WASHINGTON (dpa-AFX) - (Adds Outlook)
Grainger (W.W.) Inc. (GWW) announced a profit for its first quarter that increased from the same period last year and beat the Street estimates.
The company's bottom line came in at $366 million, or $7.07 per share. This compares with $238 million, or $4.48 per share, in last year's first quarter.
Analysts on average had expected the company to earn $6.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 18.5% to $3.65 billion from $3.08 billion last year.
Looking forward, Grainger has lifted its full-year sales and earnings outlook above the Street view, citing a strong start to the year.
It now expects earnings of $25.00 - $27.00 per share , up from its earlier expectation of $23.50 - $25.50 per share.
Sales are now expected to be $14.5 billion - $14.9 billion compared with its previous outlook of $14.1 billion - $14.5 billion.
Analysts on average surveyed by Thomson-Reuters expect the company to report earnigns of $24.71 for the year on revenue of $14.31 billion.
Grainger (W.W.) Inc. earnings at a glance (GAAP) :
-Earnings (Q1): $366 Mln. vs. $238 Mln. last year. -EPS (Q1): $7.07 vs. $4.48 last year. -Analyst Estimate: $6.12 -Revenue (Q1): $3.65 Bln vs. $3.08 Bln last year.
-Guidance: Full year EPS guidance: $25.00 - $27.00 Full year revenue guidance: $14.5 - $14.9 Bln
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