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W.W. Grainger’s (NYSE:GWW) stock rose Wednesday after the supplier of maintenance, repair and operating products lifted its profit estimate for the year while reporting Q1 results. Shares climbed as much as 3.9% to $685.79.
The company forecast full-year EPS in a range of $34.25 to $36.75, up from $32 to $34.50 previously.
Its Q1 profit rose 33% from a year earlier to $488 million. EPS jumped 36% to $9.61 to beat the average estimate of $8.53 among Wall Street analysts. Sales rose 12.2% to $4.09 billion, beating the analyst consensus of $4.07 billion.
