W.W. Grainger Q2 Net Profit Down, Matches Estimates - Quick Facts

(RTTNews) - W.W. Grainger, Inc. (GWW), an industrial supplier of maintenance, repair and operating equipment, Thursday reported a second-quarter net earnings that declined despite a rise in sales, due mainly to higher growth and infrastructure spending and retirement plan transition costs. Earnings, however, were in line with analysts' estimates.

For the three months to June, net earnings decreased by 5 percent to $206 million or $2.94 per share, from $218 million or $3.03 per share in 2013.

Excluding certain items, the company reported earnings of $3.09 per share for the second quarter. On average, 21 analysts polled by Thomson-Reuters estimated the company's earnings to be $3.09 for the quarter. Analysts' estimates typically exclude one-time items.

Quarterly sales rose by 5 percent to $2.51 billion from $2.38 billion in the 2013 second quarter. Analysts expected revenues of $2.54 billion.

For the full year, the company narrowed its adjusted earnings guidance to $12.20 to $12.60 per share, compared with $12.10 to $12.85 previously projected. The company lowered the top end of its revenues guidance to a range of 5 to 7 percent growth, from its prior guidance of 5 to 9 percent.

Analysts expect the company report earnings of $12.60 on revenues of $10.08 billion for the year 2014.