W.W. Grainger, Inc. (GWW - Free Report) , distributor of maintenance, repair and operating (MRO) supplies and other related products, reported first-quarter 2018 results, wherein adjusted earnings of $4.18 surpassed the Zacks Consensus Estimate of $3.41.
Revenue: Grainger posted revenues of $2.77 billion, beating the Zacks Consensus Estimate of $2.71 billion.
Earnings Estimates Revision: The Zacks Consensus Estimate for first quarter has been stable over the past 30 days. In the trailing four quarters, excluding quarter under review, the company’s earnings have surpassed the Zacks Consensus Estimate by an average of nearly 11.99%.
Outlook: Grainger raised its 2018 sales and earnings per share guidance. The company now expects that sales will grow 5-8% compared to the prior guidance of 3-7%. Further outlook for earnings per share is now at $14.30-$15.30 from the prior band of $12.95-$14.15.
Zacks Rank: Currently, Grainger carries a Zacks Rank #2 (Buy) which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Market Reaction: Grainger’s shares gained 7.3% in pre-market trading.
Check back later for our full write up on Grainger’s earnings report!
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