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W.W. Grainger Q3 profit falls YOY

W.W. Grainger Inc. said its third-quarter normalized net income amounted to $2.70 per share, compared with the S&P Capital IQ consensus estimate of $2.56 per share.

EPS fell 10.3% year over year from $3.01.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $155.4 million, a decline of 14.6% from $181.8 million in the prior-year period.

The normalized profit margin declined to 5.9% from 7.0% in the year-earlier period.

Total revenue increased year over year to $2.64 billion from $2.60 billion, and total operating expenses increased from the prior-year period to $2.34 billion from $2.26 billion.

Reported net income decreased 12.8% from the prior-year period to $160.6 million, or $2.79 per share, from $184.2 million, or $3.05 per share.