Fortune partnered with Great Place to Work to analyze survey feedback representing more than 60,000 U.S. employees.

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Employees say:"Grainger actually works and lives by our principles: Start with the customer, embrace curiosity, act with intent, compete with urgency, win as one team, invest in our success and do the right thing. &nbsp;They come together to support one another, even those we've never met. &nbsp;I've loved working for this company for over 16 years and hope to remain with the company throughout my professional career."

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DEI-BRG

Employees say:"Our CEO not only lives our core principles but ensures that we hold strong to those principles no matter the political or economic climate. I have worked for corporate companies prior to Grainger, and the overall feeling of connectiveness to each other, to community, and to self, is one that I had not experienced prior. I feel at home with Grainger."

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2025 Best Large Workplaces for Women_W.W. Grainger, Inc._US1__68a71dfc383bc91cadd06a7f_6

Employees say:"The team culture is unmatched! Everyone is welcoming, willing to step out of their way to help you, and you can always assume good intent from others. Additionally, our leadership strongly values the differences of its team members—above and beyond anything I've seen from other organizations—by ensuring an open space for them to be themselves at work and celebrate the things that make them unique and special."

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Fortune partnered with Great Place to Work to analyze survey feedback representing nearly 62,000 U.S. employees.

Best Workplaces_Chicago_Large_2025-Grainger_US1__67fd6226d94556dd4465c985_2

Employees say:"For me Grainger is an amazing place to work. I can honestly say that both my team and manager care about me, they want to see me succeed at work and my personal life. My team is like an extension of my family. There are so many opportunities for employees here at Grainger—you can move up, move over, or move around to find that position that works best for you. My job/career means a lot to me, and this is where I plan to work until I retire. I tell my friends and family how great it is here and if they are ever looking for a new career/job to come work here because they will also love it as much as I do."

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GPTW-Millennials-Large-2024-Grainger

Employees say:"Our culture is one that is very special and not like other places I've worked. From our opportunities for advancement, a culture of recognition, individual team cultures, the collaborative nature, the focus on DEI, BRG involvement, and volunteer opportunities, it's my home."

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GPTW 2024 Chicago Large-Grainger_US1__20240410151431_3

Employees say: "Everyone here makes you feel like you are family - This is something the other companies "try" to achieve but Grainger makes it happen from the get-go. I am VERY proud and blessed to be working with my Grainger Family."

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Grainger is the country’s leading distributor of maintenance, repair, and supplies for industries like hardware, lighting, and plumbing. Established in 1927, the company now operates the 11th largest online e-commerce site by revenue. &nbsp;Grainger is building two new distribution centers in the U.S., and is adding 3.5 million square feet to its supply chain network for a more than 35% increase in overall warehouse space. &nbsp;In 2022, the company trained all of its team members in a DEI learning course, focusing on unconscious bias and how it emerges in day-to-day work. It aims to have half of its senior leadership roles filled by women by 2030. Currently, its CEO’s leadership team is 43% women while 29% is racially diverse.&nbsp;

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100 BEST COMPANIES 2023-Grainger

This long-standing industrial supply company is adapting to the changing times with an emphasis on diversity. 
<ul> 
 	<li>In the last year, Grainger implemented a technology tool to remove noninclusive language from over 400 job postings; after the revisions went live, the pool of female applicants increased by 15%.</li> 
 	<li>A mandatory e-learning course for leaders tackles unconscious bias, including how it may emerge in day-to-day work and behaviors for managing it.</li> 
 	<li>Senior leadership values transparency, holding monthly calls with all employees to address questions ranging from business operations questions to U.S. Supreme Court decisions to employee compensation.</li> 
 	<li>“Every team member I have encountered during my time at Grainger so far is caring and willing to help each individual succeed,” said one worker. “You are welcomed with open arms, work together as one team, and [colleagues are] willing to help you develop professionally and personally.”</li> 
</ul>

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GPTW Chicago 2023-Grainger

Employees say: 
 
"Grainger does a fantastic job of making sure everybody is able to show up as their true selves. There are multiple BRGs that people can join to feel more connected and informed. Grainger also does a really awesome job of supporting individuals' desires to grow professionally, and offers numerous courses that you can take to grow in your skillset while gaining new knowledge."

GPTW Women 2023-Grainger

Employees say: 
 
"Grainger is the best company I've ever worked for. They go above and beyond to be inclusive to all of our team members. They genuinely seek out feedback from their team members and actually take action on that feedback whenever possible. We're provided more benefits than most other companies and are also paid fairly for the work we do."

Fortune partnered with Great Place to Work to analyze survey feedback representing nearly half a million U.S. employees.

GPTW Millennial Large 2023-Grainger

Employees say: 
 
"Senior leadership invests a lot of time in being transparent about the company’s direction. They strive to foster an inclusive environment, and they genuinely care about the employees. This culture has led to a stronger frontline leadership team. That makes all the difference in wanting to remain with Grainger and knowing it is a great place to work!"

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100-Best-2022-Grainger

This industrial supplies company has appeared on the Best Companies list five times thanks to its emphasis on employee training and its focus on corporate inclusivity. From each team member’s first day, Grainger offers a variety of professional learning opportunities, skills training courses, and leadership programs. Employees spent an average of six hours last year on these supplemental trainings. “I feel that the company never lacks development opportunities,” says one staffer. “It is a main focus of every manager I have worked with so far, having been offered the opportunity to participate in classes and get involved with projects that align to my interests.” Additionally, the company is invested in its diversity efforts, conducting pay equity audits each year and aiming for 50% of its leadership team to be women by 2030.

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GPTW Chicago Large 2022-Grainger

Employees say: 
 
“They provide tremendous resources that encourage growth and development—leaders want us to succeed. The company authentically celebrates and champions diversity, inclusion, and equality. The company also memorialized a 10-year commitment to reduce greenhouse gas emissions.” 
 
Read the Great Place to Work review .

GPTW Women 2022-Grainger

Employees say: 
 
“Grainger is unique in that it celebrates all of its employees, all the way from the CEO to the warehouse team members. Everybody is represented and respected here. The pay is above average, not just for the industry but in general. The benefits offered are excellent and add great value to working here. Grainger values talent and ideas at all levels and in my experience has made great strides in growing based on ideas from Team Members or management. There is a great potential for growth within Grainger and I would highly recommend it to anyone looking for a career to grow into.”

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Typically selling to other businesses rather than retail, the supply company sells industrial tools and equipment for heavy machinery, plumbing, tools, and other business needs.

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The industrial supply company distributes maintenance, repair, and operating equipment to businesses around the world.

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Wal-Mart stayed on top as its sales crept closer to half-a-trillion dollars. Apple moved into the top five. And UnitedHealth Group continued its steady climb. 

Best Companies

Rank last year

Years on list

U.S. employees

U.S. job openings

Year founded

Benefits

Subsidized childcare

Compressed work weeks

Option to work remotely

Minimum requirement in-office attendance (days per week)

Mental health coverage

Free mental health sessions (per year)

Free backup childcare time off (days)

Maximum $ amount covered for fertility services

Fully paid maternal leave (days)

Fully paid paternal leave (days)

Fully paid adoptive leave (days)

Maternal leave in addition to regular time off (days)

Paid days off for volunteering

Best Workplaces For Women

Industry Vertical

Founded

# Work Sites

Sector

Industry

Current All-Star Rank

Previous All-Star Rank

Industry Rank

Previous Industry Rank

Overall Score

Innovation

People Management

Use of Corporate Assets

Social Responsibility

Quality of Management

Financial Soundness

Long-Term Investment Value

Quality of Products/Services

Global Competitiveness

Strongest Dimension

Previous rank

State

Key Financials (last Fiscal Year)

Revenues ($M)

Profits ($M)

Assets ($M)

Total Stockholder Equity ($M)

Profit Ratios

Profit as % of Revenues

Profits as % of Assets

Profits as % of Stockholder Equity

Earnings Per Share (last Fiscal Year)

Earnings Per Share ($)

EPS % Change (from prior fiscal year)

EPS % Change (5 year annual rate)

EPS % Change (10 year annual rate)

Total Return

Total Return to Investors (last year)

Total Return to Investors (5 year, annualized)

Total Return to Investors (10 year, annualized)

Best Workplaces In Chicago

Sites

Grainger is an industrial-supply distribution company, focused on safety, security, and storage equipment, along with cleaning, metalworking, and hand tools. As of 2025, it offers over 30 million products to some 4.5 million customers worldwide, but its services are primarily in North America, Japan, and the United Kingdom. The company was founded in 1927.

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W.W. Grainger (GWW): Company Profile, Stock Price, News, Rankings

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W.W. Grainger

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Greetings, and welcome to the W W Grainger Third Quarter 2026 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It's now my pleasure to introduce Kyle Bland, Vice President, Investor Relations. Thank you. You may begin.

Good morning. Welcome to Grainger's Third Quarter 2026 Earnings Call. With me are D.G. Macpherson, Chairman and CEO, and Laurie Thomson, Vice President and Interim 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 other periodic reports filed with the SEC. This morning's call will focus on our non-GAAP adjusted results for the third quarter of 2026, which exclude transaction-related costs associated with the technology acquisition we completed in the period. We have also included organic revenue adjustments in the presentation, which normalize sales growth to reflect our exit from the U.K. market, including the Cromwell divestiture and the closure of Zoro UK, both of which were completed in the fourth quarter of 2025.

Definitions and full reconciliations of our 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 is a public company and follows Japanese GAAP, which differs from U.S. GAAP and is reported in our results one month in arrears. As a result, the numbers discussed will differ from MonotaRO's public statements. With that, I'll turn it over to D.G.

Thanks, Kyle. Good morning, everyone, and thanks for joining today. In the third quarter, the Grainger team continued to execute at a high level with a clear focus on delivering the products and solutions our customers need. This led to strong growth and profitability in both the High-Touch Solutions and Endless Assortment segments. We continue to see an improving demand environment and delivered growth across all major end markets. We know that when we focus on what matters most to our customers, we perform well and gain share. Our team remains focused on simplifying our customers' buying journey and providing value inside customer operations through our expertise and suite of technology and on-site solutions. A great example of this is the technology acquisition we made this past quarter to enhance our inventory management capabilities for customers in the High-Touch Solutions segment.

This new technology uses computer vision and AI to enable real-time inventory tracking and frictionless checkout to help customers reduce labor needs and operating costs. We are in the process of piloting this technology while also integrating it into our ecosystem. We are encouraged by the potential it presents to help differentiate the service that Grainger provides. Beyond starting with the customer, our Grainger Edge principles emphasize doing the right thing, and we take that responsibility to heart in the communities that we serve. Last month, at our fifth annual Bucket Build, team members filled five-gallon buckets with Grainger-provided cleaning supplies and hand tools, completing over 4,000 kits. These kits will be distributed across the U.S. to help with recovery efforts after natural disasters.

Grainger has a longstanding commitment to emergency preparedness and response efforts, and it is truly a privilege to see our team play a role in helping to keep the world working. Now, turning to our third quarter results. We delivered another quarter of strong growth and profitability, underpinned by execution across both segments and buoyed by continued demand strength in the underlying MRO market. Total company results for the quarter include sales growth of 14.9% on a daily organic constant currency basis, strong operating margins at 16.1%, and diluted EPS over 22%. Operating cash flow came in at $661 million, allowing us to return a total of $396 million to Grainger shareholders through dividends and share repurchases. Overall, it was a very strong quarter. With the continued momentum we are seeing across the business, we are increasing our 2026 earnings outlook and remain on track to deliver an exceptional year.

With that, I will turn it over to our Interim CFO, Laurie Thomson, for a closer look at our financials from the quarter.

Thanks, D.G., and good morning, everyone. Starting on slide seven, you can see the high-level results we had in the third quarter, with total company sales up 11.3%, or 14.9% on a daily organic constant currency basis. Gross margin for the quarter finished at 38.8%, up 20 basis points versus the prior year period, as expansion in Endless Assortment was partly offset by slight compression in the High-Touch Solutions segment. Operating margin was 16.1%, up 90 basis points year-over-year, as gross margin flow-through and leverage in both segments contributed to results. Both gross margin and operating margin also benefited from our prior year exit of the U.K. market. Overall, results were strong for the quarter, and we delivered diluted EPS of $12.54, which was up over 22% versus the prior year period.

Moving to segment-level results, the High-Touch Solutions segment delivered sales growth of 13.8% on both a reported and daily constant currency basis. Results were driven by double-digit volume growth and healthy price contribution to revenue. From an end market perspective, MRO demand continues to trend positively. For Grainger specifically, all major end markets were up year-over-year, with strong contributions from our largest segments, as well as growth in industries exposed to data centers. This shows up most notably in our retail, commercial services, and contractor end markets. On profitability, gross profit margin finished the quarter at 40.8%, down 30 basis points versus the prior year, largely due to continued freight headwinds alongside slightly negative mix from project-related spend.

We also received a small IEEPA tariff refund benefit in the quarter, which was largely offset by an inventory write-off for products damaged during the fire at our Louisville distribution center. Price cost was roughly neutral during the quarter. On SG&A, we gained nice leverage year-over-year as we benefited from strong sales and productivity. This more than offset continued marketing investment and higher payroll and benefits expense, including higher incentive-based compensation given our strong results. Taking all of this together, operating margin for the segment finished at 17.3%, up 10 basis points versus the prior year quarter. Now focusing on the Endless Assortment segment. Sales increased 11.9% on a reported basis, or 19.3% on a daily organic constant currency basis, which normalizes for the closure of our Zoro UK business and adjusts for the impact of the depreciated Japanese yen.

Zoro US was up 25.2% on a daily basis, while MonotaRO achieved 13.6% growth in local days, local constant currency. At a business level, Zoro saw very strong growth led by core B2B customers and improving customer retention rates. We are continuing to gain traction with customers as we remain focused on improving the assortment, digital experience, pricing, and delivery. At MonotaRO, sales growth remained healthy despite some sequential pre-buying headwinds coming out of the second quarter. We continue to see momentum with enterprise customers and solid repeat purchasing from core B2B customers. On profitability, operating margins increased by 190 basis points to 11.7% with favorability across the segment. MonotaRO margins were strong at 14.3%, up 110 basis points, and Zoro margin improved to 8.4%, up 260 basis points, with both businesses benefiting from strong gross margin flow-through and healthy top-line leverage.

Overall, another great quarter for the Endless Assortment team. Before moving into guidance, I wanted to share a brief update on the inflationary environment. In the third quarter, we remained engaged with our supplier partners and used our September price increases to help offset continued inflationary pressure from rising freight and product costs due to the conflict in the Middle East. While our September pricing actions covered the majority of known cost increases at the time, we have since seen continued diesel price fluctuations, and we will be taking these headwinds into consideration as we plan our pricing actions for early next year. Despite the continued freight pressure, we still expect a larger-than-normal sequential improvement in gross margins in the fourth quarter as we benefit from heightened supplier rebates due to our strong top-line performance for the year.

Looking ahead, we will continue to monitor the inflationary environment and remain confident in executing on our core pricing tenets, maintaining market-relevant pricing while achieving price-cost neutrality over time. Moving to the updated outlook for the remainder of 2026. As D.G. mentioned at the beginning of the call, we are increasing our full-year 2026 earnings outlook to reflect our third-quarter strength and the continued momentum we are seeing across the business. The updated guide includes daily organic constant currency sales growth of between 13% and 14.5% for the full year and a diluted adjusted EPS range of $47-$48. Annual margin expectations have increased slightly from our previous guide, as our Q3 outperformance is partly offset by incremental cost pressures in the fourth quarter.

With this, our new full-year operating margin guide of 16%-16.2% is up 100 to 120 basis points year-over-year, an increase of 10 basis points versus our prior guide at the midpoint. The fourth quarter is off to a strong start with preliminary October sales growth of approximately 18% on a daily organic constant currency basis, aided by the lap of the 2025 government shutdown. We expect sales growth to normalize throughout the quarter as we face much more difficult compares and lap early November pricing actions from the prior year. In total, we anticipate fourth-quarter sales north of $4.9 billion, or up over 14% at the midpoint on a daily organic constant currency basis. If you squeeze the annual guide, you will see fourth-quarter gross margins of around 39.6% at the midpoint, which reflects larger-than-normal sequential improvement as heightened supplier rebates more than offset continued freight pressure.

This sequential gross margin step-up helps partly offset normal seasonal deleverage, resulting in implied operating margins in the fourth quarter of around 15.5% at the midpoint. This outlook includes incremental fourth-quarter costs for continued incentive-based compensation headwinds, as well as integration and operating costs as we scale the technology acquisition we completed in August. Lastly, you will also see that we have updated our effective tax rate and cash flow projections, which are included in the appendix of the earnings presentation. With that, I will now hand it back over to D.G. for his closing remarks.

Thanks, Laurie. To wrap things up, the business is performing well. We are executing on our growth engines, managing through inflation, and providing strong customer service in a growing demand environment. As I mentioned earlier, when we focus on things that matter most to our customers, we perform well and we gain share. I am confident we are focused on the right things and are making the investments necessary to help our customers solve their MRO challenges and to drive continued strong returns for our shareholders. And with that, we will open it up for Q&A.

Thank you. At this time, we will conduct the question-and-answer session. To ask a question, press star one on your telephone keypad. A confirmation tone will indicate that your line is in the question queue. You may press star two if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. One moment, please, while we poll for questions. Your first question comes from David Manthey with Baird. Please state your question.

Yeah. Thank you. Good morning, everyone. I really appreciate how tight you guys keep your introductory comments. I think it's fantastic, so thank you for that. First off, on that gross margin, thanks for the outlook there. Could you talk about the difference between High-Touch Solutions and Endless Assortment? Is it more in one or the other, or pretty equally impactful across the two?

When you say gross margin, are you speaking about Q3 or for the guide?

The guidance for Q4. I'm just wondering, as we look at that sequential progression, High-Touch Solutions, depending on what year you look at, it could be 50 basis points, it could be 90 basis points, but this seems a little more than that.

Sure, yeah. As we think about the implied guidance for Q4, you'll see that most of the impact there from Q3 to Q4 is related to some supplier rebate favorability, which we'll see in the High-Touch Solutions business. You're right, most of it fits in High-Touch Solutions, along with the better price cost that we'll see from our 9/1 pricing actions, that also is sitting in the High-Touch Solutions area. Then also, we do have some freight pressure that will get us to an implied Q4 gross margin of about 39.6% at the midpoint.

Okay, thank you. That's very helpful. As a follow-up on the High-Touch Solutions North America, given the incentive comp comments, I guess at this point of 2026, we should assume that the levels of incentive comp are past the reset point. I think with the first move up in demand and when revenues accelerate, typically there's a reset in those incentive compensation bars. It seems like we're past that. The question is really, as we look forward and we think about how SG&A flexes with revenues, we should be more normal from here forward, based on that level having been reset already. Is that correct?

No. We are at a point where we've had obviously a stronger market than we expected and stronger performance than we expected, and the combination has put us in an area of the curve that there's still going to be some incremental in the fourth quarter, and then that'll reset as the year starts. This year, there's going to be a big negative in terms of SG&A from incentive comp. Of course, that will reset next year. It's a positive for the team.

Your next question comes from Jacob Levinson with Melius Research. Please state your question.

Welcome, Laurie. I echo David's comments as well. We always appreciate the shorter remarks.

My first question, I think on Endless Assortment, it seems like that business is really starting to scale out nicely. D.G., maybe you can just speak to, we just reached a tipping point in terms of the size of that business, and you've already made all these investments in infrastructure and brand awareness and whatnot, so we should expect the operating leverage to look pretty similar from here?

Yeah, I would say that MonotaRO in Japan has been probably past that point for a while and is relatively mature, continues to show nice growth. I think you're probably mostly referring to Zoro, which has done a really nice job the last couple of years of thinking hard about acquiring the right customers, getting repeat rates up, and building a business that can really scale and be profitable. Yeah, I think we are going to see that continue for the next several years as we continue to improve our marketing capabilities, our pricing capabilities, our delivery capabilities. So, very bullish about where the business is and where it's headed, and that should just continue to get better.

Okay. That's helpful. Just on a different note, this technology acquisition that you made in the quarter, it'd be helpful to just get some more context there. Is it something that you were already using or more of an opportunistic situation that came along?

Yeah. So, we had already been testing the technology with a customer or two. If you want to think about it, we obviously, winning inside customers' operations, inventory management, KeepStock is really critical to us. This is basically a technology that allows us to help customers with operating costs, with inventory tracking, by having a system of weights and cameras and software that basically allows you to have a frictionless process where customers could just go into a bin area, pick what they want, and walk away, and it is all tracked. The idea is that we are going to build that into our core processes over the next year or so. It will be more of a technology acquisition, an asset acquisition that helps us grow over time.

There is going to be modest integration and operating costs, probably 10-15 basis points over the next several quarters that go with that. But we are really excited about the ability to have a better solution for our customers, be able to differentiate our service for our customers.

Sounds interesting. Thank you, D.G. I will pass it on.

Your next question comes from Christine Yao with Morgan Stanley. Please state your question.

Hey, good morning. Thank you. High-Touch volume was up about 10% in the quarter, accelerated from Q2 level. You pointed to maybe data center exposed end market, like retail contractors were pretty strong this quarter. I remember last quarter, you helped size projects at about 90 basis points of High-Touch growth. How much was that it this quarter, and how much of the rest is contract wins and share versus the market? I guess, is there any seasonality in those end markets into year-end?

Yeah. Projects continue to be a tailwind, not quite as big as the 90 basis points that we had last quarter, but still a tailwind. I think the bigger issue to probably highlight is there's just two things. One is, the market continues to improve. Certainly, a big part of that market is related to data center and power generation. We see that show up through, when we say retail, it's typically sort of pseudo-retail, retail organizations that have direct control of data centers. That's where most of the project spend is coming through direct relationships there. We're also seeing a lot of the growth show up in terms of contractors, and particularly contractors serving those data centers and power generation projects.

You see that in some of our branches that are close to those areas are seeing really, really steep growth, as an example. We also see that show up in manufacturing. It's tough to size how much of the market acceleration is data centers, but if I were guessing, I'd say it's quite a bit, given the ecosystem that it sort of has. In terms of our share gain, a lot of that's new contracts and contract execution, and that has been very strong through the year as well.

Just quickly to add on, to answer the question about the impact on margin, the project-based revenue has about a 10 basis point drag on margin.

As a follow-up on margin side of the things, Endless Assortment delivers strong growth and 90 basis points gross margin improvement. Can you help me understand how much of that profitability improvement is structural versus lower customer acquisition fulfillment or some other costs?

Yeah. I think all of it has to do with the business focusing on getting the right acquisitions and using the right products and marketing to get high-quality acquisitions. That's a big part of it, and then some pricing actions they've taken. So, it's basically acquiring the right customers, not having to discount as much to do that, and then turning those customers into frequent buyers. A bigger portion of the business is becoming really consistent buying customers now, and that actually helps that margin too.

Your next question comes from Ken Newman with KeyBanc Capital Markets. Please state your question.

Hey, good morning, guys. Thanks for taking the question.

First, morning. Laurie, appreciate the color on the inflationary factors impacting operating margin here in the fourth quarter. Curious, from a higher level perspective, is there a way to help us bridge the various buckets, whether it's incentive comp or acquisition costs or transportation costs, that are in terms of the magnitude of what's driving that year-over-year decline?

Sure. If we look at the operating margin from Q3 to Q4, you'll see that gross margin's going to improve sequentially, like I discussed earlier, about 80 basis points. We're going to see normal seasonal SG&A deleverage on lower sales dollars in Q4. Then we'll see some, as we've been discussing, some heightened incentive compensation impacting operating margin, as well as integration and scaling costs associated with our acquisition of the technical assets that D.G. just spoke about, which will get us to an implied Q4 operating margin of about 15.5% at the midpoint.

Okay. Maybe as a follow on to that, it sounds like this acquisition is expected to be just a modest drag to the EBIT margins as it scales. Is there a way to kind of size up how much of a headwind that is in the fourth quarter that's implied? Then, how do we think about whether this could be accretive to margin once it's fully scaled?

Sure. For Q4, for the implied Q4, we are looking at about 10-15 basis points of drag on op margin, and we expect to see that continue into 2027 as we begin to scale the solution.

When we are integrated, it will be kind of neutral to margins and a source of growth.

W.W. Grainger (GWW) Q3 2026 Earnings Call Transcript

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