Irene Holman | Vice President of Investor Relations |
Donald Macpherson | Chairman and Chief Executive Officer |
Thomas Okray | Senior Vice President and Chief Financial Officer |
Ryan Merkel | William Blair & Co. |
David Manthey | Robert W. Baird & Co. |
Christopher Glynn | Oppenheimer & Co. |
Stephen Volkmann | Jefferies & Company, Inc. |
Mario Cortellacci | Macquarie Capital |
Patrick Baumann | JPMorgan Securities LLC |
Robert Barry | The Buckingham Research Group Inc. |
Nigel Coe | Wolfe Research, LLC |
Christopher Dankert | Longbow Research |
Evelyn Chow | Goldman Sachs |
Ryan Cieslak | Northcoast Research |
Deane Dray | RBC Capital Markets |
Justin Bergner | Gabelli and Company |
Scott Graham | BMO Capital Markets |
John Inch | Gordon Haskett |
Greetings, and welcome to W.W. Grainger’s Fourth Quarter 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.