BMO Capital Cuts Price Target on Grainger (GWW) to $270 Following 2Q EPS Miss

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Go back to BMO Capital Cuts Price Target on Grainger (GWW) to $270 Following 2Q EPS Miss

Grainger Reports Results For The 2016 Second Quarter

July 19, 2016 7:30 AM EDT

CHICAGO, July 19, 2016 /PRNewswire/ -- Grainger (NYSE: GWW) today reported results for the 2016 second quarter ended June 30, 2016.  Sales of $2.6 billion increased 2 percent versus $2.5 billion in the second quarter of 2015.  There were 64 selling days in the 2016 second quarter, the same as the 2015 second quarter.  Net earnings for the quarter of $173 million were down 22 percent versus $221 million in 2015.  Earnings per share of $2.79 declined 14 percent versus $3.25 in 2015. 

Second quarter results contained the following special items that the company believes are not indicative of ongoing operations and have been removed to provide better comparability with... More