LAKE FOREST, Ill. (AP) — LAKE FOREST, Ill. (AP) — W.W. Grainger Inc. (GWW) on Thursday reported first-quarter net income of $488 million.
The Lake Forest, Illinois-based company said it had profit of $9.61 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $8.57 per share.
The seller of maintenance and other supplies posted revenue of $4.09 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $4.06 billion.
W.W. Grainger expects full-year earnings to be $34.25 to $36.75 per share, with revenue in the range of $16.2 billion to $16.8 billion.
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