W.W. Grainger: 2Q Earnings Snapshot
LAKE FOREST, Ill. (AP) _ W.W. Grainger Inc. (GWW) on Wednesday reported second-quarter profit of $260 million.
The Lake Forest, Illinois-based company said it had profit of $4.67 per share. Earnings, adjusted for restructuring gains, came to $4.64 per share.
The results did not meet Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $4.65 per share.
The seller of maintenance and other supplies posted revenue of $2.89 billion in the period, also falling short of Street forecasts. Nine analysts surveyed by Zacks expected $2.99 billion.
W.W. Grainger expects full-year earnings to be $17.10 to $18.70 per share.
W.W. Grainger shares have declined slightly more than 1% since the beginning of the year, while the Standard & Poor’s 500 index has climbed 20%. The stock has decreased 19% in the last 12 months.