, Columnist
Grainger's Unpleasant Earnings Surprise
An industrial turnaround may be even further away.
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Some bad news can be explained away, and some you just can't ignore.
On Tuesday, W.W. Grainger -- a supplier of motors, fasteners and other industrial parts -- reported second-quarter profit that missed analysts' estimates by the widest margin since at least 2006. It was by all accounts a dismal showing, as operating margins also came up short and Grainger had to cut its full year sales and earnings guidance.