LAKE FOREST, Ill. (AP) — LAKE FOREST, Ill. (AP) — W.W. Grainger Inc. (GWW) on Wednesday reported third-quarter profit of $587 million.
On a per-share basis, the Lake Forest, Illinois-based company said it had net income of $12.42. Earnings, adjusted for non-recurring costs, came to $12.54 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $11.64 per share.
The seller of maintenance and other supplies posted revenue of $5.18 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $5.06 billion.
W.W. Grainger expects full-year earnings in the range of $47 to $48 per share, with revenue in the range of $19.8 billion to $20 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GWW at https://www.zacks.com/ap/GWW
