Grainger issues 2018 outlook, reaffirms 2017 guidance

• Grainger (NYSE:GWW -1.2%) is lower after providing its 2017 and 2018 outlook for sales and earnings at today's analyst meeting.
• GWW reaffirms FY 2017 guidance for EPS of $10.40-$10.90 vs. $10.71 analyst consensus estimate and revenues of $10.29B-$10.39B vs. $10.36B consensus.
• For FY 2018, GWW sees EPS at $10.60-$11.80 vs. $11.04 analyst consensus, with revenues gaining 3%-7% to $10.6B-$11.1B vs. $10.88 consensus.
• GWW also reiterates its longer term operating margin target of 12%-13% in 2019.