W.W. Grainger, Inc. (GWW - Free Report) announced the sale of subsidiary E&R Industrial Sales, Inc. to a Los Angeles-based private equity firm, Paradigm Equity Partners. This move aligns with Grainger's strategy to concentrate efforts on enhancing its core business.
E&R Industrial joined Grainger in 2013 as its subsidiary. E&R Industrial is committed to making the move as easy as possible for its customers, suppliers and team members. Financial details of the agreement remain undisclosed.
While Grainger continues to deliver its renowned array of maintenance, metalworking products and expertise, customers will retain access to E&R's diverse assortment through Grainger's platform. Simultaneously, E&R's customers will benefit from accessing Grainger's extensive MRO-leading assortment via E&R channels.
GWW will continue to gain from the ongoing momentum in the United States, as well as strong demand for non-pandemic products. Grainger reported earnings per share (EPS) of $9.43 in third-quarter 2022, beating the Zacks Consensus Estimate of $8.85. The bottom line improved 14.1% year over year, aided by margin improvement in the High-Touch Solutions N.A. and Endless Assortment segments, and a strong operating performance.
Grainger’s quarterly revenues rose 6.7% year over year to $4.2 billion. The top line, however, missed the Zacks Consensus Estimate of $4,230 million. Daily sales increased 8.4% from the prior-year quarter.
Price Performance
In the past year, Grainger’s shares have gained 44% compared with the industry’s growth of 19.4%.
Zacks Rank and Stocks to Consider
GWW currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Crane Company (CR - Free Report) , Applied Industrial Technologies (AIT - Free Report) and A. O. Smith Corporation (AOS - Free Report) .
CR currently sports a Zacks Rank #1 (Strong Buy), and AIT and AOS carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Crane Company’s 2023 earnings per share is pegged at $4.18. The consensus estimate for 2023 earnings has been unchanged in the past 60 days. The company has a trailing four-quarter average earnings surprise of 29.8%. CR shares have rallied 33.7% in a year.
Applied Industrial has an average trailing four-quarter earnings surprise of 15%. The Zacks Consensus Estimate for AIT’s 2023 earnings is pinned at $9.43 per share, which indicates year-over-year growth of 7.8%. Estimates have moved up 4% in the past 60 days. The company’s shares have gained 27.2% in a year.
The Zacks Consensus Estimate for A. O. Smith’s 2023 earnings is pegged at $3.77 per share. The consensus estimate for 2023 earnings has moved 5% north in the past 60 days and suggests year-over-year growth of 20.1%. The company has a trailing four-quarter average earnings surprise of 14%. AOS shares have gained 29.4% in a year.
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W.W. Grainger, Inc. (GWW - Free Report) announced the sale of subsidiary E&R Industrial Sales, Inc. to a Los Angeles-based private equity firm, Paradigm Equity Partners. This move aligns with Grainger's strategy to concentrate efforts on enhancing its core business.
E&R Industrial joined Grainger in 2013 as its subsidiary. E&R Industrial is committed to making the move as easy as possible for its customers, suppliers and team members. Financial details of the agreement remain undisclosed.
While Grainger continues to deliver its renowned array of maintenance, metalworking products and expertise, customers will retain access to E&R's diverse assortment through Grainger's platform. Simultaneously, E&R's customers will benefit from accessing Grainger's extensive MRO-leading assortment via E&R channels.
GWW will continue to gain from the ongoing momentum in the United States, as well as strong demand for non-pandemic products. Grainger reported earnings per share (EPS) of $9.43 in third-quarter 2022, beating the Zacks Consensus Estimate of $8.85. The bottom line improved 14.1% year over year, aided by margin improvement in the High-Touch Solutions N.A. and Endless Assortment segments, and a strong operating performance.
Grainger’s quarterly revenues rose 6.7% year over year to $4.2 billion. The top line, however, missed the Zacks Consensus Estimate of $4,230 million. Daily sales increased 8.4% from the prior-year quarter.
Price Performance
In the past year, Grainger’s shares have gained 44% compared with the industry’s growth of 19.4%.
Zacks Rank and Stocks to Consider
GWW currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the Industrial Products sector are Crane Company (CR - Free Report) , Applied Industrial Technologies (AIT - Free Report) and A. O. Smith Corporation (AOS - Free Report) .
CR currently sports a Zacks Rank #1 (Strong Buy), and AIT and AOS carry a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Crane Company’s 2023 earnings per share is pegged at $4.18. The consensus estimate for 2023 earnings has been unchanged in the past 60 days. The company has a trailing four-quarter average earnings surprise of 29.8%. CR shares have rallied 33.7% in a year.
Applied Industrial has an average trailing four-quarter earnings surprise of 15%. The Zacks Consensus Estimate for AIT’s 2023 earnings is pinned at $9.43 per share, which indicates year-over-year growth of 7.8%. Estimates have moved up 4% in the past 60 days. The company’s shares have gained 27.2% in a year.
The Zacks Consensus Estimate for A. O. Smith’s 2023 earnings is pegged at $3.77 per share. The consensus estimate for 2023 earnings has moved 5% north in the past 60 days and suggests year-over-year growth of 20.1%. The company has a trailing four-quarter average earnings surprise of 14%. AOS shares have gained 29.4% in a year.
Infrastructure Stock Boom to Sweep America
A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made.
The only question is “Will you get into the right stocks early when their growth potential is greatest?”
Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.
Download FREE: How To Profit From Trillions On Spending For Infrastructure >>
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