Facilities maintenance products maker W.W. Grainger, Inc. (GWW) on Wednesday posted a solid uptick in second quarter earnings, beating Wall Street’s view.
The Lake Forest, IL-based company reported second quarter net income of $190.7 million, or $2.63 per share, compared with $169.9 million, or $2.34 per share, in the year-ago period.
Revenue rose 12% from last year to $2.25 billion.
On average, Wall Street analysts expected a smaller profit of $2.62 per share, on slightly higher revenue of $2.27 billion.
W.W. Grainger shares rose $3.03, or +1.6%, in premarket trading Wednesday.
The Bottom Line
Shares of W.W. Grainger (GWW) have a 1.69% dividend yield, based on last night’s closing stock price of $188.97. The stock has technical support in the $177-$180 price area. If the shares can firm up, we see overhead resistance around the $196-$200 price levels.
W.W. Grainger, Inc. (GWW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.