UPDATE: Grainger Q3 Profit Rises 36%

W.W. Grainger GWW reported a 36% rise in its third-quarter profit. Grainger's quarterly profit surged to $210.8 million, or $2.95 per share, up from $155.4 million, or $2.15 per share, in the year-ago period. Its revenue climbed 5% to $2.40 billion from $2.28 billion. However, analysts were projecting earnings of $3.06 per share on revenue of $2.42 billion. For 2013, Grainger now expects earnings of $11.45 to $11.65 per share on sales growth of 5% to 6%. The company had earlier expected earnings of $11.40 to $12 per share on sales growth of 5% to 8%. Grainger shares closed at $255.42 yesterday.