Grainger earnings miss estimates

W.W. Grainger reported Q4 sales of $2.9 billion, up 3.3 percent from the comparable period in 2019. Share gains in the U.S. segment and omnichannel growth more than offset declines in the Canadian business, Acklands Grainger. Net income for the quarter amounted to $168 million, or $3.12 ($3.66 adjusted) per share. Those numbers fell short of the Zacks Consensus Estimate of $3.79 per share. For the full fiscal year, sales rose by 2.7 percent while earnings of $1 billion were down from $1.3 billion in fiscal 2019.