Why W.W. Grainger Stock Soared in February
Industrial products distributor W.W. Grainger (NYSE: GWW) surprised investors with a better-than-expected quarter, and said it expects the strong showing to continue into 2023. Investors celebrated the results, sending shares of Grainger up 13.4% in February, according to data provided by S&P Global Market Intelligence.
Grainger is a distributor of parts and components to a wide range of industrials. The company had an impressive fourth quarter, reporting earnings of $7.14 per share, $0.13 ahead of expectations, on revenue that was just ahead of what Wall Street had expected at $3.8 billion.
For the full year, sales were up 16.9%, or 19.3% when currency fluctuations are removed, and Grainger was able to improve its operating margin by 265 basis points to 14.5%.
Source Fool.com
