Led by impressive performance in its High-Touch Solutions and Endless Assortment business segments, industrial supplies giant Grainger reported 3Q sales on Oct. 28 that keep the company on pace to finish 2022 strong.

For the July-September period, Grainger reported sales of $3.9 billion, a 16.9% increase year-over-year and up 20.3% on a daily, constant-currency basis. The 16.9% growth was a slower rate than 2Q’s 19.6%, and that can be attributed to mid-summer softening in sales growth that was experienced by much of the industry. Grainger had 19% sales growth in July, 15.2% in August and 16.7% in September.

Lake Forest, Illinois-based Grainger said 3Q daily sales in its High-Touch Solutions N.A. segment were up 19.4% year-over-year, thanks to double-digit sales growth across all of its geographies and continued strong price realization. Daily sales for Grainger’s Endless Assortment segment were up 8.6% year-over-year or 23.7% on a daily, constant currency basis — contributing to that growth is depreciating Japanese Yen, according to Grainger, as was the case in 2Q 2022.

“The third quarter performance reflects our focused execution against our long-term strategy and ability to serve customers well in this demand environment,” Grainger Chairman and CEO D.G. Macpherson said. “Our teams are driving impressive results across both business segments and, after another quarter of strong performance, we are increasing our 2022 full year guidance. We remain on track to deliver an exceptional year.”

Grainger’s gross profit margin increased from 37.1% in 3Q 2021 to 38.5% in 3Q 2022, good for an expansion of 145 basis points (bps). Similarly, operating margin increased from 13% to 15.3% year-over-year for an expansion of 230 bps.

Here’s how Grainger’s 3Q revenue performed by U.S. business end market:

• Natural Resources: up, high-thirties
• Heavy Manufacturing: up, high-twenties
• Transportation: up, high-twenties
• Light Manufacturing: up, mid-twenties
• Wholesale: up, mid-twenties
• Commercial: up, low-twenties
• Contractor: up, low-twenties
• Government: up, mid-teens
• Healthcare: up, high-single digits
• Retail (includes eCommerce businesses): up, low-single digits