U.S. Markets close in 1 hr 60 mins

W.W. Grainger misses Street 1Q forecasts

LAKE FOREST, Ill. (AP) _ W.W. Grainger Inc. (GWW) on Tuesday reported first-quarter earnings of $174.7 million.

On a per-share basis, the Lake Forest, Illinois-based company said it had net income of $2.93. Earnings, adjusted for restructuring gains, were $2.88 per share.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.01 per share.

The seller of maintenance and other supplies posted revenue of $2.54 billion in the period, which also did not meet Street forecasts. Seven analysts surveyed by Zacks expected $2.56 billion.

W.W. Grainger expects full-year earnings to be $10 to $11.30 per share.

W.W. Grainger shares have fallen 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 5 percent. The stock has declined roughly 5 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GWW at https://www.zacks.com/ap/GWW


Keywords: W.W. Grainger, Earnings Report