The company posted adjusted earnings of $12.54 per share, comfortably outperforming the $11.68 per share consensus forecast from analysts. Revenue climbed 11% to $5.18 billion, also exceeding the $5.08 billion target set by market observers. This momentum reflects sustained demand for the firm's broad catalog of tools and maintenance equipment.
In section Market Quotes
Grainger Profit Surges as Industrial Supplier Lifts Annual Outlook
Chicago-based W.W. Grainger reported a sharp jump in third-quarter net income to $587 million, nearly doubling its year-ago figure of $294 million. The industrial supply distributor eclipsed Wall Street expectations on both earnings and sales, prompting the company to raise its financial guidance for the remainder of the year.
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Bolstered by these results, management revised its full-year outlook. Adjusted earnings are now projected to land between $47 and $48 per share, climbing from the previous range of $45.50 to $47.25. Similarly, the annual sales forecast was adjusted upward to a range of $19.8 billion to $20 billion, signaling a more optimistic close to the fiscal year.
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