W.W. Grainger Inc. (GWW) reported first quarter EPS of $2.94 Tuesday morning, up from $2.57 in the previous year. The consensus estimate was for EPS of $2.74. The company now expects 2013 sales growth of 5 to 9 percent and EPS of $11.30 to $12.00. Prior guidance was sales growth of 3 to 9 percent and EPS of $10.85 to $12.00. Analysts expect the company to report 2013 EPS of $11.75 on revenue of $9.61 billion.
W.W. Grainger gapped open dramatically higher Tuesday and rose in early trade, before settling into a range. Shares finished up by 16.18 at $241.88, with volume at a 4-month high. The stock broke out of a 2-month range and set a new high for the year.
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