W.W. Grainger Q4 Profit Badly Misses; Shares Tumble (GWW)

Facilities maintenance supplier W.W. Grainger, Inc. (GWW) on Thursday posted disappointing fourth quarter earnings results, sending its shares lower in morning traing.

The Lake Forest, IL-based company reported fiscal fourth quarter net income of $153.56 million, or $2.17 per share, compared with $145.76 million, or $2.04 per share, in the year-ago period. Excluding special items, adjusted profit was $2.42 per share.

Revenue rose 7% from last year to $2.23 billion.

On average, Wall Street analysts expected a much higher profit of $2.61 per share, on slightly larger revenue of $2.24 billion.

Looking ahead, GWW maintained its full-year 2013 earnings forecast for $10.85 to $12.00 per share while lifting its sales growth expectation to a range of 3% to 9% (up from 2% to 8%). Wall Street analysts are looking for 2013 earnings of $11.74 per share.

W.W. Grainger shares fell $5.78, or -2.8%, in early trading Thursday.

The Bottom Line
Shares of W.W. Grainger (GWW) have a 1.53% dividend yield, based on last night’s closing stock price of $209.79. The stock has technical support in the $190-$200 price area. The stock is trading near the all-time high range of $215-$220 a share.

W.W. Grainger, Inc. (GWW) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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