W.W. Grainger, Inc. (GWW), while reporting higher second-quarter profit but below market estimates, on Friday lowered its fiscal 2025 earnings view below the Street. Further, the company raised sales view.
In the pre-market activity, Grainger shares were losing around 8 percent to trade at $956.07.
For fiscal 2025, the company now expects earnings per share of $38.50 to $40.25, lower than previously expected $39.00 to $41.50 per share.
The Wall Street analysts on average expect the company to report earnings of $40.54 per share. Analysts' estimates typically exclude special items.
Net sales is now projected to be $17.9 billion to $18.2 billion, higher than previously expected $17.6 billion to $18.1 billion. Analysts expect net sales of $17.94 billion for the year.
The projected year-over-year sales growth is 4.4 percent to 5.9 percent, compared to previous estimate of 2.7 percent to 5.2 percent.
In the second quarter, the company's net income totaled $482 million or $9.97 per share, compared with $470 million or $9.51 per share last year.
On an adjusted basis, prior year's earnings were $482 million or $9.76 per share.
Analysts had expected the company to earn $10.07 per share.
The company's net sales for the period rose 5.6 percent to $4.55 billion from $4.31 billion last year. The Street expected net sales of of $4.53 billion.
The sales growth was 5.1 percent on a daily, constant currency basis.
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