W.W. Grainger's (NYSE:GWW) profit climbed in the second quarter.
Earnings and Revenue The company's EPS fell in line with analyst expectations of $2.63 a share while revenue of $2.25 billion missed estimates of $2.27 billion. The estimates of 13 analysts ranged from profit of $2.57 to profit of $2.74.
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The company's net income for the quarter rose 12.3% to $190.7 million. Revenue climbed 12.3% from $2 billion in the same period last year.
Company Fundamental Trends Last quarter marked the third in a row of rising net income. The company has averaged revenue growth of 13.2% over the past five quarters.
History Against Expectations The company fell in line with estimates last quarter after topping expectations in the previous two quarters. In the first quarter, it topped the mark by 6 cents, and in the fourth quarter of the last fiscal year, it was ahead by 2 cents.
Official Comment: "Our strong sales and earnings growth is further evidence of the value Grainger provides to professional buyers and maintenance engineers who are tasked every day with keeping their facilities up and running," said Chairman, President and Chief Executive Officer Jim Ryan. "Businesses and institutions need a trusted partner like Grainger to deliver products and solutions that help drive down process costs and inventory carrying costs. We have a great group of people working hard to deliver for our customers every day."
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.