W W Grainger Inc (NYSE:GWW) stock was flying high today following the release of its earnings report for the fourth quarter of 2017.
During the fourth quarter of the year, W W Grainger Inc reported earnings per share of $2.94. This is an increase over its earnings per share of $2.45 from the same time last year. It was also a boon to GWW stock by blowing past Wall Street’s earnings per share estimate of $2.20 for the period.
Operating earnings reported by W W Grainger Inc in the fourth quarter of 2017 were $239.94 million. The equipment and tools retailer’s operating income from the fourth quarter of 2016 came in at $174.29 billion.
W W Grainger Inc reported net income of $161.82 million for the fourth quarter of the year. This is an increase over its net income of $68.34 million that was reported in the same period of the year prior.
Revenue of $2.63 billion reported by W W Grainger Inc in the fourth quarter of 2017 was also good news for GWW stock. It’s an increase over the company’s revenue of $2.47 billion from the same quarter of the previous year. It also comes in above analysts’ revenue estimate of $2.57 billion for the quarter.
W W Grainger Inc also updated its guidance for the full year of 2018 in its most recent earnings report. GWW says that it is still expecting its revenue for the year to increase in the range of 3% to 7%.
When it comes to earnings per share for 2018, W W Grainger Inc is now expecting it to come in between $12.95 to $14.15. The company’s previous earnings per share guidance ranged from $10.60 to $11.80. Wall Street is looking for earnings per share of $11.39 for 2018.
GWW stock was up 16% as of Wednesday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.