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W.W. Grainger tops Street 4Q forecasts

LAKE FOREST, Ill. (AP) _ W.W. Grainger Inc. (GWW) on Wednesday reported fourth-quarter earnings of $60.7 million.

The Lake Forest, Illinois-based company said it had net income of $1.01 per share. Earnings, adjusted for asset impairment costs and non-recurring costs, came to $2.45 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.36 per share.

The seller of maintenance and other supplies posted revenue of $2.47 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $2.45 billion.

For the year, the company reported profit of $605.9 million, or $9.87 per share. Revenue was reported as $10.14 billion.

W.W. Grainger shares have risen slightly more than 7 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 2 percent. The stock has climbed 34 percent in the last 12 months.

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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

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Keywords: W.W. Grainger, Earnings Report