broad pricing actions in the fourth quarter of 2022, and price levels in the market remained stable.
- The company signed 62 onsite locations in the fourth quarter of 2022, resulting in full-year signings of onsite locations of 356.
- Spot prices in the marketplace for many inputs — particularly fuel, transportation services and steel — moderated over the last six months.
-
Net sales jumped 16.1%, from
$6.01 billion in 2021 to$6.7 billion in 2022. -
Net earnings rose from
$950 million in 2021 to$1.08 billion in 2022. -
Diluted EPS jumped 17.8%, from
$1.60 to$1.89 in the comparative years. -
The company declared a quarterly dividend of
35 cents per share, a 12.9% increase over the prior31-cent dividend, payableMarch 2 to shareholders of recordFeb. 2 .
Shares traded today at
The
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