LAKE FOREST, Ill. (AP) _ W.W. Grainger Inc. (GWW) on Thursday reported first-quarter net income of $171 million.
The Lake Forest, Illinois-based company said it had net income of $3.19 per share. Earnings, adjusted for restructuring costs, came to $4.24 per share.
The results did not meet Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $4.42 per share.
The seller of maintenance and other supplies posted revenue of $3 billion in the period, which topped Street forecasts. Seven analysts surveyed by Zacks expected $2.88 billion.
W.W. Grainger shares have declined 19% since the beginning of the year, while the Standard & Poor's 500 index has declined 13%. The stock has decreased slightly more than 5% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GWW at https://www.zacks.com/ap/GWW
Automated Insights, source Associated Press News