Grainger Q4 Profit Down; Cuts FY15 Outlook - Quick Facts

(RTTNews) - W.W. Grainger Inc. (GWW) reported that its fourth-quarter net earnings attributable to the company declined to $148.84 million from $156.75 million in the year ago quarter. Quarterly earnings per share were $2.14 down 3 percent from $2.20 in prior year. Unfavorable foreign exchange represented a $0.02 reduction to earnings per share. In the latest-quarter, the company recorded charges totaling $0.66 per share.

But, adjusted earnings per share rose to $2.80 from $2.59 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $2.83 per share for the quarter. Analysts' estimates typically exclude special items.

Sales the fourth quarter were $2.51 billion up approximately 6 percent from $2.38 billion in the 2013 fourth quarter. Wall Street expected revenues of $2.50 billion for the quarter.

The company updated its 2015 guidance and now expects 3 to 7 percent sales growth from 5 to 9 percent and $12.60 to $13.60 earnings per share from $12.90 to $13.80. Wall Street currently is looking for fiscal year 2015 earnings of $13.48 per share on annual revenues of $10.63 billion.

The change reflects the current foreign currency translation effect on reported financial results due to the further weakening of the Canadian and Japanese currencies since the company first issued guidance for 2015, as well as the deteriorating macroeconomic environment in Canada.