UPDATE: Grainger (GWW) Misses Q2 EPS Expectations; Trims FY16 EPS Outlook Midpoint
Grainger (NYSE: GWW) reported Q2 EPS of $2.89, $0.28 worse than the analyst estimate of $3.17. Revenue for the quarter came in at $2.56 million versus the consensus estimate of $2.58 billion.
The company also revised its 2016 sales and earnings per share guidance and now expects sales growth of 1 to 4 percent and earnings per share of $11.20 to $12.20 for the year (midpoint at $11.70). The company's previous 2016 guidance, communicated on April 18, 2016, included sales growth of 0 to 6 percent and earnings per share of $11.00 to $12.80 (midpoint at $11.90).
(Consensus estimates call for FY16 EPS of $11.94 and revenue of $10.23 billion.)
For earnings history and earnings-related data on Grainger (GWW) click here.