LAKE FOREST, IL — W.W. Grainger Inc. (GWW) on Tuesday reported third-quarter profit of $104.4 million.
On a per-share basis, the Lake Forest, Illinois-based company said it had profit of $1.82. Earnings, adjusted for restructuring costs, came to $4.19 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.96 per share.
The seller of maintenance and other supplies posted revenue of $2.83 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $2.85 billion.
W.W. Grainger shares have risen 35 percent since the beginning of the year, while the Standard & Poor's 500 index has increased nearly 3 percent. The stock has risen 76 percent in the last 12 months.
