WW Grainger falls as Q1 profit misses estimates

WW Grainger

25/04/2024 15:13

** Shares of industrial parts provider W.W. Grainger 
 GWW.N  fall 3.4% to $925.33 
    ** Co reports first-quarter profit of $9.62/shr, missing
analysts' estimates of $9.88/shr - LSEG  
    ** Its revenue of $4.24 bln came in below analysts'
estimates of $4.39 bln
     ** Gross profit margin fell by 50 basis point to 39.4%,
driven by decline in both of its high-touch solutions and
endless assortment segments
    ** 2 of 16 brokerages rate the stock "buy" or higher, 13
"hold" and 1 "strong sell"; their median PT is $1000
    ** YTD, company's shares up 11.5%

 (Reporting by Abhinav Parmar in Bengaluru)
 ((Abhinav.parmar@thomsonreuters.com))