Grainger Tightens FY16 Outlook, Q3 Profit Beats View - Quick Facts

(RTTNews) - W.W. Grainger, Inc. (GWW), a broad line supplier of maintenance, repair and operating or MRO products, on Tuesday tightened its fiscal 2016 outlook, and now expects earnings per share of $11.40 to $11.70 and sales growth of 1.5 to 2.5 percent. The company's previous 2016 guidance was earnings per share of $11.20 to $12.20 and sales growth of 1 to 4 percent.

On average, 23 analysts polled by Thomson Reuters expect earnings of $11.54 per share for the year. Analysts' estimates typically exclude special items.

For the third quarter, net earnings attributable to the company was $185.87 million, down 3 percent from $192.20 million in 2015. Earnings per share of $3.05 increased 4 percent from $2.92 in 2015.

Adjusted earnings per share were $3.06, compared to $3.03 per share a year ago. Analysts expected earnings of $2.99 per share.

Net sales of $2.6 billion increased 3 percent from $2.53 billion in the third quarter of 2015. Analysts expected sales of $2.59 billion.

There were 64 selling days in the 2016 third quarter, the same as the 2015 third quarter.