— W.W. Grainger (NYSE: GWW) reported third-quarter 2019 adjusted earnings of $4.26 per share versus $4.40 per share expected. The results were driven by sales performance and strong expense management despite the slower macroeconomic environment.
— Net sales increased by 4% to $2.95 billion versus $2.95 billion expected.
— Daily sales rose 2.5%. Sales were primarily composed of a 2.5 percentage point increase in volume. Price inflation and the impact of foreign exchange were both flat.
— Looking ahead into the full year 2019, the company reiterated its net sales growth outlook in the range of 2% to 5%. The street consensus for revenue growth is 2.60%.
— The earnings guidance is reiterated in the range of $17.10 to $18.70 per share for the full year. The market analysts expect earnings of $17.54 per share.
— Gross margin is still predicted to be 38.1% to 38.7% for 2019 and the operating margin is still projected to be 12.2% to 13%.
Most Popular
IPO Alert: Here’s what to look for when CaliberCos goes public
The massive slowdown in the IPO market continued in the second half as the challenges posed by high inflation and interest rate hikes weighed on investor confidence. Meanwhile, there is
CarMax (KMX) Stock: Does the current dip offer a buying opportunity?
The automotive sector is one of the worst affected by the combination of high inflation and rising interest rates. Consumers have become more cautious and are prioritizing their purchases with
Ultimax Digital gears up for $10mln IPO. Here’s all you need to know
The IPO market has witnessed muted activity this year, and things don’t seem to have improved in the second half. The upcoming public listing of video game technology firm Ultimax
