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W.W. Grainger Q2 profit falls YOY

W.W. Grainger Inc. said its second-quarter normalized net income came to $2.73 per share, compared with the S&P Capital IQ consensus estimate of $2.65 per share.

EPS decreased year over year from $2.86.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $159.3 million, a decrease of 9.2% from $175.4 million in the prior-year period.

The normalized profit margin fell to 6.1% from 6.8% in the year-earlier period.

Total revenue climbed year over year to $2.62 billion from $2.56 billion, and total operating expenses grew from the prior-year period to $2.32 billion from $2.25 billion.

Reported net income decreased 43.2% year over year to $97.3 million, or $1.67 per share, from $171.1 million, or $2.79 per share.