Grainger Announces Permanent Change To Capital Structure And Intent To Buy Back $3 Billion In Common Stock
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April 16, 2015 7:31 AM EDT
Grainger (NYSE: GWW) reported Q1 EPS of $3.10, $0.01 worse than the analyst estimate of $3.11. Revenue for the quarter came in at $2.4 billion versus the consensus estimate of $2.46 billion.
Grainger sees FY2015 EPS of $12.25 - $12.95, versus prior guidance of $12.60 - $13.60 and the consensus of $12.89.... More
April 16, 2015 7:16 AM EDT
Grainger (NYSE: GWW) announced that its Board of Directors has approved the purchase of $3 billion of its common stock over the next three years. The share repurchase will be financed with a combination of cash and the issuance of new, permanent debt. In addition, the Board increased the repurchase authorization to 15 million shares. This replaces a prior program of 10 million shares approved in April 2014.
"This program reflects our confidence in the business and future prospects of the company and better optimizes our... More
