Grainger reported results for the third quarter 2020 with sales of $3.0 billion, up 2.4% and up 4.6% on an organic daily basis compared to the third quarter 2019 driven by significant share gains in the U.S. segment and strong growth in the endless assortment businesses. Daily sales for the quarter increased 2.4% as compared to the 2019 third quarter. Organic daily sales, which exclude revenues from the divested Fabory and China businesses from the prior year results, increased 4.6% as compared to the 2019 third quarter. These sales increases were fueled by share gains in the U.S. segment and significant growth in the endless assortment businesses which more than offset declines in the Canada segment. Reported and adjusted gross profit margin for the third quarter of 2020 was 35.6%. This compares to reported and adjusted gross profit margin in the third quarter of 2019 of 37.3%. The unfavorable variance was driven by pandemic-related mix headwinds, particularly noticeable in our U.S. segment, and the continued business unit mix impact from the faster growth in our lower-margin endless assortment businesses.

All timber originating from Russia and Belarus is ‘conflict timber’ and therefore cannot be used in PEFC-certified products, the Board of PEFC International clarified today. PEFC is extremely concerned about the Russian government's attack on Ukraine. The military invasion is in direct opposition to our core values. This aggression causes unspeakable and unacceptable pain and death to innocent people, including women and children. It also has an immediate and long-term destructive impact on the environment, on forests, and on the many people that depend on forests for their livelihoods. The clarification that timber from Russia and Belarus is conflict timber follows an extraordinary meeting by the PEFC International Board to discuss Mr Putin's military aggression against Ukraine and its implications for PEFC and PEFC-certified forest owners and companies.

S&P Global announced that it has entered into an agreement to sell its Engineering Solutions business to investment funds managed by KKR, a leading global investment firm and a longstanding customer of S&P Global, for $975 million in cash, subject to customary purchase price adjustments. S&P Global currently anticipates the divestiture to result in after-tax proceeds of approximately $750 million, which proceeds are expected to be used to fund share repurchases. The agreement follows S&P Global's announced intent in November 2022 to divest the business.