W.W. Grainger (GWW), which is an industrial supplier and equipment provider, was among the S&P 500’s top gainers on April 19. After a brief pullback last week, W.W. Grainger started this week on a mixed note and consolidated in the first three trading days. W.W. Grainger opened higher on Thursday and surged to record high price levels.
Strong earnings report
The buying pressure in W.W. Grainger increased on Thursday following the release of its stronger-than-expected 1Q18 earnings report. W.W. Grainger’s EPS (earnings per share) in 1Q18 was $4.18—a strong increase from $2.88 reported in the same period last year. The EPS was also higher than analysts’ forecast of $3.42. In 1Q18, management reported a net income of $240.79 million—31.7% growth compared to $182.85 million reported in 1Q17.
The revenues in 1Q18 grew 9.1% year-over-year and surged to $2.77 billion—better than analysts’ forecast of $2.71 billion. Regarding the outlook, management expects the EPS in fiscal 2018 to be $14.30–$15.30, which is better than analysts’ forecast of $13.82.
On April 19, W.W. Grainger gained 5.3% to $299.88. W.W. Grainger is part of the S&P 500 industrials sector, which declined 0.29% on Thursday.
Next, we’ll discuss the S&P 500’s top losses on April 19.