UBS Cuts Price Target to $210 on Grainger (GWW) Following 3c EPS Miss
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Grainger Reports Results For The 2015 Third Quarter
October 16, 2015 7:30 AM EDTCHICAGO, Oct. 16, 2015 /PRNewswire/ -- Grainger (NYSE: GWW) today reported results for the 2015 third quarter ended September 30, 2015. Sales of $2.5 billion declined 1 percent versus $2.6 billion in the 2014 third quarter. There were 64 selling days in the quarter, the same as in 2014.  Net earnings for the third quarter were down 17 percent to $192 million versus $230 million in 2014.  Earnings per share of $2.92 declined 12 percent versus $3.30 in 2014.
The 2015 third quarter included charges of $11.0 million, or $0.11 per share. These charges reflect cost actions begun in the third quarter related to the announcement of 26 branch closures in the United States... More
