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Grainger Slashes Full-Year Guidance, Tops Q2 EPS

2015-07-18 08:36:10| Industrial Machines - Topix.net

The industrial supply company now expects 2015 per-share earnings of $12 to $12.50, down from a prior outlook for $12.25 to $12.95, and flat to 2% sales growth vs. previous guidance for 1% to 4% growth. "Despite continued softness in sales and gross profit margins from a tough industrial economy , we continue to invest for the long term while driving significant productivity to fund growth and infrastructure investments and reduce overall margin pressure," Chairman and CEO Jim Ryan said in a statement.

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