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Grainger (GWW) Tops Q2 EPS by 20c; Trims FY15 Outlook

July 17, 2015 7:30 AM EDT

Grainger (NYSE: GWW) reported Q2 EPS of $3.25, $0.20 better than the analyst estimate of $3.05. Revenue for the quarter came in at $2.52 billion versus the consensus estimate of $2.52 billion.

"While this continues to be a difficult economic environment, we are focusing on the things we can control," said Chairman, President and Chief Executive Officer Jim Ryan. "Despite continued softness in sales and gross profit margins from a tough industrial economy, we continue to invest for the long term while driving significant productivity to fund growth and infrastructure investments and reduce overall margin pressure. We have also leveraged our strong balance sheet with a recent $1 billion bond placement and lowered our tax rate through improved tax planning strategies. We expect the current economic conditions to continue through the end of the year and as a result we are updating our guidance," Ryan concluded. The company now expects 0 to 2 percent sales growth and earnings per share of $12.00 to $12.50 for the full year 2015. The company's previous 2015 guidance, issued on April 16, 2015, included 1 to 4 percent sales growth and earnings per share of $12.25 to $12.95.

*** Consensus estimates call for FY15 revenue of $10.1 billion and EPS of $12.35.

For earnings history and earnings-related data on Grainger (GWW) click here.



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