Grainger (GWW) Beats On Q2 Earnings, Maintains FY17 View
Zacks Investment Research | Jul 19, 2017 02:29AM ET
W.W. Grainger, Inc.’s (NYSE:GWW) second-quarter 2017 adjusted earnings per share of $2.74 came in 5% lower than the prior-year figure of $2.89. Earnings, however, beat the Zacks Consensus Estimate of $2.62.
Including one-time items, earnings came in at $1.67 per share in the reported quarter, down around 40% from $2.79 recorded in the year-ago quarter.
Operational Update
Grainger reported revenues of $2,615 million, up 2% from the prior-year quarter figure of $2,564 million, driven by a 7 percentage point (pp) increase from volume growth, partly offset by a 3 pp decline in price, 1 pp from foreign exchange and 1 pp from the timing of the Easter holiday. However, the figure marginally fell short of the Zacks Consensus Estimate of $2,622 million. There were 64 selling days in the reported quarter, same as second-quarter 2016.
W.W. Grainger, Inc. Price, Consensus and EPS Surprise
Industrial Services sub-industry with respect to price performance. The stock lost around 19.61%, while the industry saw a decline of 15.76% over the same time frame.
Zacks Rank
Grainger currently carries a Zacks Rank #4 (Sell).
Some better-ranked companies in the same sector are AGCO Corp. (NYSE:AGCO) , Apogee Enterprises, Inc. (NASDAQ:APOG) and Cimpress N.V. (NASDAQ:CMPR) , all three sporting a Zacks Rank #1 (Strong Buy). You can see Zacks Investment Research
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