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WW Grainger Q3 earnings beat estimates, ups full-year profit outlook

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WW Grainger's (NYSE:GWW) third-quarter profit Tuesday beat estimates for the sixth straight quarter as the industrial maintenance and safety products supplier raised its full-year earnings outlook.

For the three months that ended September 30, the company posted earnings of $182.1 million, or $2.51 per share, on revenue of $2.1 billion.

On an adjusted basis, the company earned $2.44 per share, while the market expected earnings of $2.33 a share, on sales of $2.1 billion.

Grainger's chairman, president and CEO, Jim Ryan, said: "This was an exceptional quarter for Grainger. We saw consistent, double-digit, sales growth each month of the quarter and delivered strong earnings growth and cash flow."

The company, considered an industrial bellwether, raised its full-year profit outlook to $8.80-$9.00 per share, from its earlier forecast of $8.40-$8.70 per share. It expects revenue growth of 11-12%, up from prior view of 9-10% driven by its $344 million Fabory Group acquisition in August.

For the full year, analysts are expecting earnings of $8.76 per share, on sales of $8 billion.

WW Grainger competes with MSC Industrial Direct and Fastenal, which last week reported third-quarter profit in-line with estimates.

Shares of the Chicago-headquartered company were up 2% to $158.19 Tuesday morning.

Quick facts: W.W. Grainger

Price: 350.11 USD

NYSE:GWW
Market: NYSE
Market Cap: $18.79 billion
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