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W.W. Grainger Q2 profit climbs YOY

W.W. Grainger Inc. said its second-quarter normalized net income amounted to $3.19 per share, compared with the S&P Capital IQ consensus estimate of $3.05 per share.

EPS rose 6.0% year over year from $3.00.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $214.5 million, an increase from $208.4 million in the year-earlier period.

The normalized profit margin increased to 8.5% from 8.3% in the year-earlier period.

Total revenue came to $2.52 billion, compared with $2.51 billion in the year-earlier period, and total operating expenses totaled $2.16 billion, compared with $2.17 billion in the prior-year period.

Reported net income rose 7.3% from the prior-year period to $218.4 million, or $3.24 per share, from $203.5 million, or $2.94 per share.