W.W. Grainger Inc. on Monday reported first-quarter profit of $253 million.
On a per-share basis, the Lake Forest, Illinois-based company said it had net income of $4.48. Earnings, adjusted for restructuring costs, were $4.51 per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $4.42 per share.
The seller of maintenance and other supplies posted revenue of $2.8 billion in the period, which did not meet Street forecasts. Eight analysts surveyed by Zacks expected $2.89 billion.
W.W. Grainger shares have climbed 9 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 16 percent. The stock has risen roughly 3 percent in the last 12 months.
