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W.W. Grainger Q3 profit falls YOY

W.W. Grainger Inc. said its third-quarter normalized net income came to $3.10 per share, compared with the S&P Capital IQ consensus estimate of $3.06 per share.

EPS decreased 9.5% year over year from $3.42.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $202.1 million, a decrease of 14.5% from $236.4 million in the year-earlier period.

The normalized profit margin dropped to 7.7% from 9.2% in the year-earlier period.

Total revenue declined on an annual basis to $2.53 billion from $2.56 billion, and total operating expenses totaled $2.18 billion, compared with $2.18 billion in the year-earlier period.

Reported net income decreased 16.4% from the prior-year period to $190.4 million, or $2.92 per share, from $227.7 million, or $3.30 per share.