Grainger (GWW) Misses Q1 EPS by 1c; Trims FY15 Outlook
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Grainger Reports Results For The 2015 First Quarter
April 16, 2015 7:30 AM EDTCHICAGO, April 16, 2015 /PRNewswire/ -- Grainger (NYSE: GWW) today reported results for the 2015 first quarter ended March 31, 2015. Sales of $2.4 billion increased 2 percent versus $2.4 billion in the first quarter of 2014. There were 63 selling days in the 2015 first quarter, the same number as the 2014 first quarter. Net earnings for the quarter declined 3 percent to $211 million versus $217 million in 2014. Earnings per share of $3.07 were flat versus 2014.Â
"This was a challenging quarter. Our results were affected by continued headwinds from the strong U.S. dollar and weakness in the oil and gas sector in North... More
Grainger Announces Permanent Change To Capital Structure And Intent To Buy Back $3 Billion In Common Stock
April 16, 2015 7:15 AM EDTCHICAGO, April 16, 2015 /PRNewswire/ -- Grainger (NYSE: GWW) announced today 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.Â
"This program reflects our confidence in the business and future prospects of the company and better optimizes our balance sheet," said... More
