— 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%.