Industrial Supply Company W.W. Grainger Shares Are Higher After Reporting Q4 Earnings
Portfolio Pulse from Lekha Gupta
W.W. Grainger Inc (NYSE:GWW) reported Q4 FY23 earnings with sales of $3.997 billion, up 5.1% Y/Y, missing consensus estimates. Adjusted EPS rose 16.7% Y/Y to $8.33, beating estimates. The company expects FY24 net sales of $17.2 billion-$17.7 billion and EPS of $38.00-$40.50. Shares are up 3.71%.
February 02, 2024 | 5:40 pm
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POSITIVE IMPACT
W.W. Grainger Inc reported a 5.1% Y/Y increase in Q4 sales and a 16.7% rise in adjusted EPS, surpassing EPS estimates. The company's FY24 outlook is positive, with expected net sales of $17.2 billion-$17.7 billion and EPS of $38.00-$40.50. Shares rose 3.71%.
The positive earnings report, especially the higher-than-expected adjusted EPS and optimistic FY24 outlook, are likely to instill confidence in investors, contributing to the short-term positive momentum in GWW's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100