W.W. Grainger, Inc. announced unaudited consolidated earnings results for fourth quarter and full year ended December 31, 2016. For the quarter, the company reported Net sales of $2,470,710,000 against net sales of $2,478,258,000 a year ago. Operating earnings was $174,229,000 against operating earnings of $251,626,000 a year ago. Interest income was $243,000 against interest income of $232,000 a year ago. Earnings before income taxes were $145,309,000 against earnings before income taxes of $234,933,000 a year ago. Net earnings attributable to the company were $60,666,000 against net earnings attributable to the company of $145,232,000 a year ago. Diluted per share was $1.01 against diluted per share was $2.32 a year ago. Operating earnings decrease was driven by the flat sales, restructuring costs, other charges and a lower gross profit margin. 

For the period, the company reported Net sales of $10,137,204,000 against net sales of $9,973,384,000 a year ago. Operating earnings was $1,119,497,000 against operating earnings of $1,300,320,000 a year ago. Interest income was $717,000 against interest income of $1,166,000 a year ago. Earnings before income taxes were $1,019,058,000 against earnings before income taxes of $1,250,705,000 a year ago. Net earnings attributable to the company were $605,928,000 against net earnings attributable to the company of $768,996,000 a year ago. Diluted per share was $9.94 against diluted per share was $11.69 a year ago. Net cash provided by operating activities of $1,002,976,000 against net cash provided by operating activities of $989,904,000 a year ago. Additions to property, buildings and equipment were $284,249,000 against additions to property; buildings and equipment were $373,868,000 a year ago.

The company reiterated its 2017 sales and earnings per share guidance issued on November 11, 2016, and continue to expect 2% to 6% sales growth and earnings per share of $11.30 to $12.40 for 2017.  The company is currently projecting a tax rate of 36.0% to 37.0% for 2017, unchanged from the prior projection on November 11, 2016.

The company reported goodwill and intangible impairment was $52,318,000.