WW Grainger lowers 2024 forecasts, posts rise in quarterly revenue

WW Grainger

31/10/2024 13:08

Oct 31 (Reuters) - Industrial maintenance and safety
products supplier WW Grainger Inc  GWW.N  lowered its 2024
profit and revenue forecasts, citing "slow but steady" demand. 
    The Lake Forest, Illinois-based company now expects 2024
diluted earnings per share of $38 to $39.50, with the midpoint
below its earlier estimate of $38.65 to $39.35. 
        The company revised the lower end of its 2024 net sales
forecast to $17 billion, compared with its prior projection of
$17.1 billion to $17.3 billion.
  
    The company, which provides hand tools, power tools and
industrial products to home improvement retailers, construction
businesses and aerospace manufacturers, reported a 4.3% rise in
third-quarter sales to $4.39 billion.
    WW Grainger reported diluted per-share earnings for the
quarter ended Sept. 30 of $9.87, up from $9.43 a year earlier.
    Shares of the company, which competes with Fastenal  FAST.O 
and WESCO  WCC.N , were down 1.7% before the opening bell in
light trading. 
    

 (Reporting by Pratyush Thakur in Bengaluru; Editing by Devika
Syamnath)
 ((pratyush.thakur@thomsonreuters.com;))